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)
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
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.
(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
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.
On the national front, the Case-Shiller Index of national home prices continues to reflect a healthy housing industry with no major red flags on the horizon. Continue reading
And you thought Old Man Winter had taken a vacation. I think it was just a coffee break before he decided to really get to work. Oh well, on to the numbers.
(Click on any of the charts to enlarge and/or download)
A steady rise in average sales price bodes well for the real estate industry. This past month, the benchmark inched closer to the $200,000 mark and was up 4% over last year at this time. Homeowners across the board are finding that the equity in their homes that had been lost during the Great Recession, is making a steady comeback. In fact, according to Core Logic, just over 1 million borrowers moved out of negative equity during 2016, increasing the percentage of homeowners with positive equity to 93.8% of all mortgaged properties, or approximately 48 million homes. As the economy strengthens, this will only get better. Continue reading
The month of November has come and gone, and with it, the cool, crisp air has turned a little frosty. But that change in temperature has not deterred the local real estate market from continuing to perform at a high level. Take a look at the numbers.
(NOTE: Click each slide for a larger image.)
The average sales price in Lancaster County ticked up 1% in November as compared to last year. This steady rise is good news for those people that saw the equity in their home get squeezed during the Great Recession of 2006-2010. It appears that the $200,000 is right around the corner. Continue reading
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