The warmer months have long been considered the logical time to buy or sell a home. In Lancaster County, 2017 has primarily seen a seller’s market with average homes values climbing steadily through the winter and early spring months. But Lancaster County has its own timetable, and national market trends don’t always apply to this area as much as you may believe.
Data: Zillow.com
Although warmer months may see an increase in activity, the most important factor you should look at is whether or not the time is right for you. Regardless of national trends or local trends, the most overlooked area when deciding to buy or sell is whether you and your family are prepared for this life changing event
Even though this is considered a seller’s market and you are more likely to sell your home at a higher price, you still must wait for the motivated buyer to walk through your front door. You may hear stories of homes flying of the market only days after being listed, but those homes are possibly in the lower price ranges. When selling an exclusive upscale home, there may be a price to pay, and that price is patience.
As interest rates rise on a national level, those mortgage rate adjustments may take longer to take effect here than in other parts of the country.
The bottom line is that the median and average sales price for homes in Lancaster County has risen over the last year, making it a great time to sell. Also, if you are looking to buy a home, interest rates are still low, making now a better time to buy that you may find down the road.
If you have any questions or would like to schedule a consultation free of charge, e-mail Patrick at Patrick@TeamTrimble.com or call (717) 286-9686
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