Lancaster Home Sales:
Third Quarter 2008
According to a recent
report by the Lancaster County Association of Realtors® (LCAR), the 1,166 homes
sold in the third quarter of 2008 is a 28.4 percent decrease from the third
quarter 2007 mark of 1,628. This year there were 437 sales in July, 392 in
August and 337 in September; this compares to 584 in July of 2007, 617 in August
and 427 in September. The five-year average of third quarter home sales is
1,600. The average sale price for the third quarter of 2008 is $192,755, a
decrease of 3.3 percent from the third quarter 2007 price tag of $199,318. The
five year average third quarter sale price is $188,103, and the average third
quarter price in 1998 was $125,132. (Note: July and August 2007 were
the only two months to ever record an average sale price in excess of $205,000.)
The median sale price for the third quarter of 2008 was $177,000
compared to $180,000 for the third quarter of 2007 (half of the properties sold
during this period sold above the number, and half sold below). For the first
three quarters of 2008, the median sale price was $174,900 compared to $175,900
in 2007.
Lancaster County Housing Market
- Third Quarter Statistics
| |
5 Year Average |
Record |
2007 |
2008 |
Q3 Trend |
| Settled Units |
1,600 |
(2005) 1,772 |
1,628 |
1,166 |
Down 28.4% |
| Average Sales Price |
$188,103 |
(2007) $199,318 |
$199,318 |
$192,755 |
Down 3.3% |
| New Listings |
2,229 |
(1995) 2,488 |
2,419 |
2,176 |
Down 10.0% |
This information has been reprinted with permission from House Calls, the
Official Publication of the Lancaster County Association or Realtors..
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