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.

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A Real Estate User’s Guide To the Government Shutdown

As Democrats and Republicans fall all over each other trying to blame the other side of the aisle for the government shutdown, should you be concerned if you’re involved with a real estate transaction right now or in the near future?  Umm – it depends.

Since the Department of Housing and Urban Development (HUD) is a government agency, any borrower who applies for or, has applied to get an FHA or VA mortgage will be impacted.  Those temporary electronic highway signs on the side of the road that read, ‘Incident Ahead – Expect Major Delays’ applies here.

Since the vast majority of HUD workers were sent home early Saturday morning and they’re operating on skeleton crews, virtually no one is there to answer calls/emails, process paperwork or grant loan approvals.  UGH!!! Continue reading

Lancaster County’s December 2017 Real Estate Market – By the Numbers

Ahh – –  December!  As the year wound down, the cold, frigid winds of winter blew through Lancaster County.  This is the best time of year to reflect back on the year that was and to think and plan for the new one.  Now grab a pen and paper and sit down by the warm fireplace and get busy.

(Click each infographic for a larger version)

2017 12 December Market Stats - Average Sales Price

Not much change from last December’s average sales price.  As we will see at the end of this blog post, the final numbers for the year were solid and steady which indicates the real estate market was healthy. Continue reading