Is Lancaster, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$231,557
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lancaster was $231,557 in April 2024, up 18.7% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $62.7K | $80K | +27.5% |
2 Bedrooms | $150K | $170K | +13.3% |
3 Bedrooms | $200K | $225K | +12.5% |
4 Bedrooms | $272.2K | $318K | +16.8% |
5+ Bedrooms | $389.9K | $382.5K | -1.9% |
Summary: Lancaster housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.5%, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 16.8%, and 5+ bedroom homes decreased by 1.9%.
Median Sold Price Compared To Nearby Cities
Lancaster | $195K | $231.5K | +18.7% |
Lancaster City Township | $185.5K | $211.8K | +14.2% |
Pleasant Township | $287.5K | $317.5K | +10.4% |
Hocking Township | $310K | $322.4K | +4.0% |
Greenfield Township | $320.7K | $282K | -12.1% |
Housing Supply in Lancaster, OH
How many homes are available in Lancaster, OH?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
238 | 281 | +18.1% |
Summary: The Lancaster real estate market had 281 homes for sale in April 2024, a 18.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 7 | +75.0% |
2 Bedrooms | 37 | 36 | -2.7% |
3 Bedrooms | 124 | 152 | +22.6% |
4 Bedrooms | 55 | 65 | +18.2% |
5+ Bedrooms | 18 | 21 | +16.7% |
Summary: The Lancaster housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 75%, 2 bedroom homes decreased by 2.7%, 3 bedroom homes increased by 22.6%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
56 | 68 | +21.4% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
31 Homes Were Sold
Over Asking
Summary: A total of 68 homes were sold or pending in Lancaster in April 2024, up by 21.4% month-over-month. Of the 68 sold homes, 35% were sold under asking, 19% were sold at asking, and 46% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
16 Days | 23 Days | +43.0% |
Summary: Homes in Lancaster had an average of 23 days on market in Apr 2024, up by 43% compared to last year.
Breakdown of Home Sale Times
52 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During April 2024, 68 homes were sold in Lancaster; 76% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.