How are Properties Appreciating in Lancaster Co., PA ?

By
Real Estate Agent with KW Elite
http://activerain.com/droplet/4YwS

Year-Over-Year Price Appreciation Reaches Double Digits in 5 Price Categories

The National Association of Realtors’ most recent Existing Home Sales Report revealed that, compared to last year, home sales are up dramatically in five of the six price ranges they measure.

Homes priced between $100-250K showed a 20.7% increase year-over-year. This is an impressive increase, showing that November was an excellent month for home sales in this price range.

But surprisingly, the 20.7% increase in sales in this range was not the highest percent change achieved, as sales of homes over $250,000 increased by double-digit percentages with sales in the $750,000- $1 million range showing the largest increase, up 43.2%!

As prices in many markets continue to accelerate, it is no surprise to see the percentage of homes in the higher price ranges increasing.

Here is the breakdown:

Year-Over-Year Price Appreciation Reaches Double Digits in 5 Price Categories | MyKCM

Homes under $100,000 were the only group to show negative appreciation of sales at -2.4%. This not only points to the lower inventory of homes available for sale in this price range but also speaks to the overall strength of the housing market.

What does that mean to you if you are selling?

Houses are definitely selling. If your house has been on the market for any length of time and has not yet sold, perhaps it is time to sit down with your agent to see if it is priced appropriately to compete in today’s market.

Sellers  prices are appreciating at nearly 6% , driven by a shortage of inventory  ! Email mikeperrykw@gmail.com to learn your updated  2017 Market Value  .

 

 
Posted by

 

Michael J. Perry

KELLER WILLIAMS Elite

www.lancaster4sale.com  

 

1280 Plaza Blvd. , Lancaster, PA 17601

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Longtime West Lampeter resident and Lancaster County Realtor!

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Don Hess 01/04/2017 10:39 AM
Topic:
Real Estate Market Trends
Location:
Pennsylvania Lancaster County Lancaster West Lampeter Township
Groups:
1st Time Buyers
ABR-Accredited Buyer Representatives
It's A Buyer's Market
Buyer Information - What Buyers Need to Know in Today's Market
Advice for Sellers
Tags:
west lampeter real estate news
penn manor real estate news
solanco real estate news

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Harry F. D'Elia
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That seems like a normal appreciation schedule in my opinion.

Jan 04, 2017 06:03 AM #1
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Carol Williams
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Interesting report, Michael.  Thanks for the info.  My German immigrant ancestors settled in Pennsylvania.  Do you know any Klocks?

Jan 04, 2017 08:31 AM #2
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Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

418 views to date !

Sep 11, 2017 08:05 PM #3
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