Is Lancaster, SC 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, SC
How much do homes in Lancaster, SC cost?
Median Sold Price
$305,037
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lancaster was $305,037 in March 2024, up 10.9% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $71K | N/A |
2 Bedrooms | $180K | $175K | -2.8% |
3 Bedrooms | $249.2K | $270K | +8.3% |
4 Bedrooms | $373.2K | $402.5K | +7.8% |
5+ Bedrooms | $534K | $540K | +1.1% |
Summary: Lancaster 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 decreased by 2.8%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 1.1%.
Housing Supply in Lancaster, SC
How many homes are available in Lancaster, SC?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
267 | 274 | +2.6% |
Summary: The Lancaster real estate market had 274 homes for sale in March 2024, a 2.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 28 | 29 | +3.6% |
3 Bedrooms | 151 | 173 | +14.6% |
4 Bedrooms | 62 | 51 | -17.7% |
5+ Bedrooms | 24 | 20 | -16.7% |
Summary: The Lancaster housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 14.6%, 4 bedroom homes decreased by 17.7%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
53 | 68 | +28.3% |
Asking Price vs. Sold Price
35 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 68 homes were sold or pending in Lancaster in March 2024, up by 28.3% month-over-month. Of the 68 sold homes, 51% were sold under asking, 29% were sold at asking, and 19% were sold over asking.
Days on Market for Lancaster, SC
How long does it take to sell a home in Lancaster, SC?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
68 Days | 54 Days | -20.0% |
Summary: Homes in Lancaster had an average of 54 days on market in Mar 2024, down by 20% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
18 Homes Were Sold
Over 90 Days
Summary: During March 2024, 68 homes were sold in Lancaster; 47% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 26% of homes were sold over 90 days.