Lancaster Real Estate Market Update

The Lancaster County Association of Realtors (LCAR) recently released their latest press release with a real estate market update. According to LCAR, 2015 was the strongest year for home sales since 2007. Here are a few highlights from the press release:

  • Average sales price for the fourth quarter of 2015 is $193,470
  • Pending home sales in December 2015 (355) increased by 0.9% from 2014 (352) while new listings in December decreased by 6.2% from last year
  • Nearly 64% of homes sold in December were on the market 60 days or less

“When we look at the last two years, there was a 10.7 percent increase in home sales from 5,023 in 2014 to 5,558 in 2015 – that is the highest level of yearly sales since 2007 (5,746),” said LCAR president Lynn Zimmerman. “There was also a healthy 3.5 percent increase in the average sale price. Looking at these key markets shows how far we have come since our 2011 low during the recession of just over 4,000 sales.”

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