Trend 8: Blockchain + Real Estate

Redesigning the Brokerage Relationships with Agents and Consumers

This is the third blog post in a series of ten that covers the trends that will shape the residential real estate industry in 2019 and beyond according to the publication, Swanepoel Trends Report 2019. The views, thoughts, and opinions expressed in this post belong solely to the author, and not necessarily to the author’s employer or the publication cited.

If you’re like me, your eyes glaze over when someone tries to explain what Blockchain is. Most people that write about the topic are techno-geeks who are trying to impress you with their level of knowledge on the topic. Unfortunately, the average person gets lost in the Blockchain jargon about the second sentence into an article and they stop reading.

The average person’s understanding of Blockchain is illustrated perfectly in this comic:

*‘Dilbert’ comic courtesy of Scott Adams*

Well here’s one of the reasons why you should want to pay attention and try to understand this concept and how it could effect the real estate business: forty of the top financial services companies have already invested over $1 Billion (yes – with a ‘B’) in Blockchain company infrastructure in the hopes of reducing costs in the future.

Let me try to explain Blockchain in simple terms to that you can understand it.

Continue reading →

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

May is always a month of transition. Winter is definitely behind us but summer is not quite here. Some nights you can sleep with the windows open to breathe in the refreshingly, cool air; some nights it’s downright frigid and the windows are closed.

All across Lancaster, small signs are appearing right before our eyes that point to what lies ahead of us in just a few short weeks – – like the corn sprouting from small seedlings in hundreds of fields across the county.

Is the real estate market sprouting and following suit? Let’s look at the numbers . . .

(Click on each infographic for a larger version)

Average Sales Price – We cracked the two and a quarter mark for the first time ever. Up 7% from last May. This healthy rise is mainly due to extremely low inventory levels which don’t appear to be going up anytime soon. Continue reading →

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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)

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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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)

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 →

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

The familiar sight of the sun rising over the horizon on a frigid morning and its beams reflecting off of the frosty blades of grass tells us that winter is just around the corner, and with it, another year will be in the books for Lancaster County real estate. As we start preparing for the holidays, let’s take a look at the numbers.

(Click on each Infographic for larger size)

The average sales price shot up over ten percent from last year’s number. This is a function of supply and demand as inventory levels are at some of the lowest levels in a long time which is causing the price of homes to increase. Homeowners’ equity, which plummeted during the Great Recession, has risen and surpassed the 2006 peak which is a welcome development. Continue reading →

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

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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%.

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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)

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 →

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