Limited inventory continues to affect our local housing market conditions, as the number of Settled Units dropped 18% from this time last year. And despite the interest rates rising to 7%, the Average Sale Price held steady at $352,165. Buyer demand is still high and many Sellers are still receiving ...
Continue ReadingThe housing market stats for Lancaster County look very similar to last August. Settled Properties, Average Days on Market and Average Sales Price are all very similar. One key difference is the outlook on inflation and the resulting impact on mortgage interest rates. Heading into last fall all projections were ...
Continue ReadingStrong buyer demand continued in the month of June as properties took on average 6 days to sell and prices rose another 8%. This all despite interest rates continuing to rise. As long as inflation continues to hold steady the higher rates will most likely be here to stay. Buyer ...
Continue ReadingMay looked very similar to April. Strong buyer activity, interest rates in the low 6’s and low inventory. It’s the low inventory that is the driver of the stats below. The number of settled properties (down 18% from this time last year) would be much, much higher if there more ...
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