Ok friends, let’s shine the light on a couple myths floating around out there regarding the real estate market right now. There’s no denying that it’s a different market, and sometimes conflicting signals. But that’s kinda the case every year, and misconceptions floating around about this market, coupled with people filling airtime trying to “predict” what’s going to happen next aren’t making things any easier.
So what, exactly, are those misconceptions, and why are they incorrect? Let’s discuss some of the common myths in today’s housing market that are hurting both buyers and sellers, including:
So, what does it all mean for you? Exactly what we have been saying. Now is a good a time to buy, or sell, as any. People move because they want to, or need to, and despite headlines to the contrary, yes you can buy. We are helping people do it all the time. We can help you too. Let’s talk about it.
Looking to sell or buy anywhere in Central Pa? Call 717-371-0557!
Your Friends in Real Estate,
Jason Burkholder Real Estate Team
Jason Burkholder
Kelly Burkholder
Adam High
Jaci Hoosier
———————-
Jason Burkholder
AB066232
717-371-0557 direct or text
Associate Broker
Realtor, e-Pro, RENE, AHWD
Certified Marketing Specialist
C2EX Endorsed, Certified Ally
Jason Burkholder Real Estate Team
Welcome Home Real Estate
717-298-8040 office
57 E Main St
Lititz, Pa 17543
www.JasonsHomes.com
The numbers are in- closed sales are up in Lancaster County and for Pennsylvania as a whole! We’re still moving forward with a lot of buyers buying, and sellers selling, despite a lower inventory that has been making headlines for the last few years. If you’re thinking of selling or buying, it is as good a time as any. Call us, let’s talk about the headlines and numbers, what they do and don’t mean for you. Lots of “affordable homes” are selling, as you can see based on median sales prices, and lots of folks are successfully closing with mortgages, so you aren’t losing to “cash buyers” all the time. That myth is pretty pervasive, so we continue to try and dispel that with facts.
Let’s talk about those June numbers now! You probably noticed, it’s almost the end of July, so why are we talking about June? Well, closed sales are what they call a lagging indicator, it takes a few weeks after the end of the month for us to say the closings are all recorded, and the data is accurate, so, we are always a little behind.
Anyway, back to the point! Closings are up a little, which means the number of homes hitting the market are continuing to increase a little. Expect more of the same this year in general, opportunity is there if you’re interested in making a move.
You’ll see a bit of a lag next month, as seasonal vacations slow down things, but don’t look at that as an indicator, think of it like highway traffic when you’re headed to the beach. It slows you down, but soon enough you pass it and get where you’re going! June and July are big vacation months in South Central Pa and the mid Atlantic, so you’ll see it reflected in the numbers next month.
Let’s start with Pennsylvania in general: Compared to May, closed sales are up 12% overall, with a total of 12,383 for the state (according to PAR)
In Lancaster County, closed sales are up 25%, and as always, our area outperforms many parts of the state. Here’s a look:
In June, almost 70% of homes were bought with financing. You don’t need to pay all cash to get a home in this market. We’re connected with experienced lenders, with every program imaginable. Call or text us at (717) 371-0557 and we’ll get you on the right path!
Median Sales Prices and Number of Units Sold for Lancaster County School Districts in June 2023:
Solanco (15): $375,00
Pequea Valley (3): $343,519
Penn Manor (40): $328,450
Columbia (13): $215,000
School District of Lancaster (85): $235,900
Eastern Lancaster (21): $285,000
Conestoga Valley (16): $320,500
Lampeter Strasburg (17): $355,000
Warwick (26): $372,500
Cocalico (22): $319,900
Elizabethtown (26): $318,500
Manheim Central (23): $280,000
Ephrata (48): $352,00
Donegal (21): $280,000
Manheim Township (65): $425,000
Hempfield (62): $355,000
Zooming out of Lancaster County, here’s what the surrounding counties look like:
Need help buying or selling in any of these counties? We’re happy to help! Give us a call or text at (717) 371-0557
Your Friends in Real Estate, Jason Burkholder Real Estate Team
——————
Jason Burkholder
Kelly Burkholder
Adam High
Jaci Hoosier
717-371-0557 direct or text
Welcome Home Real Estate
717-298-8040 office
57 E Main St, Lititz, PA 17543
As we begin to step out of the “spring market,” things are picking up in Lancaster County!
