Is Lancaster Township, 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 Township has remained a Seller's Market.
Housing Prices in Lancaster Township, PA
How much do homes in Lancaster Township, PA cost?
Median Sold Price
$304,290
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lancaster Township was $304,290 in March 2024, up 11% 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 | - | $185K | N/A |
2 Bedrooms | $223K | $238.6K | +7.0% |
3 Bedrooms | $269.9K | $289.7K | +7.3% |
4 Bedrooms | $359.9K | $385.4K | +7.1% |
5+ Bedrooms | $319.9K | $385K | +20.3% |
Summary: Lancaster Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 20.3%.
Median Sold Price Compared To Nearby Cities
Lancaster | $241.5K | $304.3K | +26.0% |
Millersville | $275K | $322.5K | +17.3% |
Lancaster Township | $274.2K | $304.2K | +11.0% |
Manheim Township | $361K | $375.2K | +3.9% |
West Lampeter Township | $342.7K | $353.6K | +3.2% |
Housing Supply in Lancaster Township, PA
How many homes are available in Lancaster Township, PA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
529 | 525 | -0.8% |
Summary: The Lancaster Township real estate market had 525 homes for sale in March 2024, a 0.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 5 | +66.7% |
2 Bedrooms | 77 | 71 | -7.8% |
3 Bedrooms | 218 | 224 | +2.8% |
4 Bedrooms | 182 | 177 | -2.7% |
5+ Bedrooms | 49 | 48 | -2.0% |
Summary: The Lancaster Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes decreased by 7.8%, 3 bedroom homes increased by 2.8%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes decreased by 2%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
98 | 119 | +21.4% |
Asking Price vs. Sold Price
33 Homes Were Sold
Under Asking
37 Homes Were Sold
At Asking
49 Homes Were Sold
Over Asking
Summary: A total of 119 homes were sold or pending in Lancaster Township in March 2024, up by 21.4% month-over-month. Of the 119 sold homes, 28% were sold under asking, 31% were sold at asking, and 41% were sold over asking.
Days on Market for Lancaster Township, PA
How long does it take to sell a home in Lancaster Township, PA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
19 Days | 16 Days | -12.8% |
Summary: Homes in Lancaster Township had an average of 16 days on market in Mar 2024, down by 12.8% compared to last year.
Breakdown of Home Sale Times
98 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 119 homes were sold in Lancaster Township; 82% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.