Is Lancaster, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lancaster is a seller's market

Buyer's
Market

Difference Since January 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, CA

How much do homes in Lancaster, CA cost?

Median Sold Price

$447,791

$260/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

-$2,208(-0.5%)

Key Takeaway

The sold price of homes in Lancaster has remained the same since last year.

Summary: The median home sold price in Lancaster was $447,791 in January 2024, down 0.5% from last year, and the median price per square foot was $260.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $170.5K$192.5K
+12.9%
2 $310K$310K
0.0%
3 $420K$410.4K
-2.3%
4 $474.6K$480K
+1.1%
5+ $575K$579.5K
+0.8%

Summary: Lancaster housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.9%, 2 bedroom homes did not change, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes increased by 0.8%.

Median Sold Price Compared To Nearby Cities

Lake Hughes
+5.6%
Lancaster
-0.5%
Palmdale
-1.2%
North Antelope Valley
-1.2%
South Antelope Valley
-1.8%

Housing Supply in Lancaster, CA

How many homes are available in Lancaster, CA?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
389369-5.1%

Summary: The Lancaster real estate market had 369 homes for sale in January 2024, a 5.1% decrease compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 11
0.0%
2 1820
+11.1%
3 154145
-5.8%
4 173161
-6.9%
5+ 4342
-2.3%

Summary: The Lancaster housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 11.1%, 3 bedroom homes decreased by 5.8%, 4 bedroom homes decreased by 6.9%, and 5+ bedroom homes decreased by 2.3%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
10977-29.4%

Asking Price vs. Sold Price

29 Homes Were Sold
Under Asking

19 Homes Were Sold
At Asking

29 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lancaster, you may be able to get a good deal. 37.7% of homes here sold below asking price last month.

Summary: A total of 77 homes were sold or pending in Lancaster in January 2024, down by 29.4% month-over-month. Of the 77 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% were sold over asking.

Days on Market for Lancaster, CA

How long does it take to sell a home in Lancaster, CA?

Average Sale Time

Jan 2023Jan 2024CHANGE
55 Days36 Days-34.5%

Summary: Homes in Lancaster had an average of 36 days on market in Jan 2024, down by 34.5% compared to last year.

Breakdown of Home Sale Times

41 Homes Were Sold
Under 30 Days

29 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lancaster are selling fast, if you're buying plan to act quickly.

Summary: During January 2024, 77 homes were sold in Lancaster; 53% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 23 Days Ago

Newest Listings in Lancaster, CA

Nearby Markets to Lancaster, CA

What housing markets are near Lancaster, CA?