Compared to April, we had more units sold, more new listings, and roughly the same number of pendings. When the June report comes out, we’ll likely see more pendings as these new listings go under contract!
What does this mean? It means there’s opportunity for everyone. Buyers and sellers. The market is active. There’s room for you too.
When it comes to pricing in Lancaster County, here’s where we’re at:
The percentage of homes bought with a mortgage has held steady this year. We’re connected with experienced lenders, with every program imaginable. There could be financing options you’re not aware of! Reach out at (717) 371-0557 and we’ll connect you with the right lender for you.
Median Sales Prices and Number of Units Sold for Lancaster County School Districts in May 2023:
Solanco (12): $390,662
Pequea Valley (9): $405,000
Penn Manor (35): $325,000
Columbia (15): $192,000
School District of Lancaster (73): $234,300
Eastern Lancaster (17): $353,250
Conestoga Valley (15): $350,000
Lampeter Strasburg (10): $381,500
Warwick (24): $386,000
Cocalico (17): $309,900
Elizabethtown (37): $290,000
Manheim Central (23): $319,995
Ephrata (25): $312,000
Donegal (17): $269,900
Manheim Township (40): $445,000
Hempfield (36): $311,250
The real estate market is local. Each area can be different. That’s why we include a snapshot for our surrounding counties as well!
Need help buying or selling in any of these counties? We’re happy to help! Give us a call or text at (717) 371-0557
Your Friends in Real Estate, Jason Burkholder Real Estate Team
——————
Jason Burkholder
Kelly Burkholder
Adam High
Jaci Hoosier
717-371-0557 direct or text
Welcome Home Real Estate
717-298-8040 office
57 E Main St, Lititz, PA 17543
This month we’ve got numbers for all of Central PA, courtesy of Bright MLS! Long story short, similar to what we’ve been saying, there’s still plenty of opportunity for buyers and sellers right here in Central PA.
Don’t watch national news for local coverage friends, the numbers won’t tell you the reality here. Home sales (pending and closed) would have been, and would still be, higher if we had more inventory (homes for sale). There is still a lot of buyer demand. Does that mean a buyer can’t compete? No, not at all. The reason the listing inventory isn’t rising is a multifaceted discussion, but the main reason? Buyers are buying as quickly as they come on the market, and then those are the closings you see.
Whether you’re a buyer or a seller, we can help you navigate this market. We’ve been through the ups and downs of the real estate market and have the experience to help you. Questions on these things and what they mean? Just ask, we are here to help !
Let’s dive in!
If you’re a buyer, don’t let the current interest rates scare you away from buying. The interest on rent is still 100% and you can refinance your mortgage when interest rates decrease. Don’t let the market dictate when it’s time to buy, or sell, for that matter. The best time for you to make a move is when it’s right for you!
While homes aren’t sitting on the market long (7 days is the current median), that doesn’t mean buyers don’t have a chance. Work with a Realtor who can help you write competitive offers, while still looking out for your best interests. Yes, that is possible. We can help.
If you look at the column on the right, you’ll see the Home Demand Index (HDI) for each county. HDI “tracks pre-sale activity to measure housing market competitiveness.” Overall, Central PA is at a 93, which is in the “steady” range. You can learn more about the HDI here.
Now, focusing on Lancaster County specifically, here’s a snapshot for April ’23:
Again, if we had more inventory, we’d have more solds and more pendings, but that doesn’t mean you can’t buy.
Mortgages still hold the majority for home financing! This percentage has remained steady the last several months.
