Lancaster County’s April 2018 Real Estate Market – By the Numbers

The old saying, “April showers bring May flowers” is a reminder that even the most unpleasant of things, in this case, the heavy rains of April, can bring about very enjoyable things indeed – an abundance of flowers in May.  The lesson?  Patience.

So how did the rains of April affect Lancaster County’s real estate numbers?  Let’s take a look.

(Click on each infographic for a larger version)

2018 04 April Market Stats - Avg Sales Price

The Average Sales Price made a huge jump in April – 9%.  We have been humming along for months between 1-4% so this is a significant change.  As you will see when we examine the Absorption Rates this month, the upper price ranges (i.e. $400,000+) are now starting to move which is a good sign. Continue reading →

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Lancaster County’s March 2018 Real Estate Market – By the Numbers

March is traditionally a month associated with “Luck.”  People try to find four-leaf clovers, hang horseshoes with the heels up so that good luck won’t drain out, and celebrate St. Patrick’s Day with a good, old-fashioned green beer.

How did the real estate market fare in this “Lucky” month?  Here are the numbers:

(Click on each infographic for a larger version)

2018 03 March Market Stats - Avg Sales Price

  • We continue to experience a steady rise in average sales price which is great for those homeowners who lost a lot of their equity in the recession.  Short sales are no longer as prevalent as they were just a few short years ago.  A short sale requires lenders to forgive some of the indebtedness of a mortgage if the proceeds from a sale don’t cover the remaining balance of the mortgage, but only after the homeowner can prove a hardship.

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Lancaster County’s February 2018 Real Estate Market – By the Numbers

February’s winter winds are behind us and the days are now starting to get longer.  As we head into spring, there is always a sense of anticipation for what lies ahead.  Let’s take a look at the latest numbers.

(Click on Infographics for larger size)

2018 02 February Market Stats - Avg Sales Price

  • Average Sales Price – A huge jump of 7% from last year at this time.  As the supply of inventory continues to struggle to keep up with demand, expect prices to continue their healthy upward trend.

Continue reading →

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