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Real Estate Market Trends - The Pilgrim Team

by The Pilgrim Team

The National Association of Realtors® (NAR) reported a 7.6 percent increase in existing-home sales for the month of August, to a seasonally adjusted rate of 4.13 million units anticipated in 2010. The increase was higher than many experts predicted, as real estate markets showed strong activity even without the home buyer Tax Credit. Regionally, the West showed the biggest increase in existing-home sales, with a jump of 13.8 percent. The Northeast followed with an increase of 7.9 percent, while the South and Midwest grew sales by 5.2 and 5.0 percent respectively.

Existing Home Sales By Region

NAR chief economist Lawrence Yun remains cautiously optimistic. "The housing market is trying to recover on its own power without the home buyer Tax Credit," he said. "Home values have shown stabilizing trends over the past year, even as the economy shed millions of jobs, because of the home buyer tax credit stimulus. Now that the economy is adding some jobs, the housing market needs to steadily improve and eventually stand on its own."

Freddie Mac reported that the average commitment rate for a 30-year fixed-rate Home Financing dropped to 4.43 percent in August, a record low. The rate was 5.19 percent during this time last year. Total housing inventory fell slightly to 3.98 million units, representing an 11.6 month supply.

First time buyers accounted for 31 percent of the Homes for sale in york pa purchased during August. Investors also had a strong showing, accounting for 21 percent of the market, up from 19 percent the month before. Repeat buyers acounted for the remaining 48 percent of August home purchases.

Find the Right Coverage

When purchasing a home, you will need to acquire homeowners insurance. In fact, all lenders will require a policy be in force prior to funding the loan. Make sure you have enough coverage, should anything happen. Policies refer to "replacement costs" that may not cover everything. You should ask your insurance agent a lot of "what if" questions. The deductible amount also plays a big part in setting your premium. Higher deductibles lower the number of claims, and reduce your insurance costs.

Check with your insurance agent for more information on these issues, and any others. If you don't have an insurance agent, we have access to several top-notch agents we can refer you to with confidence.

Seller Opportunities

selling your home in today's market requires strategy and execution. Here are three tips to help sellers reduce their time on market:

  • Make it shine. Buyers are attracted to attractive Homes for sale in york pa. Make your home stand out by mowing the lawn, raking the leaves, washing windows, and cleaning the carpets. These are small things that will make a big difference.
  • Remove clutter. Not only do clean Homes for sale in york pa show better, but tidy homes offer more to the imagination. One person's treasure is another person's trash. Removing unnecessary clutter will help potential buyers envision their own potential or the home.
  • Pay attention to the market. Work with your agent and price your home to sell. A competitively priced home is the one that sells first, and in this market that counts for a lot.

These simple tips can help you sell your home and take advantage of our today's market. Please contact us if you have any questions about selling your home. We are here to help!

York PA Real Estate Sales for July

by The Pilgrim Team

Home Sales Comparisons for July 2009 and July 2010 in York County PA

 

July 2009

Homes for sale in york pa sold = 407, Total new listings = 859, average list price sold was $189,141 and sold price was $183,511, Average unsold median price was $228,398.

July 2010

Homes for sale in york pa sold = 271, Total new listings = 741, average list price sold was $176,203 and sold price was $170,014, Average unsold median price was $370,201. The amount of time it will take the market to absorb the current inventory (3,220) would be 11.88 months.

As you can see that there was a -33% decrease in sales from a year ago. With a total inventory of 3,220 currently unsold Homes for sale in york pa, properties must be positioned at the correct price or the market (buyers) will reject the over priced properties. Most surprising is the huge jump in the unsold median price of homes ($370,201) which is a indication that the upper price brackets are not selling and continue to build in the inventory of homes. This is an alarming trend that must be reversed sooner rather than later.

With the current interest rates hovering in the low 4's NOW is the time to buy a home at low prices and with potentially low principle and interest payments. I believe the current economic uncertainty must be cleared up and property taxes always on the rise are putting a damper effect on higher end Homes for sale in york pa. Something must be done in Harrisburg soon or we face a worsening crisis with high end homes.

