The real estate market in York County is constantly changing, and being up-to-date is essential for making the right moves, whether you're planning to buy or sell. In this September 2024 update, we take a closer look at the latest market trends and data, giving you a clear snapshot of what's currently happening. From price fluctuations to evolving buyer demand, this report provides the insights you need to successfully navigate York County's ever-changing real estate scene.
New Listings:
According to the data, new single-family home listings in York County have shown a steady decline over the past two years, with a 6.5% decrease from 2022 to 2023, followed by a 4.2% drop in 2024. This trend contrasts with the overall MLS, which experienced a slight decline of 4.2% in 2023, but rebounded with a 2.0% increase in 2024. These statistics underscore the ongoing shifts in York County's real estate market, highlighting the importance of staying informed as inventory tightens.
Homes For Sale:
The above graphic highlights the number of single-family homes for sale in York County during September 2024, revealing significant shifts compared to previous years. While York County experienced a 10.7% decline in available homes from 2022 to 2023, there was a sharp 41.3% increase in homes for sale from 2023 to 2024. This local trend mirrors a broader change across the entire MLS, which saw a 37.8% rise in homes for sale in 2024 following a previous decline. These figures indicate an influx of inventory into the market, offering more opportunities for buyers while reflecting evolving dynamics in the real estate landscape.
Pending Sales:
Pending sales in York County saw a notable recovery in September 2024, bouncing back from a 9.3% decline in 2023 to post a 9.9% increase this year. This mirrors a similar trend in the broader MLS, which also experienced a rebound, with pending sales increasing by 9.8% in 2024 after a 7.3% decline in 2023. These figures suggest that buyer activity has regained momentum, pointing to renewed confidence in the market as pending sales rise after a period of stagnation.
Median Days on Market:
The median days on market for single-family homes in York County surged in September 2024, rising to 16 days from just 9 days in 2023, marking a 77.8% increase. Similarly, the entire MLS saw a significant increase, with the median days on market climbing to 20 days, an 81.8% rise from the previous year. These increases suggest a slowing market, where homes are staying on the market longer before going under contract, reflecting potential shifts in buyer behavior and market conditions.
Months Supply Of Homes For Sale:
The months supply of homes for sale in York County rose significantly in September 2024, reaching 2.7 months, a 42.1% increase from the previous year. This upward trend reflects a similar pattern in the overall MLS, where the supply grew by 34.8% to 3.1 months. The increase in supply indicates that the market is moving toward a more balanced state, with more homes available relative to buyer demand, giving potential buyers more options and potentially cooling the competition among them.
As we move through October 2024, the York County real estate market presents a dynamic landscape, marked by an increase in inventory, rising days on market, and a recovering level of buyer activity. New listings continue to decline, while the number of homes for sale and months of supply are on the rise, giving buyers more opportunities and options. Meanwhile, the median days on market has significantly lengthened, signaling a cooling trend as homes take longer to sell. Despite these shifts, pending sales are rebounding, reflecting renewed confidence in the market. Whether you're looking to buy or sell, it's crucial to stay informed and work with experienced professionals. The Linda Hall Team of Century 21 First Choice is here to help you navigate these changes and make smart real estate decisions. Contact us today to start your journey in the ever-evolving York County real estate market!