Is Lancaster County, PA 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 County has remained a Seller's Market.
Key Takeaway
Lancaster County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lancaster County, PA
How much do homes in Lancaster County, PA cost?
Median Sold Price
$324,978
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lancaster County have sold for 9.9% more than they did a year ago.
Summary: The median home sold price in Lancaster County was $324,978 in March 2024, up 9.9% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $175K | -2.8% |
| 2 Bedrooms | $229.2K | $249.9K | +9.0% |
| 3 Bedrooms | $279.9K | $300.3K | +7.3% |
| 4 Bedrooms | $375K | $405.2K | +8.1% |
| 5+ Bedrooms | $434.9K | $439.4K | +1.0% |
Summary: Lancaster County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.8%, 2 bedroom homes increased by 9%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes increased by 1%.
Median Sold Price Compared To Nearby Counties
| Berks County | $239.9K | $265K | +10.4% |
| Lancaster County | $295.7K | $324.9K | +9.9% |
| Chester County | $466.5K | $500.2K | +7.2% |
| York County | $244.2K | $261.2K | +7.0% |
| Lebanon County | $245K | $260.1K | +6.2% |
Housing Supply in Lancaster County, PA
How many homes are available in Lancaster County, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,553 | 1,538 | -1.0% |
Summary: The Lancaster County real estate market had 1,538 homes for sale in March 2024, a 1.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 10 | +25.0% |
| 2 Bedrooms | 178 | 175 | -1.7% |
| 3 Bedrooms | 681 | 681 | 0.0% |
| 4 Bedrooms | 535 | 525 | -1.9% |
| 5+ Bedrooms | 151 | 147 | -2.6% |
Summary: The Lancaster County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 1.7%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes decreased by 2.6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 251 | 288 | +14.7% |
Asking Price vs. Sold Price
75 Homes Were Sold
Under Asking
89 Homes Were Sold
At Asking
124 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lancaster County, you could pay more than the asking price. 43.1% of homes here sold above asking price last month.
Summary: A total of 288 homes were sold or pending in Lancaster County in March 2024, up by 14.7% month-over-month. Of the 288 sold homes, 26% were sold under asking, 31% were sold at asking, and 43% were sold over asking.
Days on Market for Lancaster County, PA
How long does it take to sell a home in Lancaster County, PA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 19 Days | 18 Days | -7.7% |
Summary: Homes in Lancaster County had an average of 18 days on market in Mar 2024, down by 7.7% compared to last year.
Breakdown of Home Sale Times
244 Homes Were Sold
Under 30 Days
33 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lancaster County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 288 homes were sold in Lancaster County; 85% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
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