Is Lancaster Township, 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 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
$310,437
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lancaster Township was $310,437 in April 2024, up 7% 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 | $190K | $189K | -0.5% |
2 Bedrooms | $219K | $238K | +8.7% |
3 Bedrooms | $280K | $290K | +3.6% |
4 Bedrooms | $384.9K | $389.9K | +1.3% |
5+ Bedrooms | $322.4K | $402.5K | +24.8% |
Summary: Lancaster Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.5%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes increased by 24.8%.
Housing Supply in Lancaster Township, PA
How many homes are available in Lancaster Township, PA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
372 | 372 | 0.0% |
Summary: The Lancaster Township real estate market had 372 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 2 | -60.0% |
2 Bedrooms | 46 | 49 | +6.5% |
3 Bedrooms | 164 | 177 | +7.9% |
4 Bedrooms | 126 | 116 | -7.9% |
5+ Bedrooms | 31 | 28 | -9.7% |
Summary: The Lancaster Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 60%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 7.9%, 4 bedroom homes decreased by 7.9%, and 5+ bedroom homes decreased by 9.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
142 | 91 | -35.9% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
38 Homes Were Sold
Over Asking
Summary: A total of 91 homes were sold or pending in Lancaster Township in April 2024, down by 35.9% month-over-month. Of the 91 sold homes, 30% were sold under asking, 29% were sold at asking, and 42% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
15 Days | 18 Days | +21.6% |
Summary: Homes in Lancaster Township had an average of 18 days on market in Apr 2024, up by 21.6% compared to last year.
Breakdown of Home Sale Times
74 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 91 homes were sold in Lancaster Township; 81% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.