Lancaster Homes Market Comparison Report (february 2009 Vs. February 2010)

We analyze several housing market indicators in order to present an in-depth breakdown

of Lancaster Homes Market comparing February 2009 to February 2010.

Summary of Key Points

Lancaster Homes has started showing signs of improvement with median sales price climbing up while at the same time houses are selling faster

Key Statistics, Lancaster, CA: Median Sales Price (7.54%), Median Days on Market (23.63%), and Number of Units Sold (-18.37%), Sales Price to List Price Ratio (Feb 09 92% - Feb 10 100%).Median sales price increased and sellers received their asking price as compared to 92% last year. The market is on a recovery mode.

Lancaster Homes

The city of Lancaster experienced a 7.54% increase in median sales price from last year going up from $150,059 (Feb. 09) to $161,377 (Feb. 2010). Median days on market data for Lancaster shows that houses are selling slower than Feb 09. It took 53 days in Feb 09 for a house to sell and for Feb 10 that number has gone up to 66 days (a 8.38% deterioration). Another important factor to consider is total number of units sold. In the month of Feb 09, 49 units were sold compared to 40 for Feb 10 (-18.37% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for Lancaster. SP/LP ratio for Feb 09 was 92% compared to 100% for Feb 10.

Lets take a brief look at neighbors Palmdale and Burbank. Palmdale Homes featured a 1.02% decrease in median sales price ($160,127 Feb 09 - $158,495 Feb 10) and Burbank Homes saw a 24.69% increase ($476,991 Feb 09 - $594,740 Feb 10). Are houses in Palmdale and Burbank selling faster or slower this year? Well, Palmdale experienced a 114.42% increase (32 to 69 days) in median days on market and Burbank saw a 12.58% decrease (58 to 51 days). In the units sold category, Palmdale sold 25 units less (-32.89%) in Feb 2010 than 09 and Burbank sold 8 units less (-24.24%) in Feb 2010 than Feb 09.

Consult latest research and find Homes in all major cities in California including Lancaster Homes, Palmdale Homes, Burbank Homes.

You can also access Lancaster Homes for viewing the latest market inventory

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In addition you will find comprehensive Lending information on FHA, VA, USDA, and Conventional Loans. There are web pages for each major city in California with loan products specific to the city including City Down Payment assistance offered.

by: Shaye P

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