The beginning of the month typically marks another market update from u s! We love to provide you some highlights from each month’s press release that we receive from the Lancaster County Association of Realtors (LCAR) so that you’re informed on the pulse of the market.
- December 2016 saw 484 homes sold, a 10.3% increase from 2015
- Homes sold in the fourth quarter of 2016 were up 12% form 2015
- Average sales price for December 2016 was $209,412 which is a 11.4% increase from 2015
- Nearly 66% of homes sold in December were on the market for 60 days or less
“Sales began a downward trend after peaking in 2005 at 6,453 units. The low-point during the recession was 4,006 sales in 2011, and the climb back from that mark brought us to the third highest year of sales ever in Lancaster County in 2016 with 6,095 homes sold,” said LCAR president Jennifer King. “Despite a tight inventory all year long, low interest rates, high consumer demand and economic expansion all created an ideal housing market in 2016. The average sale price for the year rose at a healthy 3.7 percent rate.”