The Lancaster County Association of Realtors(R) reports that 490 homes sold this May, a 15.1% decrease from May 2006. However, the average May sales price was $195,173, which was an 8.1% increase from May 2006. However, the average sales price was down from the record April 2007 average of $200,996.
New residential listings were up 9.7% to 912 properties, up from 831 listings in May 2006. Interest rates are still historically low, and home sales are still fairly strong. although slower when compared to the hot markets of the last few years.
In Lancaster County our market seems to be following the national trend of somewhat slowing sales, except that local prices are actually still up for the year-to-date.
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