Lancaster Market Update – May 2021
The Lancaster real estate market remained busy in May of 2021, as it’s been for several months. We continue to see homes selling very quickly, often for prices well above asking price.
Here is a comparison looking at the May 2021 market versus the May 2020 market. The important thing to remember when looking at these numbers, however, is that real estate in Pennsylvania was shut down for almost all of May 2020. So while an 81% increase in sold listings looks like a huge jump, this is because homes were actually not able to settle for most of the month in May 2020.
Median sales price remains on the rise throughout 2021, as you can see by the 14% increase over last year, with the median sales price being at $260,000.
One thing we cannot stress enough in the current market – having an experienced licensed realtor on your side when you’re ready to make a move. While it may seem like anyone can sell a home right now, having an experienced expert putting their knowledge to work for you can give you the edge in competing offer situations, assist you in not overpaying for a home, making sure you get top dollar when selling, and so much more.
If you’ve got questions about the market, we’re always here to answer them, or help in any way we can. Never hesitate to reach out.