Hyper local, this is what Warwick School District looks like:
Median Sales Prices and Number of Units Sold for Lancaster County School Districts in March 2023:
Solanco (13): $355,000
Pequea Valley (2): $410,000
Penn Manor (27): $291,250
Columbia (7): $195,000
School District of Lancaster (55): $215,000
Eastern Lancaster (15): $282,000
Conestoga Valley (13): $307,650
Lampeter Strasburg (17): $355,200
Warwick (20): $335,375
Cocalico (14): $287,500
Elizabethtown (22): $323,750
Manheim Central (20): $323,000
Ephrata (11): $226,000
Donegal (18): $275,250
Manheim Township (36): $384,900
Hempfield (25): $340,000
For our surrounding counties:
Need help buying or selling in any of these counties? We’re happy to help! Give us a call or text at (717) 371-0557
Your Friends in Real Estate, Jason Burkholder Real Estate Team
——————
Jason Burkholder
Kelly Burkholder
Adam High
Jaci Hoosier
717-371-0557 direct or text
Welcome Home Real Estate
717-298-8040 office
57 E Main St, Lititz, PA 17543
Another month, another market update for not only Lancaster County, but also our surrounding counties!
Numbers. They make the world go round, some say math is a universal language. The thing to remember about numbers is that they simply are. What does that mean? They “are”? Well, it means, despite what someone on a Tiktok, Instagram or tv channel says, the world is not ending. The market is not crashing. Far from it actually. Let’s see what the numbers say, and of course, if you ever want to discuss any of this, you can always call us at 717-371-0557!
Let’s look at a snapshot of Lancaster County:
Compared to February, things are getting a little busier, which is exactly what we expected!
When it comes to the median and average sold price for March, numbers are holding steady. Don’t believe the hype friends, home prices are stable and still rising at “normal” appreciation levels.
Here’s where we’re at (based on the 375 units sold last month):
And again, mortgages are still the most popular form of financing.
Median Sales Prices and Number of Units Sold for Lancaster County School Districts in March 2023:
Solanco (24): $310,000
Pequea Valley (4): $400,000
Penn Manor (28): $281,500
Columbia (15): $175,000
School District of Lancaster (75): $229,900
Eastern Lancaster (16): $325,000
Conestoga Valley (18): $319,000
Lampeter Strasburg (13): $395,000
Warwick (19): $325,000
Cocalico (14): $268,000
Elizabethtown (21): $270,000
Manheim Central (12): $348,000
Ephrata (26): $280,719
Donegal (15): $250,000
Manheim Township (39): $383,800
Hempfield (33): $350,000
When it comes to our surrounding counties, here’s where we’re at:
Need help buying or selling in any of these counties? We’re happy to help! Give us a call or text at (717) 371-0557
Your Friends in Real Estate, Jason Burkholder Real Estate Team
——————
Jason Burkholder
Kelly Burkholder
Adam High
Jaci Hoosier
717-371-0557 direct or text
Welcome Home Real Estate
717-298-8040 office
57 E Main St, Lititz, PA 17543
The February numbers are in for Lancaster County! Let’s take a look.
Another month of opportunity for lots of sellers and buyers. Let’s take a quick look at some numbers that you might find useful!
Half of homes sold for less than $260,000. As we said last month, there are affordable homes out there, they are simply selling quickly.
Mortgages are still the most popular way to purchase, versus cash. Not sure what your financing options are? We partner with trusted lenders that offer every program imaginable- give us a call or text at (717) 371-0557 and we’ll connect you with the lender that’s right for you!
The average sales price is a bit different than the median, in the way it’s calculated. They aren’t too different this month though!
302 new listings and 331 listings under contract in February. New homes are coming on the market all the time, and they are selling fast. There’s a home out there for you, you can buy, you just have to be as fast as everyone else! Your best way to do that is to talk to us. Let’s get you ready before you see the home you love, so when you do see it, we can move quickly.
Zooming in, here’s where we’re at for the Warwick School District. The median sales price is a point where the exact middle is, and like most of the county, lots of affordable opportunities pop up each month, as the median is where you find half the sales under that price, and half the sales over it.
