Is Lancaster City Township, OH a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lancaster City Township is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Lancaster City Township has remained a Seller's Market.

Key Takeaway

Lancaster City Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lancaster City Township, OH

How much do homes in Lancaster City Township, OH cost?

Median Sold Price

$222,829

$159/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$22,829(+11.4%)

Key Takeaway

Homes in Lancaster City Township have sold for 11.4% more than they did a year ago.

Summary: The median home sold price in Lancaster City Township was $222,829 in September 2024, up 11.4% from last year, and the median price per square foot was $159.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $115K$80K
-30.4%
2 $160K$172K
+7.5%
3 $200K$225K
+12.5%
4 $274.7K$310K
+12.8%
5+ $291.5K$375K
+28.6%

Summary: Lancaster City Township housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 30.4%, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes increased by 28.6%.

Median Sold Price Compared To Nearby Cities

Pleasant Township
+11.5%
Lancaster City Township
+11.4%
Lancaster
+9.5%
Greenfield Township
-3.1%

Housing Supply in Lancaster City Township, OH

How many homes are available in Lancaster City Township, OH?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
3423-32.4%

Summary: The Lancaster City Township real estate market had 23 homes for sale in September 2024, a 32.4% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 11
0.0%
2 43
-25.0%
3 126
-50.0%
4 1512
-20.0%
5+ 21
-50.0%

Summary: The Lancaster City Township housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 50%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
117-36.4%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lancaster City Township, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Lancaster City Township in September 2024, down by 36.4% month-over-month. Of the 7 sold homes, 86% were sold under asking, 0% were sold at asking, and 14% were sold over asking.

Days on Market for Lancaster City Township, OH

How long does it take to sell a home in Lancaster City Township, OH?

Average Sale Time

Sep 2023Sep 2024CHANGE
11 Days87 Days+643.4%

Summary: Homes in Lancaster City Township had an average of 87 days on market in Sep 2024, up by 643.4% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Lancaster City Township has remained consistent over time.

Summary: During September 2024, 7 homes were sold in Lancaster City Township; 0% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 43% 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 30 Days Ago

Newest Listings in Lancaster City Township, OH

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