RE/MAX is the #1 Real Estate Franchise in the US – – Again!

Franchise Times Top 10 - 2017
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RE/MAX was once again a top 10 franchise and the leading real estate franchise for the 9th consecutive year in the annual Franchise Times Top 200+® survey.  This put RE/MAX at the same level of other household names such as Marriott Hotels, Ace Hardware, and 7-Eleven.

RE/MAX was also ranked #2 for total sales volume growth and #8 for unit growth.  The average sales growth of the Top 10 companies was 2.8% – RE/MAX grew by 11.8%.

Lancaster County’s September Real Estate Market – By the Numbers

As we wave goodbye to the 3/4 mark in 2017, the beautiful fall foliage is rapidly appearing all around us.  There have been lots of interesting developments on the real estate front this past year.  The market that has shown a steady recovery from the Great Recession which has been good for Central Pennsylvania.  Let’s take a look at the numbers to see what they reveal.

(Click on any of the images for a larger view or to download)

2017 09 September Market Stats - Avg Sales Price

The average sales price year over year shows prices are up 4% to just over $206K.  This relatively modest appreciation rate is good news for sellers who are slowly recovering the lost equity from the economic downturn.  This number should also send a message to potential buyers who are on the fence about purchasing.  Waiting to buy equals higher prices and interest rates that are potentially on the rise (more on this later). Continue reading

The Home Selling Process

What does it take to get your home SOLD in this market?  Click on the infographic to follow the process.

the-home-selling-process-infographic

All the best!

Lancaster County Real Estate Market Statistics for September 2016

The month of September is behind us and if you take the time to walk along some of the nature trails in Lancaster County, you’ll soon start seeing a wonderful palette of orange, yellow, and brown leaves that will greet you.  Let’s take a look at the numbers for September – – –

NOTE: Click on any of the charts to enlarge and/or download.

september-2016-market-stats

Increases in the low to mid price ranges are the categories that are fueling the steady assent.  This bodes well for continued strength in the real estate market.   Continue reading

Lancaster County Real Estate Market Statistics for August 2016

Where has the year gone?  Kids are now back in school; football season is under way; backyard gardens have been harvested – – – and the August market stats are in.

NOTE: Click on any of the charts to enlarge and/or download.

august-2016-average-sales-price

The average sales price in Lancaster County is up 1% from last year at this time.  Although a small increase, this continues an upward trend that indicates that the overall residential real estate market continues to rebound from the recession. Continue reading

Lancaster County Market Statistics for July 2016

NOTE: Click on any of the charts to enlarge and/or download.

July 2016 Average Sales Price

The average sales price in Lancaster County is up 2% from last year at this time.  This continues a trend that indicates that the overall residential real estate market is rebounding from the recession.

July 2016 Market Stats

The biggest takeaway from this chart is that the number of active properties has plummeted 21% since last year.  There is a shortage of inventory in almost all price ranges which causes prices to rise.  As a result of the low inventory numbers, buyers are making quicker decisions on properties which is reflected in the declining number of average of days on market.  The housing market continues to bolstered by historically low interest rates that make owning a home easier than at any time over the last century.

July 2016 Absorption Rates

The absorption rate is the rate at which available homes are sold in a specific real estate market or price range during a given time period.  It is calculated by dividing the total number of available homes by the average number of sales per month.  The rate represents the number of months it would take to clear out available inventory if no other homes come on the market.  At the present time, homes that are priced below $300,000 are selling rather quickly and we’re in a seller’s market and prices are increasing.  If you have a home above $500,000, you are facing an overabundance of inventory where buyers have a wide selection of homes to choose from.

Until next month – – – all the best!