Is Lancaster, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lancaster has remained a Seller's Market.
Key Takeaway
Lancaster is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lancaster, CA
How much do homes in Lancaster, CA cost?
Median Sold Price
$460,000
$267/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lancaster have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Lancaster was $460,000 in May 2024, up 4.5% from last year, and the median price per square foot was $267.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $182.5K | $220K | +20.5% |
| 2 Bedrooms | $300K | $325K | +8.3% |
| 3 Bedrooms | $405K | $425.6K | +5.1% |
| 4 Bedrooms | $465K | $494.9K | +6.5% |
| 5+ Bedrooms | $570K | $586K | +2.8% |
Summary: Lancaster housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.5%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 2.8%.
Median Sold Price Compared To Nearby Cities
| North Antelope Valley | $434.9K | $455K | +4.6% |
| Lancaster | $440K | $460K | +4.5% |
| Lake Hughes | $395K | $410K | +3.8% |
| South Antelope Valley | $525K | $532K | +1.3% |
| Palmdale | $500K | $500K | 0.0% |
Housing Supply in Lancaster, CA
How many homes are available in Lancaster, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 480 | 467 | -2.7% |
Summary: The Lancaster real estate market had 467 homes for sale in May 2024, a 2.7% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 31 | 27 | -12.9% |
| 3 Bedrooms | 175 | 178 | +1.7% |
| 4 Bedrooms | 205 | 180 | -12.2% |
| 5+ Bedrooms | 65 | 78 | +20.0% |
Summary: The Lancaster housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 12.9%, 3 bedroom homes increased by 1.7%, 4 bedroom homes decreased by 12.2%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 128 | 117 | -8.6% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
33 Homes Were Sold
At Asking
55 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lancaster, you could pay more than the asking price. 47% of homes here sold above asking price last month.
Summary: A total of 117 homes were sold or pending in Lancaster in May 2024, down by 8.6% month-over-month. Of the 117 sold homes, 25% were sold under asking, 28% were sold at asking, and 47% were sold over asking.
Days on Market for Lancaster, CA
How long does it take to sell a home in Lancaster, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 39 Days | 35 Days | -11.4% |
Summary: Homes in Lancaster had an average of 35 days on market in May 2024, down by 11.4% compared to last year.
Breakdown of Home Sale Times
83 Homes Were Sold
Under 30 Days
26 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lancaster are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 117 homes were sold in Lancaster; 71% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.