Is Lancaster County, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Lancaster County was a Seller's Market.
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
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
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $203.5K | $930K | +357.0% |
2 Bedrooms | $240K | $215K | -10.4% |
3 Bedrooms | $447.5K | $477K | +6.6% |
4 Bedrooms | $735K | $950K | +29.3% |
5+ Bedrooms | $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 | $464K | $530.6K | +14.4% |
Northumberland County | $425K | $451.2K | +6.2% |
Housing Supply in Lancaster County, VA
How many homes are available in Lancaster County, VA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
124 | 137 | +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
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 19 | 15 | -21.1% |
3 Bedrooms | 68 | 75 | +10.3% |
4 Bedrooms | 29 | 35 | +20.7% |
5+ Bedrooms | 8 | 12 | +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 2024 | Apr 2024 | CHANGE |
---|---|---|
31 | 22 | -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
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 2023 | Apr 2024 | CHANGE |
---|---|---|
17 Days | 58 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
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.