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Lancaster County PA: Home Sale Market Report - 2011 June
Lancaster County PA:  Home Sale Market Report - 2011 June
The following report was released yesterday by the Lancaster County Association of REALTORS (LCAR):
Upward Month-Over-Month and Pending Sales Show Significant Increase LANCASTER-According to a report released today by the Lancaster County Association of Realtors® (LCAR), 378 homes sold in May of this year, a 22.1 percent decrease from the 485 sales in May 2010 when the government-sponsored tax credits were still impacting the marke (contracts had to be signed by the April 30, 2010 deadline; however, settlements from the tax credits continued to be reflected in the May and June statistics). During the first five months of the year, there was a 13.6 percent decrease from the 1,642 sales in 2010 to 1,445 in 2011.
Pending sales, homes that went under contract in the month of May, increased 42.4 percent from 269 in 2010 to 383 in 2011. The tax incentives in 2010 motivated prospective buyers to sign a contract before May 1st, so there was a rush to beat the deadline and then 2010 activity slowed. Over 45 percent of homes that sold in May were on the market 60 days or less.
The $169,785 average sale price for May 2011 ... more

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