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.
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- 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.
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.
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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
Since social media websites began, the conversation among REALTORS® has raged on as to its importance in the business of real estate. Five years ago, engaging on social media was considered by many in our industry to be a colossal waste of time and resources.
The detractors claimed that viewing pictures of what someone had for dinner last night or playing Candy Crush was never going to help an agent grow their business. Well, I think we can all agree that if an agent uses social media for those purposes, the naysayers are absolutely right.
However, research groups are now using metrics to assess the importance of social media because we now have a history of how its significance has evolved over time – and the data supporting its impact is indisputable.
In its latest survey of home buyers and sellers¹, the National Association of REALTORS® asked the question of thousands of consumers who recently bought and sold real estate, “How important is agent communications?” Here is the chart outlining the findings:
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Thirteen percent of consumers now say it is important for their agent to be active on social media. This may not seem like a big number but consider that when the same question was asked of consumers four years ago, the number was 3%. For those that don’t want to crunch the numbers that’s a 433% jump in a relatively short period of time.
So now that we’ve determined that there might be something to this social media ‘stuff’, how does an agent use it to their advantage? Continue reading
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
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.
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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
Another successful year of Lancaster Barnstormer baseball is almost in the books. It’s been quite a ride this season with two games left with the division-leading York Revolution and two games back in the standings. Let’s hope they can squeeze out the final pair and force a playoff. Now for the numbers – – –
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After a steady rise in average sales price over the past couple of years, August saw the first decline in a long time. Not to worry. Sales activity is still steady but home buyers are more active in the lower price ranges which has caused the average sales price to dip just a bit.