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)
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