home sales: Market Update for Franklin County PA - December 2013
- 01/11/14 10:35 AM
FRANKLIN COUNTY REAL ESTATE - DECEMBER 2013 Home sales in Franklin County Pennsylvania turned in a strong finish in December, at least when compared with December of 2012. One hundred homes changed hands, up 17.7%, while the dollar value of homes sold was up 24.1% to $16.3 million, and the median sold price, at $150,000, was up 11.1% from $135,000 last year. Average selling prices increased 13.2% year-over-year for detached homes and declined 7.9% for attached houses, reflecting continued weakness among condominiums and three bedroom town homes. The average sold price of attached two bedroom homes, mostly one-level towns and … (1 comments)
home sales: Market Update for Franklin County PA - October 2013
- 12/04/13 12:31 AM
FRANKLIN COUNTY REAL ESTATE - OCTOBER 2013 Home buyers have continued to enjoy an edge over sellers in Franklin County PA this fall. While the pace of sales has slowed in recent months, the inventory of homes available for sale has increased, putting a damper on prices locally. The number of homes for sale has been going up since March and last month stood at 904, a 9.3 month supply and 8.5 percent more than in October of last year. This situation favors buyers; a balanced market, in which neither side has an advantage, would have five to six months of … (0 comments)
home sales: Market Update for Franklin County PA - September 2013
- 12/04/13 12:26 AM
FRANKLIN COUNTY REAL ESTATE - SEPT 2013 For September 2013, the housing market in Franklin County, PA rolled along with mostly minor changes from the prior month and the prior year as well. The story in Washington County, MD was quite different, however, as a trend that began in May accelerated in September. In Franklin County, the number of homes sold (settled, not merely under contract) was 120, down 4.0 percent from 125 in September 2012. Active listings—that is, homes available for sale—plumped up 5.8 percent to 894, from 845 last year. The average days-on-market for the homes that sold was 122, … (0 comments)
home sales: Market Update for Franklin County PA - August 2013
- 09/17/13 01:37 AM
Market summary – August 2013 Sales in August jumped up nearly a third from a year ago, but what this means going forward is unclear. One month’s results in a small market—or even a big market—do not a trend make. Indeed, unit sales have been up most months in 2013 from the year earlier, but sales were down in March, May and June.
So what’s going on? Well, maybe the 152 homes sold in August, up 31% from 116 last year, changed hands because of better weather this summer, or greater consumer confidence, or compelling Realtor® TV spots. Or, it … (0 comments)
home sales: Market Update for Franklin County PA - July 2013
- 08/12/13 06:35 AM
Where has the summer gone? In two weeks, school starts up again. In July, a sudden increase in mortgage rates caught the real estate world by surprise. Other than that, the homes market in Franklin County, Pennsylvania continued its march forward, with unit sales up nearly 10% from July 2012. Average and median sold prices also were up, at 2.9% and 4.6% respectively. The number of new listings in July was a healthy 209, up 18.8% from a year ago, but this was more than offset by stronger demand so that the active listing count, at 843, was down 2.8% from … (0 comments)
home sales: Market Update for Franklin County PA - June 2013
- 07/16/13 01:20 AM
Market summary – June 2013 At the mid-point of this recovery year, we’d hope to see the homeownership train chugging along the track toward a stronger market - for those selling, at least. Well, let’s see: In Franklin County, the average and median prices of homes sold in were up in June from the previous month and the previous year. The median sold price for the first six months of 2013 was up 3.5%, to $150,000, from the same period in 2012. New pendings, homes placed under contract during June, were up a healthy 11.5% over June 2012. More sellers dipped … (0 comments)
home sales: Are 5 Percent Rates Around the Corner? - Mortgage Minute 7/12/13
- 07/12/13 05:51 AM
INTEREST RATES FOR HOME LOANS have trended better three of the first four days of this week, and they probably would have trended better yesterday had the speech by Federal Reserve Chairman Benjamin Bernanke occurred before the markets closed. Government-guaranteed loans (FHA, USDA, VA) for well-qualified borrowers are back down to 4.125 percent at no cost (3.875 percent costs a discount point.) The rate for a Conventional 30-year fixed-rate loan is around 4.625 percent for an ideal borrower with no points.
The sad part is that this nearly a full week of improvement in rates only partly offsets the horrible … (0 comments)
Interest rates on home loans have gone up sharply in the last two weeks and continue to rise. The Federal Reserve’s Open Market Committee met on June 18-19, and the result of their meeting was to spook the interest rate market, causing rates to increase at least an additional .25% yesterday. Rates continue to climb, and conventional rates have reached 4.5% as of today. Market watchers expect that rates will continue to rise over the next several weeks as the Federal Reserve works to unwind the quantitative easing (or QE) that they have had in place the past few … (0 comments)
home sales: Local Market Update for Franklin County PA - May 2013
- 06/11/13 12:50 AM
Market summary – May 2013 By now, everybody knows that the national housing market is in recovery (read: rising prices in virtually every city.) But, we aren’t that concerned about the market in Sacramento or Denver, are we? We want to know what’s happening in Franklin County, Pennsylvania. This spring in Chambersburg (and all of Franklin) the story seems to be one of ‘two steps forward, one step back.’ Market indicators are trending positive, as expected given the national picture, but there’s back-sliding here and there so that overall growth in sales and prices remains clear and yet modest.
