Lancaster County Housing Market Update

January 15, 2024

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Here is a look at the most recent housing stats for Lancaster County.  December is usually a quiet month for real estate. And for the most part 2023 was no different, as the number of settled properties shows below.  However if you look at the Average Sale Price, you will notice a marked increase.  This is due to a drop in interest rates compared to the previous few months.  With the feds announcing a pause (hopefully long term) with the fed rate hikes, mortgage rates quickly dropped which motivated buyers to increase their efforts to have the winning offer.  So far January is showing the same, as buyers have become more aggressive again, hoping to capitalize on the lower rates.  If you are thinking about buying and/or selling a home in Lancaster County I am happy to talk with you about how the current market conditions should help guide your decisions.