Here are the numbers from my May 7, 2009 searches in the Lancaster County MLS:
Active Listings UA Listings Ratio Prior year Ratio
May 7, 2009 2,845 801 28.15% 34.95%
April 4, 2009 2,861 642 22.44% 32.03%
March 7, 2009 2,812 545 19.38% 31.00%
February 4, 2009 2,730 447 16.37% 24.62%
January 3, 2009 2,660 427 16.05% 21.29%
Looking at the ratio changes from April to May, last year was an improvement of 2.92%. From April to May this year, the ratio improved 5.71%. We still see a slower market than we have for several years, but we need to remember that just a few years ago we talked about the market being hot, and that it could not sustain that pace indefinitely. Homes are generally taking longer to sell, and sellers are not enjoying the eagerness buyers exhibited just three or four years ago.
May 4, 2004, the ratio of under agreement listings to active listings was 128.52%. That means that for every 100 houses actively for sale, there were also 128 that were already under agreement. Recent activity indicates that for every 100 houses actively for sale there are 28 in addition that are under agreement. This shows that there is a significant difference in the market environment.
My personal experience points to the fact that even in that environment, people still choose to move, and therefore buy or sell homes. I have enjoyed being involved in several properties getting sold in the last few weeks. Recently we have seen much more activity in our offices, with stronger activity in new listings and with properties going under agreement than we did a year ago.
There is still economic news that points to the challenges in the housing and financial markets. Unemployment figures remind us that some people are experiencing job losses, and other news indicates that people are generally uneasy about committing to major purchases. Those who are not concerned about their job may find now to be a great time to make a move.
In all of this, as you consider moving, ask yourself if you want a Realtor® with experience and many tools to market properties and help buyers locate a home? Or do you want someone that works for less, just because they are less sure of the value they bring to you.
With my experience and the programs and services I can offer as an agent with Prudential Homesale Services Group, you can look forward to a great experience in buying or selling a home. I'd love to assist you in getting to where you want to go.
Thank You!
Prepared by: J. Merle Sollenberger, GRI, CRS, Associate Broker, Realtor®
Prudential Homesale Services Group
150 North Point Boulevard, Lancaster, PA 17601
717-560-9100 www.msollenberger.com msollenberger@topproducer.com
Licensed in PA
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