If you are looking to buy, the next few months will present great opportunities while buyer demand softens for the Holiday season. With less competition buyers often times have an advantage and can find motivated sellers that are willing to sell at a discount to get properties off of their books before year end or that need the money for the Holidays.
If you are looking to sell, the Holidays can also work in your favor if you are patient. Many seller’s do not like to show their homes during the Holiday season so often times there is less inventory available for buyers to look at therefore lowering your selling competition. Once the Holidays are over and it is January, many sellers that were holding off until the new year will then place their homes on the market which will in turn increase your selling competition. List now and be patient. You may find a buyer that loves your home and is willing to pay your asking price while the competition is low. This does not mean you have to accept low ball offers. Rather, hold firm to your list price (assuming you have it priced correctly) and if it doesn’t sell then you will be ready for the new wave of after Holiday buyers in January.
Here is how last month finished up in York County…
CLOSED HOME SALES IN NOVEMBER
24 Existing Homes Sold
- Down 20% compared to this time last year (30 homes were sold in November 2014)
AVERAGE SALE PRICE IN NOVEMBER
- Up 34% compared to this time last year ($251,086 average sale price in November 2014)
AVERAGE PRICE PER SQUARE FOOT IN NOVEMBER
$143 PER SQUARE FOOT
- Up 14% compared to this time last year ($125/SqFt average in November 2014)
AVERAGE DAYS ON MARKET IN NOVEMBER
87 DAYS ON MARKET
- Down 6.6% compared to this time last year (93 Days on Market average in November 2014)
SALES PRICE VERSUS LIST PRICE RATIO IN NOVEMBER
97.3% OF LIST PRICE
- Up 2.4% compared to this time last year (94.9% of List Price in November 2014)
MONTHS OF INVENTORY
15 Months of Inventory at Current Sales
- There are 359 homes for sale in the York County area selling at 24 homes a month.
- Inventory is down 7.2% from last month.
- 6 months of inventory represents a balanced market.