Is Lancaster Township, 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 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
$313,815
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lancaster Township was $313,815 in May 2024, up 6.6% 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 | $200K | $185K | -7.5% |
2 Bedrooms | $219K | $240K | +9.6% |
3 Bedrooms | $280K | $293.3K | +4.7% |
4 Bedrooms | $393.8K | $389.9K | -1.0% |
5+ Bedrooms | $328K | $410K | +25.0% |
Summary: Lancaster Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.5%, 2 bedroom homes increased by 9.6%, 3 bedroom homes increased by 4.7%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes increased by 25%.
Housing Supply in Lancaster Township, PA
How many homes are available in Lancaster Township, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
379 | 453 | +19.5% |
Summary: The Lancaster Township real estate market had 453 homes for sale in May 2024, a 19.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 4 | +100.0% |
2 Bedrooms | 50 | 57 | +14.0% |
3 Bedrooms | 183 | 216 | +18.0% |
4 Bedrooms | 115 | 139 | +20.9% |
5+ Bedrooms | 29 | 37 | +27.6% |
Summary: The Lancaster Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 14%, 3 bedroom homes increased by 18%, 4 bedroom homes increased by 20.9%, and 5+ bedroom homes increased by 27.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
91 | 91 | 0.0% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
32 Homes Were Sold
At Asking
42 Homes Were Sold
Over Asking
Summary: A total of 91 homes were sold or pending in Lancaster Township in May 2024, the same as the previous month. Of the 91 sold homes, 19% were sold under asking, 35% were sold at asking, and 46% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
13 Days | 14 Days | +4.1% |
Summary: Homes in Lancaster Township had an average of 14 days on market in May 2024, up by 4.1% compared to last year.
Breakdown of Home Sale Times
81 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 91 homes were sold in Lancaster Township; 89% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.