June 2017 Market Statistics

Here’s a look at the June real estate market statistics for Franklin county PA from Showing Time. June was one of the healthiest months of the year for home sales with total volume up over 15% from the previous year.  All indicators were in positive territory including average sold price and days on market.  Part of the reason for the rebound in prices is the continued lack of inventory in the market.  Active listings were down nearly 14% from June of last year. Take a look at the statistics by clicking on the link. Contact me for a Free Market Analysis on your home.

Franklin County June 2017 Statistics

May 2017 Franklin County PA Market Statistics

Here’s a look at the May market statistics for Franklin County.  It shows a little pause in the recovery with sales off slightly over May of last year with sales off 8.8% year over year.  The report does show a continuing increase in the average price of a home, up over 5% versus last year.  To view the full report from RBR market statistics, please click on the link.  If you’d like to know the value of your home today, contact me for a free market analysis.

Franklin County May 2017 Stats

Franklin County April Market Statistics

Sales in April continued at a steady pace year over year with signs that homes are selling at a quicker pace than the previous year.  Bad news for buyers is that the inventory numbers continue much lower than last year, down by 10%. Future sales, however, are showing some signs of weakness with the total number of pending sales down 15%.

If you would like to know the value of your home, please call me to schedule a free market analysis.

Franklin County Market Statistics April 2017

What’s on Home Shoppers’ Wish Lists

A new realtor.com® survey reveals the top desires of home buyers today: Ranch-style homes, big backyards, and updated kitchens.

More than half of home buyers say they’re on the hunt for a three-bedroom home, and 75 percent want a two-bathroom home as well, according to realtor.com®’s home buyer survey. The survey also showed a strong demand for townhouses and row homes among younger home shoppers, as 40 percent said they are looking for a townhome or row home to purchase. However, as home buyers age, single-family homes clearly are the top preference.

“The insights from our most recent consumer survey provide a glimpse into what buyers are looking at today,” says Sarah Staley, housing expert for realtor.com®. “While we often think of dream homes as being big and bold, that’s not what we’re hearing from potential buyers today. These insights can help guide potential sellers in deciding which rooms or features to invest in before listing their homes.”

Here’s an overview of some of the top features that emerged on buyers’ wish-lists, according to the survey:

The most-searched attributes at realtor.com®: Large backyards, garages, and updated kitchens

These three attributes were popular across all age groups. That said, younger home buyers with young children showed the most desire for finding a large yard and the greatest interest in living near a good school district.

The least-searched features among buyers: a guesthouse, mother-in-law suite, solar panels, and a “man cave.”

The most desired home style: Ranch homes

Forty-two percent of home shoppers say they’re looking for a ranch home, the clear leader. The second most common home style was a contemporary home at 28 percent, followed by Craftsman and Colonial styles.

The favorite room in the home: Kitchens

Eighty percent of home buyers ranked the kitchen as one of their three favorite rooms in a home, followed by master bedroom (49 percent) and living room (42 percent). (However, shoppers over 55 years old preferred garages over living rooms.)

The top goal when searching for a home: Privacy

The majority of home buyers said privacy and having a space that was solely their own was a top goal when in house-hunting mode. Buyers between the ages of 45 and 64 years old tended to value privacy the most, with privacy in the home topping other preferences like stability, family needs, and financial investment among this age group.

What motivates millennial home buyers the most: Family needs

Most millennials surveyed cited life events like an increase in family size, getting married, or moving in with a partner, as what primarily motivated them to find a new home. Home purchasers age 35 to 44 also cited family needs as the top motivation to buy. The majority of this age group also said they wanted to find a better school districts or that changing family circumstances was their motivation to buy. Home buyers over the age of 45, on the other hand, cited a chief motive to move as they were looking to downsize as they plan ahead for retirement.

Source: realtor.com®

February Market Statistics

Here’s your look at the February market statistics for Franklin County.  The market showed a slight decrease in sales over the same month last year but the average price of a home increased by nearly 8.5%.  Remembering that this is a “supply vs. demand” world, the supply of homes on the market is over 16% lower than last year which likely is pushing some of the prices a bit higher.  The number of new listings did rise by 20% for the month which is a good thing for buyers in the market.  Please click on the link for the complete February report.  Want to talk about buying or selling a home?  Give me a call to discuss how Help-U-Sell can help you save!

Franklin County February 2017 Statistics

Why New Homes Are About to Get Pricier

With the cost of building materials jumping 25 percent year over year, according to the National Association of Home Builders’ NAHB/Wells Fargo Housing Market Index, builders are increasingly concerned about how this will affect home buyers in the new-construction market. In 2016, builders ranked the cost of building materials low on their list of concerns—but now it’s one of their top five.

The increased cost of lumber is a chief catalyst. “Negotiations on a new softwood lumber agreement between the United States and Canada ground to a halt at the end of 2016 and likely are stalled pending the results of an investigation into unfair import practices requested by the U.S. Lumber Coalition,” the NAHB reports.

Because of this, home buyers likely will face price hikes. According to the NAHB/Wells Fargo Housing Market Index, builders cited the following as the 10 most significant problems they expect to face in 2017:

  1. Cost/availability of labor: 82%
  2. Cost/availability of developed lots: 67%
  3. Impact/hook-up/inspection or other fees: 61%
  4. Building material prices: 60%
  5. Federal environmental regulations and policies: 52%
  6. Local/state environmental regulations and policies: 52%
  7. Regulation of banking/financial institutions: 48%
  8. Development standards (parking, setbacks, etc.): 47%
  9. Inaccurate appraisals: 46%
  10. Health insurance: 40%

Source: “Material Costs Spike as a Menacing Builder Worry,” BUILDER (Feb. 28, 2017)