Lancaster Real Estate Market Update

The Lancaster County Association of Realtors (LCAR)’s monthly press release provided the following updates on the Lancaster County real estate market. The third quarter has shown the strongest quarterly sales growth in the past six years. Here are some updates:

 

Year over Year Sales

  • Homes sold in September 2015 (525) were up 25.6% from September 2014 (418)
  • The third quarter of 2015 saw a 19.2% increase in sales from the third quarter of 2014
  • Average sales price for September 2015 was $194,303 (a 4% increase from September 2014)
  • There were 746 new listings in September 2015

 

“The last time we saw a stronger quarterly year-to-year comparison than the third quarter 2015 sales vs. 2014 was over six years ago when looking at fourth quarter 2009 vs. 2008,” said LCAR president Jeff Peters. “The Pennsylvania Association of Realtors® reports that closed sales statewide for the third quarter were up 12 percent compared to the same period one year ago. Not only did we outperform the state-wide average, but we also set a new third quarter average sales price record . . . further proof of the continued recovery for local home sales.”

 

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