Is Lancaster, OH 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.
Housing Prices in Lancaster, OH
How much do homes in Lancaster, OH cost?
Median Sold Price
$230,000
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lancaster was $230,000 in March 2024, up 17.9% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $60.5K | $87K | +43.8% |
2 Bedrooms | $149.9K | $170K | +13.4% |
3 Bedrooms | $200K | $225K | +12.5% |
4 Bedrooms | $274.5K | $311K | +13.3% |
5+ Bedrooms | $370K | $390K | +5.4% |
Summary: Lancaster housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 43.8%, 2 bedroom homes increased by 13.4%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 5.4%.
Median Sold Price Compared To Nearby Cities
Lancaster | $195K | $230K | +17.9% |
Pleasant Township | $281.2K | $320K | +13.8% |
Lancaster City Township | $188.6K | $204.9K | +8.7% |
Hocking Township | $305K | $325K | +6.6% |
Greenfield Township | $320.7K | $290K | -9.6% |
Housing Supply in Lancaster, OH
How many homes are available in Lancaster, OH?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
224 | 226 | +0.9% |
Summary: The Lancaster real estate market had 226 homes for sale in March 2024, a 0.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 4 | -20.0% |
2 Bedrooms | 41 | 37 | -9.8% |
3 Bedrooms | 118 | 120 | +1.7% |
4 Bedrooms | 50 | 52 | +4.0% |
5+ Bedrooms | 10 | 13 | +30.0% |
Summary: The Lancaster housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 9.8%, 3 bedroom homes increased by 1.7%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 30%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
48 | 52 | +8.3% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Summary: A total of 52 homes were sold or pending in Lancaster in March 2024, up by 8.3% month-over-month. Of the 52 sold homes, 44% were sold under asking, 13% were sold at asking, and 42% were sold over asking.
Days on Market for Lancaster, OH
How long does it take to sell a home in Lancaster, OH?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
25 Days | 21 Days | -14.4% |
Summary: Homes in Lancaster had an average of 21 days on market in Mar 2024, down by 14.4% compared to last year.
Breakdown of Home Sale Times
37 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 52 homes were sold in Lancaster; 71% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.