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When is this market going to change?

Lisa Naples • Jul 30, 2021

You know the old saying: when life gives you lemons, make lemonade.  When life gives you an impossible real estate market, hang on for a wild ride.  If you hang on long enough, you will find a home. And you’ll have some incredible stories to share with your friends and family of the real estate adventures you had along the way.

There are signs of a slight slow down in the real estate market.  A small reduction in showings and fewer competing offers.  The demand is not going anywhere, though, so don’t expect a dramatic change. If you hang in there long enough you’ll write the right offer at the right time and it will be accepted.

The market statistics are in for June.  The average days on the market for the 666 homes sold in Lancaster County during the month of June was 16, compared to 44 days last year.  $296,678 was the average home price in June, compared to $265,979 last year.  The average home sold for 4% over list price.  Yes, the average home sold for well over the asking price.

We watch these statistics each month to see what is trending in the market.  I suspect the average sale price is ready to inch up more slowly than it has been for the last year. Do you have questions about a specific area of Lancaster County?  Want to find out what is typical in your town or school district?  Contact the Lisa Naples Team for more information.

 

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