Lancaster Real Estate Market Update

    We can hardly believe 2017 is already here! Our team had an amazing year in 2016 and we are so looking forward to what 2017 has to bring.

    Each month here on the blog we give you the latest market update provided by the Lancaster County Association of Realtors. Here are some highlights from LCAR’s press release:

    • 505 homes sold in November 2016 – a 30% increase from 2015
    • 488 new listings in November 2016 – a 14.8% decrease from 2015
    • 422 homes went under contract in November 2016 – a 7.4% increase from 2015
    • The average sales price in November 2016 was $197,467

    “All signs are pointing toward a very strong finish for home sales this year. The 30.8 percent home sales increase from November 2015 to 2016 is the largest increase we’ve seen for any monthly comparison since sales rose nearly 50 percent from November 2008 to 2009,” said LCAR president Lynn Zimmerman. “The rise in average sale price appears to be slowing somewhat in part due to the fact that a prolonged tight inventory is leading more consumers to purchase a home that might need some serious work and TLC to become their dream home . . . so less desirable properties are now on the move more.”

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