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Summer 2010 Market Update
Market Commentary Provided byJeff Funk and Colleen Blythe If you can qualify, now is an exceptional time to buy a home in Lancaster. Low rates with falling home prices makes a home purchase a great value! Call now for more information at Jeff @717-314-0500 or Colleen @717-587-4565 |
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| Average Home Price | $175,000 - View Graph Trend |
| Average Price Compared to Last Year | No Change |
| Average Time on Market | 90-120 days |
| Best Selling Price Range | $150,000 - $199,000 |
| Worst Selling Price Range | $600,000 - $649,000 |
| Prices As % of Asking Price | 90-95% |
| Existing Home Prices for the past 90 days are? | No Change |
| Market Trend | Increasing |
| Buyers’ or Sellers’ Market | More sellers than buyers |
| Buyer Activity for the past 90 days in Lancaster is | Decreasing |
| Seller Activity for the past 90 days in Lancaster is? | Increasing |
| Multiple Offers? | No |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 10-15% |
| Is Financing Available For Qualified Buyers? | Yes |
| Housing Inventory | Good supply - Some Prices |
| Greatest Activity | First Time Buyers |
| Reason to Buy/Sell | Population Growth |
| Nearest Metro Area | Lancaster |
| Housing Hot Spots | |
| Average Sold Price | $175,000 - View Graph Trend |
Lancaster Local News
Repeat Buyers & Investors With Cash Boosting Home Sales & Prices In Many Markets, New HouseHunt Survey Shows
For the first time in nearly three years, repeat buyers and investors have overtaken first-time buyers as sales leaders once again in the nation's housing market. As a result, prices of bank-owned REOs and properties involved in short sales are being bid up by multiple offers and cash buyers in many neighborhoods, according to the latest HouseHunt quarterly current market conditions survey.
"The current ratio of 58% to 42% favors repeat buyers," said Michael Bearden, president and CEO of HouseHunt, Inc. "This is an increase of 10 percentage points over a year ago and 24 points over six months ago. In a more balanced market of supply and demand, repeat buyers usually lead by a two-thirds ratio."
Click here for full article...
For the first time in nearly three years, repeat buyers and investors have overtaken first-time buyers as sales leaders once again in the nation's housing market. As a result, prices of bank-owned REOs and properties involved in short sales are being bid up by multiple offers and cash buyers in many neighborhoods, according to the latest HouseHunt quarterly current market conditions survey.
"The current ratio of 58% to 42% favors repeat buyers," said Michael Bearden, president and CEO of HouseHunt, Inc. "This is an increase of 10 percentage points over a year ago and 24 points over six months ago. In a more balanced market of supply and demand, repeat buyers usually lead by a two-thirds ratio."
Click here for full article...
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Jeff @717-314-0500 or Colleen @717-587-4565Blog Archives
Mortgage Rates
– Jul 30th, 2010 –
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30 yr. fixed rate: 4.60%---------------------------------
15 yr. fixed rate: 4.07%
30 yr. jumbo rate: 5.42%
15 yr. jumbo rate: 4.98%
Home Values
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Jeff Funk and Colleen Blythe
Charles & Associates |
Jeff @717-314-0500 or Colleen @717-587-4565 |
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