 

York County PA Housing Statistics 2009

by The Pilgrim Team

RAYAC Housing Snapshot

A year-end review of the residential real estate market in

York & Adams Counties

December 2009

2009 Housing Statistics

The REALTORS Association of York & Adams Counties (RAYAC) reports that a total

of 647 Homes for sale in york pa were sold in Adams County in 2009, a decrease of 7%. In York County

4,046 Homes for sale in york pa were sold in 2009, a 4% increase from 2008. The median sales price in

Adams County was $185,000, a 7% decrease from last year. In York County the

median sale price was $159,900 reflecting a drop of only 3%. “Starting in June, each

month we have continued to see positive increases in the number of Homes for sale in york pa sold in both York & Adams Counties,” stated Kraig

Hursh, 2010 RAYAC President.

RAYAC MLS Statistics by School District

2008-2009 (January1-December 31) Comparison

School District 2009

Median Sale Price 2008 Median Sale Price % Change 2009 Number Sold 2008 Number Sold  % Change

Adams County

Bermudian Springs $169,450 $199,900 -15% 86 85 1%

Conewago Valley $169,700 $184,200 -8% 172 188 -9%

Fairfield $213,450 $235,000 -9% 60 65 -8%

Gettysburg $220,000 $214,950 2% 163 152 7%

Littlestown $182,000 $188,000 -3% 116 131 -11%

Upper Adams $178,325 $175,500 2% 50 71 -30%

Total Adams County

$185,000 $198,451 -7% 647 692 -7%

York County

Central $163,000 $185,000 -12% 439 401 9%

Dallastown $172,900 $190,000 -9% 456 403 13%

Dover $147,900 $164,000 -10% 242 265 -9%

Eastern $140,700 $148,750 -5% 142 130 9%

Hanover $147,000 $148,000 -1% 130 153 -15%

Northeastern $158,000 $169,900 -7% 285 255 12%

Northern $205,000 $188,000 9% 99 84 18%

Red Lion $164,900 $170,000 -3% 352 303 16%

South Eastern $210,000 $213,750 -2% 43 136 -68%

South Western $180,000 $195,000 -8% 238 246 -3%

Southern $214,500 $229,000 -6% 176 128 38%

Spring Grove $176,000 $174,950 1% 241 212 14%

West Shore $178,500 $168,900 6% 144 157 -8%

West York $144,400 $147,000 -2% 273 271 1%

York City $68,700 $68,000 1% 384 467 -18%

York Suburban $156,505 $160,000 -2% 302 275 10%

Total York County

$159,900 $164,900 -3% 4046 3886 4%

Dallastown Schools Real Estate Report

by The Pilgrim Team

Dallastown Area Schools Home Report for September 1 through December 14 2009

This report are for all the Homes for sale in york pa sold in Dallastown Area School District as of September 1st through today.

Total Homes for sale in york pa sold was 130.

The lowest price was listed for $58,000 and sold at $48,500 located at 6 E Frederick St, Dallastown, PA 17313

The highest property was listed at $525,000 and sold at $515,000 located at 2773 Chestnut Run Rd, York, PA 17402

Price ranges of Homes for sale in york pa that sold in the following chart

$40,000 - $75,000      6 Homes for sale in york pa

$75,001 - $100,000    5 Homes for sale in york pa

$100,001 - $125,000  10 Homes for sale in york pa

$125,000 - $150,000  23 Homes for sale in york pa

$150,001 - $175,000  29 Homes for sale in york pa

$175,001 - $200,000  18 Homes for sale in york pa

$200,001 - $250,000  17 Homes for sale in york pa

$250,001 - $300,000  11 Homes for sale in york pa

$300,001 - $400,000  10 Homes for sale in york pa

$400,000 - $515,000  2 Homes for sale in york pa

The median price range for Dallastown Schools real estate is $168,850 for the period.

Average of days on the market until it went under contract was 62 days

Active Listings

There are currently 265 Homes for sale in york pa on the market.

