Although some areas of the nation are seeing home sales slow and prices cool off, the majority of housing markets are still experiencing price growth. In Pennsylvania, we’ve experienced an average of 3.8%, while Lancaster County has seen a 6% increase in average sold price year over year. Are housing prices going to crash? Not likely. We are at a 1.1 month supply, which is very low inventory. A balanced market is a 6 month supply. If you have any questions about buying or selling real estate, please reach out. I’m happy to help!
Why Some Homes Sell Quickly – and Others Sit on the Market
If you’ve been watching the real estate market lately, you may have noticed something interesting. One home goes on the market and is under contract within days. Another home sits for weeks and eventually has a price reduction. So, what makes the difference?
