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Lancaster County Real Estate Market Update

It’s that time of the month again! The Lancaster County Association of Realtors (LCAR) has shared their latest press release with an update on what is happening in the Lancaster County real estate market. Here are some highlights:

  • 559 homes sold in July 2016 (1.8% increase over last year)
  • 712 new home listings in July 2016 (11.7% decrease from last year)
  • 613 homes went under contract in July 2016 (11.5% increase)
  • 71% of homes that went under contract in July were on the market for 60 days or less

“The record-breaking pending sales number for the month of July shows that we will finish out the active summer selling season on a very strong note,” said LCAR president Lynn Zimmerman. “If there were more properties being listed right now, this strong market would have turned into a phenomenal market . . . the limited supply in the most popular price points is causing homes to sell very quickly amidst multiple offers and record-setting sales prices.”

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