Changes possibly looming for Lancaster County’s real estate market

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LANCASTER, Pa. (WHTM) – Lancaster County has become a popular destination to call home. It’s been a seller’s market when it comes to real estate in the county in recent times. But that could be changing.

“We’ve been tracking a few trends that might suggest a little bit more of a turn in the market,” said Jeff Peters of RE/MAX Evolved.

Over the previous four to five years, Peters has noticed some differences.

“[Houses] inflated in value, maybe staying on the market a little bit longer,” said Peters. “It just seems as though some buyers have a little bit more negotiation power with their offers today.”

Even with the county’s continued growth making it difficult for buyers to find exactly what they want, Peters acknowledges patience may be the key to victory.

“For buyers out there, there’s hope. There has been an overwhelming feeling of fatigue for buyers that have been in this market.”

Buying with cash remains popular because it allows purchasers to avoid high interest rates. However, if you’re thinking about selling, Peters says now is as good a time as any.

“[It’s] still certainly a really good time to sell. That is without question because inventory is still very low.”

Nobody knows the future. Yet, Peters thinks there is a chance that buyers can start reclaiming ground from this seller’s market.

“[It’s] probably going to level off somewhat. I do see more of a balanced market, still favoring heavily towards sellers.”

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