Special offer

Plenty of Buyers in Lancaster Co., PA !

By
Real Estate Agent with KW Elite

Lancaster's Buyer Demand Outpacing the Supply of Homes for Sale

Buyer Demand Continues Outpacing the Supply of Homes for Sale | MyKCM

The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.

Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).

Buyer Demand

The map below was created after asking the question: “How would you rate buyer traffic in your area?”

Buyer Traffic | MyKCM

The darker the blue, the stronger the demand for homes in that area. Only three states had a ‘stable’ demand level.

Seller Supply

The index also asked: “How would you rate seller traffic in your area?”

As you can see from the map below, 21 states report a ‘weak’ sellers traffic, 25 states report a ‘stable’ sellers traffic, only 4 states and DC report a ‘strong’ sellers traffic. Meaning there are far fewer homes on the market than what is needed to satisfy the buyers who are out looking for their dream homes.

Seller Traffic | MyKCM

Bottom Line

Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet the buyer demand, prices will continue to increase. If you are debating listing your home for sale, let’s get together to help you capitalize on the demand in the market now!

Sellers , now is the time to get your property on the market ! Email mikeperrykw@gmail.com to learn your updated 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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Comments (2)

Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

419 views

Apr 23, 2020 05:42 AM
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Plenty is not a strong enough term in 2020. !

Nov 27, 2020 08:39 AM