Is Lancaster, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$459,972
$265/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lancaster have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in Lancaster was $459,972 in April 2024, up 3.4% from last year, and the median price per square foot was $265.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $177.5K | $240K | +35.2% |
| 2 Bedrooms | $300K | $313.5K | +4.5% |
| 3 Bedrooms | $410K | $425K | +3.7% |
| 4 Bedrooms | $465K | $489.9K | +5.4% |
| 5+ Bedrooms | $570.5K | $580K | +1.7% |
Summary: Lancaster housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35.2%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 1.7%.
Median Sold Price Compared To Nearby Cities
| Lake Hughes | $392.5K | $410K | +4.5% |
| Lancaster | $445K | $459.9K | +3.4% |
| North Antelope Valley | $439.1K | $450K | +2.5% |
| South Antelope Valley | $526.3K | $530.6K | +0.8% |
| Palmdale | $500K | $500K | 0.0% |
Housing Supply in Lancaster, CA
How many homes are available in Lancaster, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 464 | 468 | +0.9% |
Summary: The Lancaster real estate market had 468 homes for sale in April 2024, a 0.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 29 | 31 | +6.9% |
| 3 Bedrooms | 173 | 166 | -4.0% |
| 4 Bedrooms | 198 | 198 | 0.0% |
| 5+ Bedrooms | 61 | 69 | +13.1% |
Summary: The Lancaster housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 6.9%, 3 bedroom homes decreased by 4%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 13.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 117 | 126 | +7.7% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
46 Homes Were Sold
At Asking
51 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lancaster, you could pay more than the asking price. 40.5% of homes here sold above asking price last month.
Summary: A total of 126 homes were sold or pending in Lancaster in April 2024, up by 7.7% month-over-month. Of the 126 sold homes, 23% were sold under asking, 37% were sold at asking, and 40% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 45 Days | 29 Days | -35.8% |
Summary: Homes in Lancaster had an average of 29 days on market in Apr 2024, down by 35.8% compared to last year.
Breakdown of Home Sale Times
89 Homes Were Sold
Under 30 Days
28 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lancaster are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 126 homes were sold in Lancaster; 71% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.