Least expensive listng is $89,999 located at 2956 Cape Horn Rd, Red Lion, PA 17356

The most expensive is $1,295,000 located at 2709 Augusta Circle, York, PA 17402

Average days on the market is 127 days or a a little over 4 month supply of inventory.

These statistics are provided by the Multiple Listings Service by the Realtors Association of York and Adams Counties

RAYAC Housing Snapshot

A monthly review of the residential real estate market in

York & Adams Counties

October 2009

October Housing Statistics

The REALTORS Association of York & Adams Counties (RAYAC) reports

that a total of 540 Homes for sale in york pa were sold in Adams County during the first 10 months

of 2009. In York County 3,343 Homes for sale in york pa were sold through the end of October.

The median sales price in Adams County was $185,950, a 7% decrease from

last year. In York County the median sale price was $159,900 reflecting a drop of only 3%. Comparing the month of

October 2008 to October 2009 number of Homes for sale in york pa sold was up 38% in York County and 12% in Adams County.

“The real estate market appears to be improving. We are interested to see the impact of extending the first time

 

 

Real Estate Statistics for Wyndham Hills

by The Pilgrim Team

Wyndham Hills Real Estate Activity Report

Real Estate activity for Wyndham Hills, York, PA for the peiod of January 1st through November 30, 2009

Active Listings - Total currently listed 10

Least expensive home on the market is located at 1290 Grantley Rd at $269,900. The most expensive is $1,185,000 located at 900 Oakdale Rd. The median price is $507,450 and the average days a property has been on the market is 116.

Sold Listings - 8 sold

The least expensive was located at 850 Grantley Court, York at the price of $432,000. The most expensive home located at 1780 S Wyndham Dr, York sold for $1,050,000. The median price for those Homes for sale in york pa sold was $580,000, and the average days the homes were on the market was 136 days.

If you have an area anywhere in York County you would like to have a market update on a regular basis don't hesitate to contact us at Professional Realty Associates and Pilgrim Team. We are here to serve you.

Stewartstown Station Housing Market

by The Pilgrim Team

This is this the housing statistic actiivity since Jan 1st 2009 in the sub-division known as Stewartstown Station in York County PA. It is located just outside of Stewartstown, PA and located within the Southeatern School District.

Current "active listings" as of November 23rd -  4 Homes for sale in york pa are listed begiining at $244,900 and the top price os $289,900.

Homes for sale in york pa that have sold as of th 1st of 2009:

14 Homes for sale in york pa have had the deeds transferred, sold prices ranged from $169,900 to $300,000.

If you compare this year statistics to the same time period in 2008 you will find that 7 Homes for sale in york pa sold that year from $229,900 to a high of $305,000.

Haines Acres York PA Real Estate

by The Pilgrim Team

Below are the current Homes for sale in york pa that have either been sold, pending or are currently active in the Haines Acres Neighborhod. The date range begins May 1st thru November 19, 2009. The statistics have gome from the Realtors Assocaiation of York and Adams Counties.

 

Current Market Analysis  

StatusClassTypeAreaNo. of ListingsDollar VolumeAverage PriceMedian PriceAverage DOM
                 
                 
Active Listings 10 $2,274,050 $227,405 $184,900 81
Listings Under Contract 7 $1,070,612 $152,945 $165,512 78
Listings Sold 2009 20 $4,056,900 $202,845 $188,450 87
                 
ACTIVE                
  RESIDENTIAL/FARMS              
    Detached            
      York Suburban 8 $1,785,150 $223,144 $178,075 74
Sub Total 8 $1,785,150 $223,144 $178,075 74
ACTIVE-PENDING-TAKE BCKPS                
  RESIDENTIAL/FARMS              
    Detached            
      York Suburban 1 $189,900 $189,900 $189,900 146
Sub Total 1 $189,900 $189,900 $189,900 146
HOLD-DON'T SHOW                
  RESIDENTIAL/FARMS              
    Detached            
      York Suburban 1 $299,000 $299,000 $299,000 71
Sub Total 1 $299,000 $299,000 $299,000 71
SOLD                
  RESIDENTIAL/FARMS              
    Detached            
      York Suburban 20 $4,056,900 $202,845 $188,450 87
Sub Total 20 $4,056,900 $202,845 $188,450 87
PENDING (UNDER CONTRACT)                
  RESIDENTIAL/FARMS              
    Detached            
      York Suburban 7 $1,070,612 $152,945 $165,512 78
Sub Total 7 $1,070,612 $152,945 $165,512 78

Homes Sold in Central York Schools 10/26-11/02/09

by The Pilgrim Team

These are the current properties that sold between October 1, 2009 and October 31, 2009 in the York Central School District in York County PA.

