Here is a market update for Lancaster County Real Estate. Despite the holidays and colder weather and stubborn interest rates, buyers are still very motivated, hence the 6% increase in sale price in December compared to a year ago.
Here are some interesting stats from the National Association of Realtors for 2024 which show the impact that low inventory and rising prices is having on the market. The first-time homebuyer market share decreased to a historic low of 24% (down from 32% last year), while home buyers’ ages hit all-time highs of 56 years overall (49 last year), 38 years for first-time buyers (35 last year) and 61 years for repeat buyers (58 last year),
Thinking about buying or selling (or maybe both)? Wondering how the current market conditions might impact your plans? I am happy to share with you what to expect and how you can best prepare.