Is Lancaster County, PA 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 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
$325,396
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lancaster County have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in Lancaster County was $325,396 in April 2024, up 8.5% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $175K | -2.8% |
| 2 Bedrooms | $230K | $249K | +8.3% |
| 3 Bedrooms | $280.3K | $303K | +8.1% |
| 4 Bedrooms | $381.4K | $407.6K | +6.9% |
| 5+ Bedrooms | $410K | $437.2K | +6.7% |
Summary: Lancaster County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.8%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 6.7%.
Median Sold Price Compared To Nearby Counties
| Berks County | $240.1K | $265K | +10.4% |
| Lancaster County | $299.9K | $325.3K | +8.5% |
| Lebanon County | $245.6K | $264.9K | +7.9% |
| Chester County | $469.9K | $503K | +7.0% |
| York County | $248.7K | $264.9K | +6.5% |
Housing Supply in Lancaster County, PA
How many homes are available in Lancaster County, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 978 | 984 | +0.6% |
Summary: The Lancaster County real estate market had 984 homes for sale in April 2024, a 0.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 9 | 0.0% |
| 2 Bedrooms | 102 | 106 | +3.9% |
| 3 Bedrooms | 483 | 489 | +1.2% |
| 4 Bedrooms | 319 | 317 | -0.6% |
| 5+ Bedrooms | 65 | 63 | -3.1% |
Summary: The Lancaster County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 3.9%, 3 bedroom homes increased by 1.2%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes decreased by 3.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 338 | 246 | -27.2% |
Asking Price vs. Sold Price
55 Homes Were Sold
Under Asking
75 Homes Were Sold
At Asking
116 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lancaster County, you could pay more than the asking price. 47.2% of homes here sold above asking price last month.
Summary: A total of 246 homes were sold or pending in Lancaster County in April 2024, down by 27.2% month-over-month. Of the 246 sold homes, 22% were sold under asking, 30% were sold at asking, and 47% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 20 Days | 19 Days | -6.7% |
Summary: Homes in Lancaster County had an average of 19 days on market in Apr 2024, down by 6.7% compared to last year.
Breakdown of Home Sale Times
202 Homes Were Sold
Under 30 Days
35 Homes Were Sold
In 30 - 90 Days
8 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 April 2024, 246 homes were sold in Lancaster County; 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.
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