Let’s … (0 comments)
home sales: Local Market Report - Franklin County PA - August 2012
- 09/27/12 03:26 AM
Was it the long, hot summer that took some of the wind out of the real estate sails locally in August? Sales in August, 2012 continued to strengthen overall, both in Franklin County, PA and neighboring Washington County, MD, but in detail the results were a mixed bag. The number of homes sold in Franklin, at 116, was off 10.1% from August 2011 and down by a wider margin, 11.5%, just from the previous month. Home sales so far in 2012 still were running 6.9% ahead of 2011. In Washington County, only 107 units sold, down 15.1% from last August, … (2 comments)
home sales: Local Market Report - Franklin County PA - June 2012
- 07/22/12 11:56 PM
Forward motion toward a healthier real estate market continued in Franklin County in June 2012. Almost every measure marked an improvement compared with June 2011. Dollar volume of settled homes was up 18.0%, the number of homes sold (135) was up 13.5%, and the average sold price, at $171,043, was up 4.1%. The median price of sold homes was unchanged. Average days on market for sold properties improved to 131 days, down almost 15% from last year. Most dramatically, pending sales increased 26.1%, and the inventory of active listings declined by 23.7%, portending higher prices (or at least continued stability) in … (0 comments)
home sales: Local Market Report - Franklin County PA - April 2012
- 07/22/12 11:55 PM
Real estate in Franklin County has been trending toward a healthier, more balanced market for nearly a year. That positive trend accelerated in April 2012 as nearly all measures showed marked improvement compared with the same month last year. Dollar volume, at $17.4 million, was up 16.9%, and unit sales were up 11.7%, to 105. Average sold prices rose by 4.6%, and the average days-on-market fell by the same percentage. Fourteen homes sold in ten days or less, but then again, seven properties sold in April after more than a year on market. The number of active listings advanced slightly to … (0 comments)
home sales: Local Market Report - Franklin County PA - March 2012
- 07/22/12 11:52 PM
Prices appear to have stabilized this spring following a still-weak winter season. Many observers predict that prices will remain flat for at least the next 18 months. Positive trends in motion since last summer accelerated smartly in March 2012, as the Franklin County real estate market turned in a strong performance at the start of the spring season. Unit sales shot up by 19.6% compared with March of last year, and total dollar volume was up by 19%. Government-backed financing (FHA/VA/USDA) factored in about 40% of closings, with cash sales at 27% and conventional loans 33%. The big news … (0 comments)
home sales: Local Market Report - Franklin County PA - February 2012
- 07/22/12 11:37 PM
February 2012 results for the real estate market in Franklin County were...disappointing, but anecdotal evidence indicated March was looking up in terms of buyer activity. Despite mild weather, dollar volume was down 24% from February 2011, and unit sales were 66, down 13.2%. A third of those 66 sales were for cash while 38% were government-backed financing (FHA/VA/USDA). Now, the good news: Pending sales were up a huge 31% from February of last year. Short sales, which can take anywhere from two to five times as long as a regular sale from contract to settlement, are partly responsible for this … (0 comments)
home sales: Local Market Report - Franklin County PA - November 2011
- 07/22/12 11:10 PM
Home sales for Franklin County (population 145,000) for November 2011 were up by nearly 17% from the same month in 2010. Active listings declined by about 12% to a ten months’ supply, the same level as in October (five to six months’ supply is considered stable.) Twenty-two percent more homes were placed under contract in November compared with 2010, but total of pending contracts was up just 4%.
Sales of lower-priced homes have been brisk, pushing down total dollar volume by 6.7% from 2010 and depressing average and median prices by 20% and 24%, respectively. … (0 comments)
home sales: Market Stats for Franklin County PA - May 2010
- 06/14/10 03:42 PM
And now, for anyone who wants to know, click for the stats for homes sold in Franklin County PA in May 2010. By the way, the good folks at Long & Foster Real Estate produce really nifty Market Minutes for about 100 counties in southeast Pennsylvania, all of Maryland and the District of Columbia, most of Virginia and parts of Delaware, New Jersey and West Virginia. See what's up or down in your local market! Here's the full link to Market Minutes on LNF.com: http://www.longandfoster.com/Market-Conditions/Market-Minutes.aspx … (2 comments)
The Peter Gibaud Team blog reports on the real estate market in south-central Pennsylvania, particularly Franklin County PA and Lancaster County PA. Local happenings and tips about home hunting and home ownership are discussed from time to time.
FRANKLIN COUNTY REAL ESTATE - DECEMBER 2013
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