I wanted to try something a little different this month to see what kind of interest their might be in a snapshot of a local market. If my small audience enjoys this type of post, say so! And I will take requests on different communities/neighborhoods.
Wrightsville is my hometown– I was raised here, I presently have a personal office here, I go to church here, and I am a member of what was formerly called “The Wrightsville Rotary Club,” (now called Rotary Club of Eastern York County).
I will define Wrightville a little more loosely as not only Wrightsville Borough, but also areas of Hellam Township with a Wrightsville address. This captures the so-called Cool Creek development north of the apartments and east of Cool Creek Golf Course.
Broadly speaking, this year has been one of limited inventory, climbing prices, and climbing interest rates. The limited inventory is putting sellers in the catbird seat and the climbing interest rates may be responsible for buyer behavior to “act now” before the rates put affordability out of reach. As I will explain, Wrightsville is no exception to what we have seen the market doing broadly. If anything, it is accentuated in Wrightsville.
On the year so far (159 days from January 1-June 8), there are 30 homes that have sold or are pending sale according statistics as reported in the multiple listing service (click HERE to see those 30 homes) . This means that homes in Wrightsville are selling every 5.3 days.
This is a very quick rate of consumption, and when you combine this fact with the fact that there are only TWO pieces of inventory actively for sale right now, this paints a picture of a heavy seller’s market (Click HERE to see those 2 homes).
I typically define a seller’s market as a market where there is less than three months worth of inventory. At a consumption rate of one home selling every 5.3 days, two pieces of housing inventory represents 10.6 days of inventory (less than a month).
Just to be clear, consumption rate is not days on market, and should not be one’s expectation for days on market for multiple reasons; one being that expectations should be specific to the home. A detached home will likely perform differently than a condo for example. The median days on market happens to be 14 days for the Wrightsville inventory as a whole.
Many times buyers will want to know how much less than asking price they should offer. While your rich dad might suggest something like 50% of asking price (I am carelessly citing a book), that won’t fly around here! We are looking at sellers getting 99.4% of their asking price.
So lastly, what about price, one might ask? The median sale price in Wrightsville is $132,000. If one is looking for a value on their home, I would be glad to do a market analysis on their individual home. This data contains a home that sold for $68k and one that sold for $255.9k
Out of the 30 homes sold to date this year, The Nathan Krotzer Team represented 9 transaction sides in those 30 homes. We love doing business in Wrightsville and the surrounding area, and can help you buy or sell here. Please reach out if you need a local real estate resource!