Is Lancaster County, PA 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 County has remained a Seller's Market.
Housing Prices in Lancaster County, PA
How much do homes in Lancaster County, PA cost?
Median Sold Price
$329,090
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lancaster County was $329,090 in May 2024, up 9.7% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $190K | $172.5K | -9.2% |
2 Bedrooms | $230.3K | $249.9K | +8.5% |
3 Bedrooms | $281.1K | $305.5K | +8.7% |
4 Bedrooms | $384.6K | $408.6K | +6.2% |
5+ Bedrooms | $445K | $431.1K | -3.1% |
Summary: Lancaster County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.2%, 2 bedroom homes increased by 8.5%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes decreased by 3.1%.
Median Sold Price Compared To Nearby Counties
Lancaster County | $299.9K | $329K | +9.7% |
Berks County | $244.2K | $265.4K | +8.7% |
Lebanon County | $248.3K | $266.7K | +7.4% |
Chester County | $476.5K | $509.2K | +6.9% |
York County | $250K | $264.6K | +5.9% |
Housing Supply in Lancaster County, PA
How many homes are available in Lancaster County, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1,040 | 1,157 | +11.3% |
Summary: The Lancaster County real estate market had 1,157 homes for sale in May 2024, a 11.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 8 | -11.1% |
2 Bedrooms | 116 | 119 | +2.6% |
3 Bedrooms | 517 | 556 | +7.5% |
4 Bedrooms | 332 | 392 | +18.1% |
5+ Bedrooms | 66 | 82 | +24.2% |
Summary: The Lancaster County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.1%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 18.1%, and 5+ bedroom homes increased by 24.2%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
247 | 236 | -4.5% |
Asking Price vs. Sold Price
46 Homes Were Sold
Under Asking
79 Homes Were Sold
At Asking
111 Homes Were Sold
Over Asking
Summary: A total of 236 homes were sold or pending in Lancaster County in May 2024, down by 4.5% month-over-month. Of the 236 sold homes, 19% were sold under asking, 33% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
13 Days | 24 Days | +78.2% |
Summary: Homes in Lancaster County had an average of 24 days on market in May 2024, up by 78.2% compared to last year.
Breakdown of Home Sale Times
195 Homes Were Sold
Under 30 Days
26 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Summary: During May 2024, 236 homes were sold in Lancaster County; 83% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.