Is Lancaster, KY 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.
Housing Prices in Lancaster, KY
How much do homes in Lancaster, KY cost?
Median Sold Price
$240,000
$116/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lancaster was $240,000 in April 2024, up 4.3% from last year, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $115K | - | N/A |
2 Bedrooms | $128K | $123.6K | -3.4% |
3 Bedrooms | $218K | $215K | -1.4% |
4 Bedrooms | $371K | $355K | -4.3% |
5+ Bedrooms | $385K | $557.5K | +44.8% |
Summary: Lancaster housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.4%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes increased by 44.8%.
Housing Supply in Lancaster, KY
How many homes are available in Lancaster, KY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
56 | 59 | +5.4% |
Summary: The Lancaster real estate market had 59 homes for sale in April 2024, a 5.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 9 | 6 | -33.3% |
3 Bedrooms | 29 | 32 | +10.3% |
4 Bedrooms | 12 | 15 | +25.0% |
5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Lancaster housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
9 | 13 | +44.4% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Lancaster in April 2024, up by 44.4% month-over-month. Of the 13 sold homes, 54% were sold under asking, 23% were sold at asking, and 23% were sold over asking.
Days on Market for Lancaster, KY
How long does it take to sell a home in Lancaster, KY?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
67 Days | 30 Days | -54.7% |
Summary: Homes in Lancaster had an average of 30 days on market in Apr 2024, down by 54.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 13 homes were sold in Lancaster; 54% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.