How to begin a conversation with a seller who doesn’t see the value of working with you in a hot seller’s market.
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
The month of September is behind us and if you take the time to walk along some of the nature trails in Lancaster County, you’ll soon start seeing a wonderful palette of orange, yellow, and brown leaves that will greet you. Let’s take a look at the numbers for September – – –
NOTE: Click on any of the charts to enlarge and/or download.
Increases in the low to mid price ranges are the categories that are fueling the steady assent. This bodes well for continued strength in the real estate market. Continue reading