Is Lancaster, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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, MA
How much do homes in Lancaster, MA cost?
Median Sold Price
$497,450
$276/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lancaster have sold for 5.8% more than they did a year ago.
Summary: The median home sold price in Lancaster was $497,450 in March 2024, up 5.8% from last year, and the median price per square foot was $276.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $312.2K | $206K | -34.0% |
| 2 Bedrooms | $430K | $415K | -3.5% |
| 3 Bedrooms | $412K | $495K | +20.1% |
| 4 Bedrooms | $592.4K | $620K | +4.7% |
| 5+ Bedrooms | $639.9K | $525K | -18.0% |
Summary: Lancaster housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34%, 2 bedroom homes decreased by 3.5%, 3 bedroom homes increased by 20.1%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes decreased by 18%.
Median Sold Price Compared To Nearby Cities
| Bolton | $765K | $870K | +13.7% |
| Lancaster | $470K | $497.4K | +5.8% |
| Harvard | $897.5K | $916.8K | +2.2% |
| Clinton | $395K | $400K | +1.3% |
Housing Supply in Lancaster, MA
How many homes are available in Lancaster, MA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 17 | +54.5% |
Summary: The Lancaster real estate market had 17 homes for sale in March 2024, a 54.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 5 | +150.0% |
| 3 Bedrooms | 6 | 8 | +33.3% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Lancaster housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 150%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lancaster, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Lancaster in March 2024, up by 150.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for Lancaster, MA
How long does it take to sell a home in Lancaster, MA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 22 Days | 39 Days | +80.0% |
Summary: Homes in Lancaster had an average of 39 days on market in Mar 2024, up by 80% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lancaster are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in Lancaster; 80% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
