Lancaster County Real Estate Market Report February 17, 2010

By
Real Estate Agent with Prudential Homesale Services Group

Here are the numbers from my February 6, 2010 searches in the Lancaster County MLS:

                 Active Listings   UA Listings   Ratio     Prior year Ratio

Feb 6, 2010     2,931               554      18.90%       16.37%
Jan 7, 2010     2,772               413      14.89%       16.05%                (keep in mind that this is useful
Dec 7, 2009     2,873               439      15.28%       18.19%                in watching trends emerge and
Nov 4, 2009     2,907               641      22.05%       20.43%                change in the market)
Oct 6, 2009      2,882               759      26.34%       22.65%
Sep 8, 2009     2,884               773      26.80%       24.12%

The Lancaster County Association of Realtors publication, House Calls, reports in the February 2010 issue that Government Housing Incentives help spur the Market.  This is referring to the $8,000 first-time home buyer tax credit, and the $6,500 seller/buyer tax credit.  These credits were extended to include sales that go under agreement before April 30, 2010 and settle before July 1, 2010.

House Calls also reports in the February 2010 issue that home sales for 2009 were 1.8 percent lower in 2009 than they were in 2008, but up 23.8% in the 4th quarter of 2009 compared to the same period in 2008.  House Calls also reports that the amount of time that homes are on the market is shortening, especially late in 2009.

We are seeing much more activity in the market recently.  Buyers are looking at homes and preparing offers that sellers are accepting.  I recently had some sellers get multiple offers on their home, and they were pleased with the result.  The snow storms we had recently affected buyer activity somewhat, but soon the snow will stop falling and Spring will arrive with a flurry of buyer and seller activity as people take advantage of the tax credit.  If you haven't heard about the $8,000 tax credit, please contact me and I'll be happy to forward information about it to you.  If you are thinking of moving or know someone who is, the credit is a valuable part of the transaction.

If you know someone who is thinking of buying or selling, please recommend they call me.  I'll also be happy to contact them if that is appropriate.

By the way, I'm never to busy to take care of clients you refer to me.

Thank You!

Prepared by:   J. Merle Sollenberger, GRI, CRS, Associate Broker, Realtor®
Prudential Homesale Services Group
150 North Point Boulevard, Lancaster, PA 17601
717-560-9100     www.msollenberger.com        msollenberger@topproducer.com

Licensed in PA

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Merle J. Sollenberger

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