Local Real Estate Trends |
From 2007 to 2008 five Lancaster County municipalities saw increases in the number of residential sales. -------------------------------------------- Akron Boro (3.4%) Colerain Twp. (8.3%) Strasburg Boro (21.7%) Terre Hill Boro (22.2%) Upper leacock Twp. (5.9%) During the same time frame 24 municipalities saw a increase in the median sales prices of closed transactions. -------------------------------------------- |
Safe Havens in Real Estate By Louis Jones, Kiplinger.com Nov 21st, 2008 With foreclosures skyrocketing and home prices plummeting, real estate has had a tough year. But in certain pockets across the country the damage has been minimal -- if nonexistent. We found six cities with slow, steady growth, using data from Fiserv Lending Solutions, a home-price research company. These cities' local economies have kept unemployment and foreclosure rates below average. Plus, their affordability index -- a measure of home prices versus family income -- is low. #1 - Lancaster, PA Population: 498,465 Median Home Price: $206,000 12-month change in home value: +1.6% Known as an Amish cultural hub, the city is also home to a diverse group of industries, including printing and food processing. This helps keep the local market stable and unemployment low, as losses in one sector aren't devastating to the overall economy. Locals say Lancaster is a conservative lending market, which limits foreclosures. #2 - Clarksville, TN Population: 265,062 Median Home Price: $130,000 12-month change in home value: +1.4% #3 - Albuquerque, NM Population: 832,774 Median Home Price: $172,000 12-month change in home value: +1% #4 - Burlington, VT Population: 145,360 Median Home Price: $250,000 12-month change in home value: +1% #5 - Pittsburgh, PA Population: 2,355,712 Median Home Price: $137,000 12-month change in home value: +.1% #6 - Johnson City, TN Population: 193,554 Median Home Price: $120,000 12-month change in home value: -.4% |
