Real Estate Market Conditions

March 2012 Lancaster Real Estate Market Conditions

May 11, 2012

According to a recent LCAR report,there were 855 sales in the first quarter of 2012, a 12.9 percent increase from the 757 units sold during 2011. The five-year average number of sales for the first quarter is 805. There were 249 sales in January 2012, 249 in February and 357 in March compared to 218 sales in January 2011, 242 in February and 297 in March.

March 2012 Lancaster Real Estate Market Conditions

March 24, 2012

According to a recent report by the Lancaster County Association of Realtors® (LCAR), the 234 homes sold in January is a 7.3 percent increase from the January 2011 mark of 218.

The average sale price for January 2012 is $175,446, an increase of 0.5 percent from the January 2011 price tag of $174,570. This is the first year-over-year monthly price increase since comparing November 2010 to 2009. The median sale price for January 2012 is $157,995 compared to $167,335 in 2011 (half of the properties sold during this period sold above the number, and half sold below). The fiveyear average sale price for the month of January is $178,563. For January, there were 703 new listings in 2012, a 9.3 percent increase from the 2011 new listings of 643. The five-year average of new listings for the month of January is 691.

Pending sales, homes that went under contract in the month of January, increased 22.6 percent from 288 in 2011 to 353 in 2012. Each reported price range posted healthy gains from 13.9 to 62.5 percent. Eight of the last nine year-over-year monthly comparisons for pending home sales have increased. Over 41.4 percent of homes that sold in January were on the market 60 days or less.

February 2012 Lancaster Real Estate Market Conditions

February 9, 2012

The 325 homes sold in December is a 4.1 percent decrease from the December 2010 mark of 339. For 2011, there were 3,962 sales, a 3.6 percent decrease from 4,112 units during 2010. For the fourth quarter there were 945 sales in 2011, a 1.3 percent increase from the 933 mark in the fourth quarter of 2010. There were 305 sales in October 2011, 315 in November and 325 in December compared to 279 sales in October 2010, 315 in November and 339 in December.

The average sale price for December 2011 is $181,079, a decrease of 2.6 percent from the December 2010 price tag of $185,940. The median sale price for both December of 2010 and 2011 is $169,900 (half of the properties sold during this period sold above the number, and half sold below). The average sale price for all of 2011 was $175,202 with a median sale price of $162,500, which compares to $188,238 in 2010 with a median sale price of $171,500.

For December, there were 367 new listings in 2011, a 22.2 percent decrease from the December 2010 new listings of 472. For the fourth quarter, new listings decreased 19.7 percent from 1,907 in 2010 to 1,532 in 2011. There were 7,993 new listings in 2011 compared to 8,644 in 2010, a 7.5 percent decrease.

December 2011 Lancaster PA Real Estate Market Conditions

January 6, 2012

According to a report released today by the Lancaster County Association of Realtors® (LCAR), the 309 homes sold in November is a 1.9 percent decrease from the November2010 mark of 315. For January through November of 2011, there have been 3,600 sales, a 4.6 percent decrease from 3,773 units during the same period in 2010.

The average sale price for November 2011 is $171,523, a decrease of 4.2 percent from the November 2010 price tag of $178,997. The five-year average sale price for the month of November is $178,175. The median sale price for November of 2011 is $157,000 compared to $164,900 in November 2010 (half of the properties sold during this period sold above the number, and half sold below).

For November, there were 555 new listings in 2011, a 32.5 percent decrease from the November 2010 new listings of 822. The five-year average of new listings for November is 609.

Pending sales, homes that went under contract in the month of November, increased 16.0 percent from 307 in 2010 to 356 in 2011. Over 43 percent of homes that sold in November were on the market 60 days or less.

November 2011 Lancaster, PA Real Estate Market Conditions

December 16, 2011

The Real Estate Market in Lancaster County remains somewhat flat, though we hope it has begun to stabilize. 309 residential properties settled in November, 2011, down slightly from 2010. The average price continued to slide, falling another 4.2% from 2010. For the fourth month in a row, Pending sales have improved over 2010's numbers, offering hope that the market has stabilized. As of December1, there were 3188 residential listings in Lancaster County.