It’s our first look at the real estate market for 2022! January is historically a slower month for the real estate industry here in Lancaster, regardless of the year or market conditions.
In comparing January 2022 to January 2021, Bright MLS reports a drop in both new and sold listings, down 16% and 11% respectively. This is not a huge surprise as inventory continues to be a challenge buyers are facing in our local real estate market today.
Although inventory is still down, prices continue to be on the rise, meaning homes are selling for more, even compared to last year. January saw an 11% increase over the previous year’s median price.
We know that the current real estate market can seem strange and confusing. If you have any questions about the market, what your home might sell for, or the best way to go about buying a home, please never hesitate to reach out to us by using the contact form on the right or calling us at 717.560.5051.