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)

2018 05 May Market Stats - Avg Sales Price

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

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

The old saying, “April showers bring May flowers” is a reminder that even the most unpleasant of things, in this case, the heavy rains of April, can bring about very enjoyable things indeed – an abundance of flowers in May.  The lesson?  Patience.

So how did the rains of April affect Lancaster County’s real estate numbers?  Let’s take a look.

(Click on each infographic for a larger version)

2018 04 April Market Stats - Avg Sales Price

The Average Sales Price made a huge jump in April – 9%.  We have been humming along for months between 1-4% so this is a significant change.  As you will see when we examine the Absorption Rates this month, the upper price ranges (i.e. $400,000+) are now starting to move which is a good sign. Continue reading

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.

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

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)

2017 11 November Market Stats - Average Sales Price

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

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.

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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

Lancaster County Real Estate Market Statistics for August 2017

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