Is Lancaster, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lancaster has remained a Seller's Market.
Key Takeaway
Lancaster is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lancaster, MA
How much do homes in Lancaster, MA cost?
Median Sold Price
$515,000
$264/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lancaster have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in Lancaster was $515,000 in May 2024, up 7.3% from last year, and the median price per square foot was $264.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $206K | N/A |
| 2 Bedrooms | $442.4K | $435K | -1.7% |
| 3 Bedrooms | $415.5K | $507K | +22.0% |
| 4 Bedrooms | $605K | $675K | +11.6% |
| 5+ Bedrooms | $699.9K | $505K | -27.8% |
Summary: Lancaster housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.7%, 3 bedroom homes increased by 22%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes decreased by 27.8%.
Median Sold Price Compared To Nearby Cities
| Bolton | $770K | $880K | +14.3% |
| Harvard | $851K | $950K | +11.6% |
| Lancaster | $480K | $515K | +7.3% |
| Clinton | $397K | $404.7K | +1.9% |
Housing Supply in Lancaster, MA
How many homes are available in Lancaster, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 26 | +23.8% |
Summary: The Lancaster real estate market had 26 homes for sale in May 2024, a 23.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 9 | 13 | +44.4% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The Lancaster housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 44.4%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lancaster, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Lancaster in May 2024, up by 25.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for Lancaster, MA
How long does it take to sell a home in Lancaster, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 31 Days | 59 Days | +86.0% |
Summary: Homes in Lancaster had an average of 59 days on market in May 2024, up by 86% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lancaster are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Lancaster; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
