The headline in February 22nd edition of The Inquirer on philly.com said it all about Pennsylvania’s real estate market. “What Housing Slowdown?” it asked.
The article focused on Philadelphia, but the same holds true for other areas of the state, too. Homesellers in York, about a two-hour drive east of Philly, could be asking the same thing. The real estate market in the city and in the county as a whole is red hot.
No doubt many homesellers are eager to jump into the market to profit from the high demand for properties. And many are probably asking, how can I sell my house fast in York, Pennsylvania?
The communities in the county, and particularly in the city, are growing fast. York has been described as bigger than a small town, but smaller than a city. It’s the sort of place that lets you get away from the big city without being completely isolated. It’s not only close to Philadelphia but Baltimore and Washington, D.C., aren’t too far away, either.
York and the region are also part of American history. There are towns that predate the American Revolution and remnants of colonial architecture surround the residents. York also has great public schools. There are also several private and religious schools, and it has a satellite campus of the Pennsylvania State University.
It’s also an extremely affordable community for those who work in Harrisburg, the capital city. The median home price of homes selling in York is just under $60,000. So, there’s little doubt, York is an attractive community for buyers.
And the fact that median home sales went up by about 8.2% last year and are continuing to rise this year, makes it an extremely attractive time for sellers to enter the market. Despite the red hot real estate market in the city, there are steps you can take to sell your house faster and for the highest return. Here’s our guide to selling your house fast in York, Pa.
Housing Market Forecast for York, Pa.
The real estate market is extremely active in York County and in the city of York. There is a huge demand and not enough inventory. In February, there were 1,380 properties up for sale in York County. That was down an amazing 49% from the same period the year before. That pushed median home prices up and total properties sold increased by 7%.
In February, there was a 3.7 month supply of homes available in York County. Compare that to 7.9 months of supply for the same month in 2018. And the opportunities for sellers are expected to continue this year.
Home values in York County are expected to rise by 3.6% in 2019. The high demand versus low inventory in the region has also created bidding wars. It’s not uncommon to read local news stories of homes selling well above their asking price.
Three Steps to Help Homes Sell Faster in York, Pennsylvania
High demand and a low housing inventory are good news for sellers. But getting the most on your return requires a few more steps than just putting your home on the market because of favorable market conditions. Here are some key steps that you can take to optimize the return on your property.
1. Make Repairs (Within Reason)
Fix everything that you can, but make sure to remember that the repairs should help you get a higher asking price. Buyers believe they are overpaying if they see repairs that need to be done on a potential purchase property. But there are simple things that you can do (like giving the walls a new paint job) that can push your selling price up without being too costly.
2. Price It Right From the Start
Buyers who see a home on the market for an extended period of time will generally make a lower offer than on a newer listing. If you price your home correctly from the beginning you will not have to reduce your asking price or accept an offer that is too low just out of frustration.
3. Sweat the Small Stuff
Bright rooms, shampooed carpets, and a clean home go a long way in making the sale. So, tidy up, scrub any dingy areas, and replace any light bulbs that don’t work. For many homebuyers, the decision to buy is often in the details of the home.
Watch out for Buy Houses for Cash Companies and iBuyers
The relatively low median home prices in York and high rental prices in the region make it a prime real estate opportunity for outside investors. York’s location to some of the east coast’s major cities also makes it ideal for property hunters from outside the state.
This is good if you want to sell your home fast in York. But it can also lead homeowners to be vulnerable to people who promise a fast sale at rock bottom prices. If you’re a homeseller, you don’t want to jump the gun and sell for a price that’s too low.
Sellers need to beware of companies that are promising a quick buck for their home. Specifically, you should be careful about dealing with Buy Houses for Cash Companies and iBuyers.
These are equity purchase companies (also known as “opportunity investors”). They purchase homes from sellers in financial trouble or from those who do not know the specifics of their market.
A seller’s ignorance about his or her real estate market or home value can lead to a home selling for tens of thousands of dollars less than its market value. Remember, getting money for your property quickly is important. But it’s not as important as getting the most for the hard-earned investment you put into your home.
That’s why it is best to stay away from companies that try to take advantage of the market situation primarily in their own best interest. A trusted Clever partner agent will make sure to look out for their client’s interest when selling a home.
Benefits of Partnering with a Trusted Real Estate Agent
York County’s relaxed lifestyle and lively towns make it an ideal place to buy for commuters and for anyone wanting to leave the hectic pace of the city behind. That’s why towns like York are seeing huge demand. The good news for sellers is that they’re seeing premium returns because the inventory of homes for sale is so low.
If you’re thinking of selling don’t try to go it alone. It’s best to work with a professional Clever Partner Agent who is up-to-date on the current trends of the real estate market in York. They will make sure your home sells fast. And just as importantly, they will be able to get you the best price for your home.
Clever Partners with top-real estate agents from major companies like Keller Williams, Century 21, and RE/MAX. Clever Partner Agents are all full-service. However, they have agreed to work for a flat fee of $3,000 or 1% if your home sells for more than $350,000.