Is Lancaster City Township, OH 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 City Township has remained a Seller's Market.
Housing Prices in Lancaster City Township, OH
How much do homes in Lancaster City Township, OH cost?
Median Sold Price
$215,000
$157/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lancaster City Township was $215,000 in May 2024, up 10.4% from last year, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $85.5K | $87K | +1.8% |
2 Bedrooms | $150.7K | $170K | +12.8% |
3 Bedrooms | $200K | $219K | +9.5% |
4 Bedrooms | $270K | $300K | +11.1% |
5+ Bedrooms | $253K | $374.9K | +48.2% |
Summary: Lancaster City Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.8%, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 48.2%.
Median Sold Price Compared To Nearby Cities
Lancaster | $205K | $239.9K | +17.1% |
Lancaster City Township | $194.8K | $215K | +10.4% |
Pleasant Township | $297.1K | $317.5K | +6.9% |
Hocking Township | $310K | $325K | +4.8% |
Greenfield Township | $300K | $290K | -3.3% |
Housing Supply in Lancaster City Township, OH
How many homes are available in Lancaster City Township, OH?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
151 | 175 | +15.9% |
Summary: The Lancaster City Township real estate market had 175 homes for sale in May 2024, a 15.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 1 | -66.7% |
2 Bedrooms | 22 | 30 | +36.4% |
3 Bedrooms | 84 | 101 | +20.2% |
4 Bedrooms | 35 | 35 | 0.0% |
5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Lancaster City Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 36.4%, 3 bedroom homes increased by 20.2%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
55 | 50 | -9.1% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Summary: A total of 50 homes were sold or pending in Lancaster City Township in May 2024, down by 9.1% month-over-month. Of the 50 sold homes, 14% were sold under asking, 22% were sold at asking, and 64% were sold over asking.
Days on Market for Lancaster City Township, OH
How long does it take to sell a home in Lancaster City Township, OH?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
10 Days | 13 Days | +29.2% |
Summary: Homes in Lancaster City Township had an average of 13 days on market in May 2024, up by 29.2% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 50 homes were sold in Lancaster City Township; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.