Median Sales Prices and Number of Units Sold for Lancaster County School Districts in February 2023:
Solanco (17): $265,000
Pequea Valley (3): $100,000
Penn Manor (18): $265,000
Columbia (4): $267,250
School District of Lancaster (46): $196,750
Eastern Lancaster (7): $385,000
Conestoga Valley (10): $270,500
Lampeter Strasburg (10): $349,000
Cocalico (11): $237,000
Elizabethtown (19): $271,000
Manheim Central (20): $243,000
Ephrata (19): $235,000
Donegal (10): $265,000
Manheim Township (22): $352,450
Not sure where to start when it comes to buying or selling? Want to discuss these numbers and how they affect you? We can help! We’ll tell you what works best for you personally, because when it comes down to real estate, the best time to buy or sell is when it works for YOU!
Your Friends in Real Estate, Jason Burkholder Real Estate Team
——————
Jason Burkholder
Kelly Burkholder
Adam High
Jaci Hoosier
717-371-0557 direct or text
Welcome Home Real Estate
717-298-8040 office
57 E Main St, Lititz, PA 17543
The real estate market is local. There is no national real estate market, just like there is no national weather forecast. Well. There is a “national” weather forecast, it’s just that 99% of it simply doesn’t affect you here in Lancaster County. Wherever you are, always get the local numbers and make decisions based on that. Lucky for you, we have those local numbers!
Did you know that 50% of homes sold for under $300,000 in January? Despite the headlines, buying is within reach.
Again, not everything you hear is true. It’s not all cash buyers out there. The majority of sales are still done with a mortgage. Not sure what your financing options are? We partner with a variety of local lenders, who have every program imaginable, for any buyer’s situation. We’ll connect you with the one that’s right for you! Give us a call or text us at (717) 371-0557 !
Getting more local, here are some numbers for Warwick, and the median sales price for all the school districts in Lancaster County for January. The median sales price is a point where the exact middle is. The median is where you find half the sales under that price, and half the sales over it.
Median Sales Prices for Lancaster County School Districts in January 2023:
Solanco: $284,500
Pequea Valley: $442,500
Penn Manor: $250,000
Columbia: $210,000
School District of Lancaster: $222,500
East Lancaster: $265,000
Conestoga Valley: $267,500
Lampeter Strasburg: $380,000
Cocalico: $322,450
Elizabethtown: $297,000
Manheim Central: $330,500
Ephrata: $227,500
Donegal: $238,000
Manheim Township: $390,000
Not sure where to start when it comes to buying or selling? Want to discuss these numbers and how they affect you? We can help! We’ll tell you what works best for you personally, because when it comes down to real estate, the best time to buy or sell is when it works for YOU! Don’t let the market dictate your life.
Your Friends in Real Estate, Jason Burkholder Real Estate Team
——————
Jason Burkholder
Kelly Burkholder
Adam High
Jaci Hoosier
717-371-0557 direct or text
Welcome Home Real Estate
717-298-8040 office
57 E Main St, Lititz, PA 17543
Have you thought about owning but didn’t think you “made enough money” to buy a home?
Did I mention it’s a Seller’s Market? Homes are moving fast and many with multiple offers! If you see a home you like, waiting can cost you if you don’t move quickly.
Most of us are aware of what “Pi” is. We learned about it in school, probably in junior high, and then we forget much more than it’s that number that goes on and on forever, with no end or solution. And we just know it as 3.14. There’s certainly a lot more to it though.
For instance, it’s a “constant” ratio in circles. And, it’s an “irrational” number. They teach us that, too. Maybe that stuff stuck with you. Maybe not. For me, just knowing the 3.14 part was good enough to get through school. There’s no need now to think about it much beyond that. Pi probably isn’t going to affect you or me one way or another in life.
But then again, there is a rather “constant” and sometimes “irrational” number in real estate that does affect many people. And most people never learn about it in life…at least until they list their home for sale.
