The York County Housing market applied the brakes in the month of October. We experienced a strong summer session but buyers seemed to evaporate with the warm weather. Throughout October local real estate agents have been complaining about lackluster sales and when the local MLS system, REIN, released numbers at the end of the month, those negative sentiments were confirmed.
Existing home sales in York County were down 33% when compared to the same period last year. “Real Estate is a local market,” says Micahel Reames, Lead Agent with the Reames Realty Group at Keller Williams Elite in Newport News Virginia. “Our market just hasn’t seemed to rebound like other parts of the country
CLOSED HOME SALES IN OCTOBER
37 Existing Homes Sold
- Down 33% compared to this time last year (55 homes were sold in October 2014)
AVERAGE SALE PRICE IN OCTOBER
- Down 5% compared to this time last year ($304,626 average sale price in October 2014)
AVERAGE DAYS ON MARKET IN OCTOBER
88 DAYS ON MARKET
- Down 2% compared to this time last year (90 Days on Market average in October 2014)
SALES PRICE VERSUS LIST PRICE RATIO IN OCTOBER
97.7% OF LIST PRICE
- Up 1.9% compared to this time last year (95.8% of List Price in October 2014)
MONTHS OF INVENTORY
10.5 Months of Inventory
- There are 387 homes for sale in the York County area.
- 6 months of inventory represents a balanced market.