Is East Lampeter Township, PA 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, East Lampeter Township has remained a Seller's Market.
Key Takeaway
East Lampeter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East Lampeter Township, PA
How much do homes in East Lampeter Township, PA cost?
Median Sold Price
$358,750
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in East Lampeter Township have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in East Lampeter Township was $358,750 in May 2024, up 8.1% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $240K | $240K | 0.0% |
| 3 Bedrooms | $295K | $345.5K | +17.1% |
| 4 Bedrooms | $460K | $437.5K | -4.9% |
| 5+ Bedrooms | $565.4K | $759.9K | +34.4% |
Summary: East Lampeter Township 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 did not change, 3 bedroom homes increased by 17.1%, 4 bedroom homes decreased by 4.9%, and 5+ bedroom homes increased by 34.4%.
Median Sold Price Compared To Nearby Cities
| Lancaster | $274.6K | $310.6K | +13.1% |
| East Lampeter Township | $331.7K | $358.7K | +8.1% |
Housing Supply in East Lampeter Township, PA
How many homes are available in East Lampeter Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 39 | 43 | +10.3% |
Summary: The East Lampeter Township real estate market had 43 homes for sale in May 2024, a 10.3% 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 | 4 | 5 | +25.0% |
| 3 Bedrooms | 14 | 18 | +28.6% |
| 4 Bedrooms | 16 | 15 | -6.3% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The East Lampeter Township 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 increased by 25%, 3 bedroom homes increased by 28.6%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 8 | +33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Lampeter Township, expect to pay close to the asking price. 62.5% of homes here sold near the asking price last month.
Summary: A total of 8 homes were sold or pending in East Lampeter Township in May 2024, up by 33.3% month-over-month. Of the 8 sold homes, 0% were sold under asking, 63% were sold at asking, and 38% were sold over asking.
Days on Market for East Lampeter Township, PA
How long does it take to sell a home in East Lampeter Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 10 Days | 7 Days | -21.3% |
Summary: Homes in East Lampeter Township had an average of 7 days on market in May 2024, down by 21.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in East Lampeter Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in East Lampeter Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
