Recent real estate transactions recorded in Lycoming County reveal a dynamic and varied market, highlighted by a multi-million dollar sale in Hepburn Township and a series of sheriff's sales across several municipalities. The data provides a detailed look into the movement of residential, commercial, and land properties, reflecting ongoing economic activity throughout the region.
The transactions, which span from the city of Williamsport to rural townships like Gamble and McHenry, showcase a wide range of property values. Sales prices ranged from as low as a few thousand dollars in sheriff's auctions to over one million dollars for a single property, indicating activity across all segments of the market.
Key Takeaways
- A significant $1.125 million property sale was recorded in Hepburn Township.
- Sheriff's sales were prominent, with several properties acquired by banks and investment firms for low amounts.
- Residential home sales demonstrate a healthy market, with prices ranging from $150,000 to over $500,000.
- Commercial entities were active, acquiring properties in Williamsport and Clinton Township.
- Land and unique properties, such as a cabin in Franklin Township, also changed hands.
High-Value Residential Sales Lead the Market
The most notable transaction was the sale of a property at 386 Factory Road in Hepburn Township. Donald J. and Deborah A. Leathers sold the property to Daniel Tripoli for $1,125,000. This sale stands out as a significant investment in the area's high-end residential market.
Another substantial sale occurred in Gamble Township, where Thomas E. and Stacy A. Bower sold their property at 1743 Trimble Road to Blake W. Crawford for $535,000. These high-value transactions suggest strong confidence in the county's more rural and spacious residential offerings.
Activity in Established Neighborhoods
Beyond the top-tier sales, several other transactions indicate a robust mid-range market. In Old Lycoming Township, a home at 15 Hillview Ave. was sold by John M. and Therese A. Handwerk to Jill A. Johnston for $347,500. Nearby, the property at 52 Keyser Circle was sold for $324,500 to Walter P. Rice and Shayna N. Thurman.
These sales, along with others in Williamsport and Muncy Borough, show consistent demand for single-family homes across the county's more populated areas. For example, a home at 380 Union Ave. in Williamsport sold for $243,000, and another at 201 W. Penn St. in Muncy Borough fetched $234,500.
Transaction Snapshot
- Highest Sale: $1,125,000 (Hepburn Township)
- Lowest Private Sale: $15,000 (Bastress Street, Jersey Shore)
- Number of Sheriff's Sales Recorded: 9
- Median Residential Sale Price (excluding sheriff's sales): Approximately $214,750
Sheriff's Sales Indicate Market Adjustments
A significant portion of the recent activity involved properties sold through the Lycoming County Sheriff’s Office. These sales often involve foreclosed or distressed properties and typically transact at prices well below market value, often just covering outstanding debts or taxes.
Financial institutions were the primary buyers in several of these sales. U.S. Bank Trust acquired two properties, one on Wildwood Blvd. in Williamsport for $1,214 and another in Franklin Township for $1,322.66. Similarly, the Pennsylvania Housing Finance Agency purchased properties in Loyalsock Township and Williamsport for $1,212.46 and $1,566.01, respectively.
Understanding Sheriff's Sales
Sheriff's sales are public auctions of properties that have been seized to satisfy a debt, often a mortgage foreclosure. The opening bid is typically set by the lender to cover the outstanding mortgage balance, taxes, and legal fees. These sales can be an indicator of economic stress but also provide opportunities for investors to acquire properties at a discount.
Not all sheriff's sales went to banks. Investment companies also participated. Southern Edge Properties LLC acquired a property on Route 15 in Clinton Township for $108,000, while Vernondale Properties LLC purchased a home on Carpenter Street in Muncy Borough for $97,000. These transactions suggest investors are actively seeking opportunities in the local market.
Commercial and Investment Activity
The real estate records also point to ongoing commercial and investment interest in Lycoming County. In Williamsport, a property at 1408 Memorial Ave. was sold by the estate of Steven D. Harvey to The Band LLC for $125,000. Another transaction saw WHRWS LLC sell a property at 801 Hepburn St. for $195,000.
These sales to limited liability companies (LLCs) often signal that the properties are intended for business or rental purposes. For example, Crosby Property Services LLC acquired land on Route 14 in Lewis Township for $37,000, and Salem Cabin LLC purchased a property on Salem Schoolhouse Road in Franklin Township for $185,000, likely as a recreational or rental investment.
The purchase of a property at 229 Brown St. in South Williamsport by Ambrosa LLC for $35,000 further illustrates the activity among corporate entities in the local market.
A Diverse Geographic Spread
The transactions were not concentrated in one area but were spread across the entirety of Lycoming County, reflecting a broad-based market.
From Jersey Shore in the west to Muncy in the east, and from southern townships like Limestone to northern ones like McHenry, properties changed hands. This geographic diversity is a sign of a healthy, functioning market where buyers and sellers are active across different communities and property types.
For instance, in Mifflin Township, a home on Walnut Lane sold for $285,000, while in Upper Fairfield Township, a property on Back Street was acquired for $276,000. Even more remote locations saw activity, with a property on Route 44 in McHenry Township selling for $110,000. This widespread activity underscores the appeal of various lifestyles available within Lycoming County, from urban living in Williamsport to quiet, rural settings.
