Lancaster County PA Real Estate Market Report December 2013

By
Real Estate Agent with Coldwell Banker Residential Brokerage, Lancaster PA RS134746A

 The Lancaster County Association of REALTORS® (LCAR) recently released market data for Lancaster County real estate through October 2013.  The 418 homes sold in October comprised a 6.6% increase over the 372 units sold in October 2012.  There was an increase in the average sale price as well, up 1.2% to $189,730 from last October’s $187,567.

However, the median price (for which half sold above and half sold below) was $165,000, vs. $174,900 for October the previous year.  This apparent discrepancy is due to the fact that more high priced homes have sold this year, raising the average price – yet, even more low priced homes were sold, thereby lowering the median price.

 

674 new listings came on the market in October, which is up 14.4% from 589 in October 2012.  Homes that went under agreement in October were up 5.9% as well, to 415 in 2013 from 392 in 2012.

 

LCAR president Mike Julian said, “For the first 10 months of the year, we are 7.0 percent ahead of sales during the same period of 2012”. 

 

In addition, in a surprise move, Federal Reserve Board policy makers, in a so-called “taper” cut back the monthly amount of stimulus by $10 billion/month – a sign that they feel the economy is beginning to expand again.  The markets have responded positively to the move so far.

LCAR’s poll of local lenders showed an average conventional 30-year mortgage at 4.34%, still quite low by historical norms.  15-year fixed mortgages averaged 3.39%.  (These figures should be taken only as relative indicators, as FICO credit scores will affect individual rate quotes). 

Wishing you all a Merry Christmas and a healthy, prosperous New Year!

Brian

 

 

 

 

 

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Brian Schulman offers expert real estate representation for buyers and sellers of homes in Lancaster County, PA.  To learn more, visit http://www.FindLancasterHomes.com/

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Rainmaker
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Brian, thanks for the Lancaster County PA Real Estate Market Report.

Jan 20, 2014 08:41 PM #3
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Brian Schulman
Coldwell Banker Residential Brokerage, Lancaster PA - Lancaster, PA
Lancaster County PA RealEstate Expert 717-951-5552

Gabe, thanks for stopping by.

Jan 21, 2014 09:23 PM #4
Rainmaker
2,331,998
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Brian. Nice job with your report, lots of great information, very detailed and easy to understand.

Thank you for commenting on my post.

Jul 08, 2014 11:12 PM #5
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Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

Hi, Brian.  Great report on your market.  Are you still doing these market reports?

Aug 07, 2014 07:16 AM #6
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Brian Schulman
Coldwell Banker Residential Brokerage, Lancaster PA - Lancaster, PA
Lancaster County PA RealEstate Expert 717-951-5552

Hi Suzanne, recently I have been doing a newsletter for prospects and clients every couple of weeks.  I may start the market reports again in the future.

Aug 07, 2014 10:59 PM #7
Rainmaker
2,417,652
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

Brian, do you have more current market reports?  This one is almost a year old.

Oct 29, 2014 01:16 PM #8
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Brian Schulman
Coldwell Banker Residential Brokerage, Lancaster PA - Lancaster, PA
Lancaster County PA RealEstate Expert 717-951-5552

I have been doing a different newsletter for a while.  I may go back to the market reports in the future.

Oct 30, 2014 05:50 AM #9
Rainmaker
2,417,652
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

Brian, I am re thinking how I am doing mine too.  I got a new windows 8 laptop and the program I have for printing my newsletters won't print from it.  We can't figure it out...

Oct 30, 2014 02:11 PM #10
Rainmaker
727,676
Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

Brian-That's a solid increase in sales for the area. Hope your market remains strong.

Jan 03, 2015 02:50 AM #11
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I was looking for your current blogs. I hope all is going well for you.

Jan 21, 2015 11:50 PM #12
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Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Hi, Brian...thanks for stopping by my post and leaving a comment. I hope to see you writing more soon on AR. 

Sep 23, 2015 04:19 PM #13
Rainmaker
1,680,021
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi Brian Schulman , Hopefully your market has improved like ours since your research on this report in 2013.

Dec 12, 2015 11:02 AM #14
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Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Hi, Brian...this is a great market report. I can't wait to see some more current ones from your area. Thanks for stopping by and commenting on my permanent record post. 

Mar 02, 2016 08:03 AM #15
Rainmaker
1,680,021
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Good evening Brian Schulman ,  Nice market report! It helps us to see what the trends are across the country.

Jun 29, 2016 12:00 PM #16
Rainmaker
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Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

What a great marketing report! Buyers will appreciate knowing you're knowledgeable too!

Jul 18, 2016 03:49 PM #17
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Hi Brian!  Our 2013 was our BIG turn-around year also!  We were SO grateful to be in the midst of a boom - FINALLY!!

Aug 19, 2016 01:24 PM #18
Rainmaker
5,820,952
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thank you very much for your comments on my blog today.

Have an outstanding week. I hope you will soon be posting blogs.

Sep 19, 2016 10:09 AM #19
Rainer
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Kim Gaston
RE/MAX Advantage Realty - Colorado Springs, CO
Colorado Springs REALTOR®, CNE (719)661-6987

Brian, I appreciate you commenting on my blog. 

Hope you have a happy, healthy and prosperous 2017!

Jan 02, 2017 09:38 AM #20
Rainmaker
5,820,952
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Blog about some of the best places for craft beer tasting in Lancaster.

Jan 12, 2017 04:41 AM #21
Rainmaker
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Ricardo Mello
Manhattan Miami Real Estate - Manhattan, NY
Manhattan & Miami Real Estate Agent

Happy Friday Brian 

Jul 19, 2018 09:56 AM #22
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