Bill Remorenko, Realtor
HIGHLAND REALTY GROUP
Lancaster, PA
717.291.6400 x143
717.201.2666 cell
Similar Home Sales Numbers
Posted with permission of the Lancaster County Association of Realtors
LANCASTER—According to a report released today by the Lancaster County Association of Realtors
The $176,352 average sale price for January 2011 is a 6.2 percent decrease compared to the January 2010 price tag of $188,107. The median sale price for the month in 2011 is $169,900 versus $165,000 for the first month of 2010 (half of the properties sold during this period sold above that number, and half sold below). The difference in average sale price can be largely explained by the fact that in 2010 there were 11 homes that sold at $400,000 or more; in 2011, there were only 4 homes. When comparing January 2001 to 2011, the average sale price increased 45.2 percent from $121,443 in 2001. There was a 15.3 percent decrease in the number of new listings from 759 in January 2010 to 643 in January 2011.
Realtors® (LCAR), 206 homes sold in January of this year, a 0.5 percent decrease from the 207 sales in January 2010. Pending sales, homes that went under contract in the month of January, changed marginally from 303 in 2010 to 301 in 2011. Over 44 percent of homes that sold in January were on the market 60 days or less.
“Lancaster real estate agents are reporting that activity is picking up with more calls and increased traffic at open houses; plus the January numbers this year are very similar to 2010,” said LCAR president, Glenn Yoder. “That is very encouraging news, because the numbers this year stand alone without the influence of the government sponsored tax credit program that continued to be in play for the first four months of 2010.”
Brandon Clark, Realtor® at Gateway Realty, Inc., said, “I’ve seen a distinct attitude shift among my clients lately. They are moving ahead with their plans . . . realizing they may be selling their home for a bit less; however, the new home is also less, so it’s all relative. Buyers are realizing that the ‘historically’ low mortgage rates give them a lot of buying power.”
LCAR, representing nearly 1,500 members involved in all aspects of the real estate industry, is one of more than 1,800 local associations nationwide which comprise the National Association of Realtors®.
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