Statistics

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 →

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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.

(Click on any of the images for a larger view or to download)

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 →

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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 – – –

(Click on images for a larger view or to download)

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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 →

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Lancaster County Real Estate Market Statistics for February 2017

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)

2017 02 February Market Stats - Avg Sales Price

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 →

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Lancaster County Real Estate Market Statistics for November 2016

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.)

november-2016-market-stats-avg-sales-price

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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Lancaster County Real Estate Market Statistics for September 2016

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.

september-2016-market-stats

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 →

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Style Over Substance or Vice Versa

Today’s real estate agent needs to be armed with knowledge of their marketplace and continually strive to stay current with changes and trends in their profession. This sales meeting deals with how market statistics can be used to more effectively work with clients, Facebook advertising to promote open houses, twelve changes/additions to PAR’s standard library of forms, and working through the inspection contingency in the standard agreement of sale.

All the best!

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