Lancaster PA 3rd Quarter Sales

According to a recent report by LCAR, there were 1,307
sales in the third quarter of 2012, a 17.3 percent increase
from the 1,114 units sold during 2011. The five-year
average number of sales for the third quarter is 1,187. There were
432 sales in July 2012, 491 in August and 384 in September
compared to 357 sales in July 2011, 408 in August and 349 in
September. Year-to-date there have been 3,494 sales in 2012, a
15.4 percent increase compared to the same period in 2011 of 3,028.
The average sale price for September is $189,584, an increase of 11.6
percent from the September 2011 price tag of $169,934. For the third
quarter of 2012, the average sale price was $186,341, a 5.0 percent
increase from the $177,482 average sale price for the third quarter
of 2011. The five-year average sale price for the third quarter is
$189,699. The median sale price for September 2012 is $169,000
(half of the properties sold during this period sold above the
number, and half sold below) compared to $162,500 in September
2011. The median sale price for the third quarter of 2012 is $169,900
compared to the third quarter 2011 median price of $165,000.
For September there was a 2.6 percent decrease from the 605 new
listings in 2011 to the 589 new listings in 2012. For the third
quarter, new listings remained virtually the same at 2,007 in 2012
and 2,006 in 2011. The five-year average of new listings for the
third quarter is 2,120.
Pending sales, homes that went under contract in the month of
September, increased 38.5 percent from 299 in 2011 to 414 in
2012. Over 52 percent of homes that sold in September were on
the market 60 days or less.
“Without government assistance or programs, the housing market is gradually healing on its own,” said LCAR president Quentin Miller. “Pent-up demand paired with really favorable housing conditions gives us every reason to be optimistic that our local market will continue to post favorable numbers as we move into the final quarter and the new year ahead.” House Calls A MONTHLY REVIEW OF THE RESIDENTIAL REAL ESTATE MARKET IN LANCASTER COUNTY November 2012 Vol. 11 Issue 14  Home Sales Report page 2  Mortgage Rates page 4  Third Quarter Sales Statistics, page 4  Year-To-Date Home Sales Report page 3  Third Quarter Sales Graphs, page 4 Positive Housing Indicators for Third Quarter

Note: All 2012 statistics in this issue are from FlexMLS as of October 15, 2012

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