Is Lancaster County, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lancaster County is a neutral's market

Buyer's
Market

Difference Since April 2023

At the same time last year, Lancaster County was a Seller's Market.

Key Takeaway

Lancaster County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Lancaster County, VA

How much do homes in Lancaster County, VA cost?

Median Sold Price

$530,666

$260/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$66,666(+14.4%)

Key Takeaway

Homes in Lancaster County have sold for 14.4% more than they did a year ago.

Summary: The median home sold price in Lancaster County was $530,666 in April 2024, up 14.4% from last year, and the median price per square foot was $260.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $203.5K$930K
+357.0%
2 $240K$215K
-10.4%
3 $447.5K$477K
+6.6%
4 $735K$950K
+29.3%
5+ $1.3M$2.5M
+85.7%

Summary: Lancaster County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 357%, 2 bedroom homes decreased by 10.4%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 29.3%, and 5+ bedroom homes increased by 85.7%.

Median Sold Price Compared To Nearby Counties

Lancaster County
+14.4%
Northumberland County
+6.2%

Housing Supply in Lancaster County, VA

How many homes are available in Lancaster County, VA?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
124137+10.5%

Summary: The Lancaster County real estate market had 137 homes for sale in April 2024, a 10.5% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 1915
-21.1%
3 6875
+10.3%
4 2935
+20.7%
5+ 812
+50.0%

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 decreased by 21.1%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 20.7%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
3122-29.0%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lancaster County, you may be able to get a good deal. 52.6% of homes here sold below asking price last month.

Summary: A total of 22 homes were sold or pending in Lancaster County in April 2024, down by 29.0% month-over-month. Of the 19 sold homes, 53% were sold under asking, 26% were sold at asking, and 21% were sold over asking.

Days on Market for Lancaster County, VA

How long does it take to sell a home in Lancaster County, VA?

Average Sale Time

Apr 2023Apr 2024CHANGE
17 Days58 Days+239.8%

Summary: Homes in Lancaster County had an average of 58 days on market in Apr 2024, up by 239.8% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lancaster County are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 22 homes were sold in Lancaster County; 55% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

Newest Listings in Lancaster County, VA

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