Carol Lehman (pictured above at right) offers years of Lancaster County real estate experience. She’s weathered the rollercoaster of the industry, helping clients during buyers’ markets and sellers’ markets. She offers an outlook on the real estate market as of March 2021.
Inventory in Lancaster County, and central Pennsylvania, remains incredibly low. Basic economics—supply and demand—teach us that low inventory commands higher prices. Add in interest rates hovering around 3 percent (as of 3/1/21), and prices for single family homes in Lancaster County increase dramatically.
This combination produces multiple offers on home listings. Buyers are consistently offering top dollar and in some cases thousands of dollars over list price. They are also willing to forego many standard contingencies like inspections and appraisals. Buyers are also willing to act quickly and accommodate your timing.
Truthfully, I haven’t ever seen a better time to sell. This is especially true if you are transitioning to a retirement community, where you are investing in a lifestyle with a fixed price that doesn’t fluctuate with the real estate market.
However – you need to be ready for the rush! As soon as your listing is active, you will see a rush of buyers wanting to walk through to see your home. An experienced agent will have strategic marketing plans to help the process go as smoothly as possible for you. They will also help you to coordinate timing for closing so the transition to your next home is as seamless as possible.
According to the National Association of Realtors several indicators point to the housing market to remain strong in 2021. January 2021 reports show that home sales are up 24% from one year ago.
Even though all of these factors point towards sellers getting top dollar for their homes, presentation is still important. We still see value in investing in repairs or fresh paint. We also recommend staging because it will help to market your home.
Realtors will offer a free consultation to help you think through the selling process. We recommend you request that consultation months before you list your home; advance notice allows a realtor to offer you solid advice and gives you the freedom to make upgrades and prepare at a slower pace. This is especially true if you are unsure when you will actually move.
As you are starting to work through taking this next step and questions come to mind please reach out. We want to support you and be a resource for you. We offer years of experience assisting clients transitioning to Garden Spot Village and understand the challenges you may face.
View the site plan to see currently available homes.