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Pending Sales Highest Since April 2004;
Lancaster County Real Estate Continues Upswing
Lancaster, PA — The Lancaster County Association of Realtors® (LCAR) released their
monthly recap of the area’s real estate market activity in April 2010. The market continues to show
steady improvement which, according to LCAR, may be a reflection of a slowly strengthening
economy.
• Pending home sales rose to 648 from 484 in April 2009—a 33.9 percent increase. This is the
largest number of pending sales in April since 2004.
• Pending sales in all price ranges reflected double digit increases:
Price Rnage April 2010 April 2009 Percentage
$0 - 100,000 75 51 47.1
100,001 - 200,000 354 268 32.1
200,001 - 300,000 154 117 31.6
300,001 - 400,000 47 32 46.9
400,001+ 18 16 12.5
Total 648 484 33.9
• New listings increased 32.2 percent over April 2009.
• Nearly half (49 percent) of the homes and condos that sold in April were on the market for 60 days
or fewer.
LCAR president Bob Rose commented, “This is the eleventh straight month we’ve seen an increase in
pending sales. While the average sale price was down 1.9 percent over last April, we’re still seeing a
5.0 percent increase over the same time period (January through April) last year.”
“While I still think the tax credits were a contributing factor, we’ve seen the numbers go up in all price
ranges which reflects broader market improvement.” “Even without the tax credit, there are a number of market factors making this an exceptionally good time to buy—historically low interest rates and reasonable prices. Our market remains strong and stable, so we’d expect to see steady activity through the summer.”