 Information was provided by Realtors Association of York and Adams Counties.

RESIDENTIAL/FARMS
        Detached
                          Central
  20903028 3304  Stone Ridge Road $99,900 $101,000 101% 174
  20908359 962  WILLOW RIDGE DRIVE $248,000 $250,000 101% 40
  20908610 727  N GEORGE STREET $109,900 $99,900 91% 26
  20908987 235  Edgewood Rd $149,900 $155,000 103% 7
  20910148 2925  Meadowbrook Blvd $140,000 $140,000 100% 7
  20910785 2520  Mt. Zion Road $89,900 $89,900 100% 14
  Totals   $837,600 $835,800 100% 45
        Semi-Detached
                          Central
  20907476 1207  N DUKE ST. $119,000 $99,500 84% 78
  20909722 26  E EIGHTH AVENUE $75,900 $74,900 99% 30
  Totals   $194,900 $174,400 89% 54
        Condo/Townhouse
                          Central
  20814291 68  Lexton Drive $110,000 $99,000 90% 244
  20906825 3628  Pleasant Valley Road $159,900 $148,000 93% 73
  20907359 1683  Long Drive $79,900 $77,900 97% 350
  20907379 336  BRUAW DR $149,900 $119,900 80% 50
  Totals   $499,700 $444,800 89% 179

More Homes Going into Foreclosure in 2009

by JoAnn Peters

Tips for homeowners in distress to avoid Foreclosure.
Most people have options when it comes to foreclosure,
Very few people know exactly what to do or where to go!
Whether is be refinance options, modifying your loan, or Short Sale,
Seak advice from someone who has the training, knowledge, and tools to help you in a time of financial hardship (free of charge). An agent who has earned CDPE© Certified Distressed Property Expert© designation has dedicated their time and effort to understanding the issues distressed homeowners are dealing with.
So if you or anyone you know is considering bankruptcy or in fear of going into forclosure, now is the time to learn your options. Feel free to call Jerry Pilgrim today! 717-757-5955 or visit www.YorkShortSales.com
He is available to explain the options and paths in front of you, to help you choose the best solution for you and your family.

Free Foreclosure/Short Sale Buyers Workshop

by Professional Realty Associates

"Pilgrim Team" at Professional Realty Associates
would like to invite you to a Free Informative Tips Seminar.Click here to Register for the Free Foreclosure / Short Sale Buyer Workshop

Thursday August 20th at 7:00pm
at Professional Realty Associates

3921 E. Market st, Useful Information about York PA 17402

We will cover the following topics:

* Purchasing Foreclosures and Short Sales
* This Current Buyers Market
* The Settlement Process and Title Insurance
* Buying your first home and taking advantage of the   New $8,000 First Time Home Buyers Credit
* Loan Options and New Loan Guidelines

Jerry Pilgrim, Professional Realty Associates
Will speak to buyers interested in purchasing foreclosures and short sales.

Refreshments and snacks will be provided.

If you've given any thought to making a move, whether into your first home or your fourth, we'd love for you to join us at our FREE seminar!

Anyone who attends will receive a buyers orientation book.  All Attendees who purchase a home with us will receive a Free 1 yr. Home Warranty.

For More Information or to make reservations for the Free seminar call Professional Realty Associates at 717-757-5955 or visit our webpage at www.PilgrimTeam.com and click on the link to register online.

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The Pilgrim Team
Professional Realty Associates
2002 S Queen St, Suite 3
York PA 17403
Office: 717-757-5955
717-755-2683
Fax: 717-757-2887