Lancaster County real estate listings jump almost 30% in April – Central Penn Business

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Lancaster County real estate listings increased significantly in April, according to the Lancaster County Association of REALTORS. 

Jeff Peters, Lancaster County Association of REALTORS president, said as expected with the spring market, new listings increased 28.9% over March and 15.5% over last April. 

New pending sales were also up 17.9% compared to last month but down 7.4% from last April, Peters said.  

Closed sales were down 11.6% compared to March, perhaps indicating longer than usual settlement terms, he added. Closed sales were up 2.2% from last April, he added. 

“It’s too early to suggest waning demand by buyers as competitive offers are still commonplace in the market,” Peters said. “Our median sale price was up 8.3% to $325,000 confirming the competitive environment that still exists.” 

The average days on market for all listings ticked down slightly to 21.  

Peters said homes continue to sell over the original list price, but with the highest active inventory of the year, buyers seem hopeful that opportunities might be closer than ever to achieve homeownership in 2024.  

“With mixed economic news, many consumers are still confused about how this market will benefit their future purchases, but we’re still optimistic for a few rate reductions coming in the third and fourth quarter of the year,” Peters said.  

The report comes from the association’s official database, courtesy of Bright MLS.