Housing inventory levels overall remain extremely low in Lancaster County, which continues to allow well-priced homes in most markets and price points to sell quickly. The only exception to this is in the $500K+ existing home market, where inventory levels are high. This is due to the preference of buyers in the $500K+ price range to choose new construction properties over the available existing home options, causing available existing homes to sit on the market longer, especially if those existing homes are not priced correctly.
Overall buyer activity began to slow in August and has continued through this month, which is typical for this time of year. This has created some downward pressure on pricing, despite the drop in interest rates.
If you are thinking of selling or buying a home in Lancaster County, I can show you how the current market conditions should help guide your decisions moving forward.