This month we’ve got numbers for all of Central PA, courtesy of Bright MLS! Long story short, similar to what we’ve been saying, there’s still plenty of opportunity for buyers and sellers right here in Central PA.
Don’t watch national news for local coverage friends, the numbers won’t tell you the reality here. Home sales (pending and closed) would have been, and would still be, higher if we had more inventory (homes for sale). There is still a lot of buyer demand. Does that mean a buyer can’t compete? No, not at all. The reason the listing inventory isn’t rising is a multifaceted discussion, but the main reason? Buyers are buying as quickly as they come on the market, and then those are the closings you see.
Whether you’re a buyer or a seller, we can help you navigate this market. We’ve been through the ups and downs of the real estate market and have the experience to help you. Questions on these things and what they mean? Just ask, we are here to help !
Let’s dive in!
If you’re a buyer, don’t let the current interest rates scare you away from buying. The interest on rent is still 100% and you can refinance your mortgage when interest rates decrease. Don’t let the market dictate when it’s time to buy, or sell, for that matter. The best time for you to make a move is when it’s right for you!
While homes aren’t sitting on the market long (7 days is the current median), that doesn’t mean buyers don’t have a chance. Work with a Realtor who can help you write competitive offers, while still looking out for your best interests. Yes, that is possible. We can help.
If you look at the column on the right, you’ll see the Home Demand Index (HDI) for each county. HDI “tracks pre-sale activity to measure housing market competitiveness.” Overall, Central PA is at a 93, which is in the “steady” range. You can learn more about the HDI here.
Now, focusing on Lancaster County specifically, here’s a snapshot for April ’23:
Again, if we had more inventory, we’d have more solds and more pendings, but that doesn’t mean you can’t buy.
Mortgages still hold the majority for home financing! This percentage has remained steady the last several months.
Hyper local, this is what Warwick School District looks like:
Median Sales Prices and Number of Units Sold for Lancaster County School Districts in March 2023:
Solanco (13): $355,000
Pequea Valley (2): $410,000
Penn Manor (27): $291,250
Columbia (7): $195,000
School District of Lancaster (55): $215,000
Eastern Lancaster (15): $282,000
Conestoga Valley (13): $307,650
Lampeter Strasburg (17): $355,200
Warwick (20): $335,375
Cocalico (14): $287,500
Elizabethtown (22): $323,750
Manheim Central (20): $323,000
Ephrata (11): $226,000
Donegal (18): $275,250
Manheim Township (36): $384,900
Hempfield (25): $340,000
For our surrounding counties:
Need help buying or selling in any of these counties? We’re happy to help! Give us a call or text at (717) 371-0557
Your Friends in Real Estate, Jason Burkholder Real Estate Team
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Jason Burkholder
Kelly Burkholder
Adam High
Jaci Hoosier
717-371-0557 direct or text
Welcome Home Real Estate
717-298-8040 office
57 E Main St, Lititz, PA 17543
