Lancaster County Housing Report September 2020

September 18, 2020

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August was another incredibly strong month for real estate in Lancaster County.  The number of settled properties did decrease compared to last August, however that isn’t due to lack of buyers.  The first image below shows the issue.  Inventory continues to stay at record low numbers, which is keeping buyers from buying their next home, which in turn keeps those buyers who currently own a home from selling it.  This means the competition is very stiff for buyers, which has translated into sellers receiving multiple offers, many of which are above list price.  Buyers are extra motivated to find a property so that they can take advantage of the historically low interest rates.  If you’d like to know how the housing market trends are impacting the value of your property or if you are a buyer and are wondering how you can beat out your competition in this crazy market, I am here to help!