$4,928 Closing Credit*
$415,000
2,604 SqFt
4 Beds
•2 Full Baths, 1 Partial
Robyn Sansone, Listing Office: WNYbyOwner.com
Is Lancaster, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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, NY
How much do homes in Lancaster, NY cost?
Median Sold Price
$319,000
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$11,000(-3.3%)
Key Takeaway
Homes in Lancaster have sold for 3.3% less than they did a year ago.
Summary: The median home sold price in Lancaster was $319,000 in October 2024, down 3.3% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $55K | N/A |
| 2 Bedrooms | $254.3K | $274.9K | +8.1% |
| 3 Bedrooms | $300K | $344K | +14.7% |
| 4 Bedrooms | $432.5K | $363.7K | -15.9% |
| 5+ Bedrooms | $337.5K | $290K | -14.1% |
Summary: Lancaster housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 14.7%, 4 bedroom homes decreased by 15.9%, and 5+ bedroom homes decreased by 14.1%.
Median Sold Price Compared To Nearby Cities
| Depew | $232K | $245K | +5.6% |
| Lancaster | $330K | $319K | -3.3% |
Housing Supply in Lancaster, NY
How many homes are available in Lancaster, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 131 | 100 | -23.7% |
Summary: The Lancaster real estate market had 100 homes for sale in October 2024, a 23.7% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 22 | 19 | -13.6% |
| 3 Bedrooms | 64 | 50 | -21.9% |
| 4 Bedrooms | 30 | 23 | -23.3% |
| 5+ Bedrooms | 15 | 8 | -46.7% |
Summary: The Lancaster housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 13.6%, 3 bedroom homes decreased by 21.9%, 4 bedroom homes decreased by 23.3%, and 5+ bedroom homes decreased by 46.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 39 | 32 | -17.9% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
27 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lancaster, you could pay more than the asking price. 84.4% of homes here sold above asking price last month.
Summary: A total of 32 homes were sold or pending in Lancaster in October 2024, down by 17.9% month-over-month. Of the 32 sold homes, 13% were sold under asking, 3% were sold at asking, and 84% were sold over asking.
Days on Market for Lancaster, NY
How long does it take to sell a home in Lancaster, NY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 16 Days | -9.4% |
Summary: Homes in Lancaster had an average of 16 days on market in Oct 2024, down by 9.4% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lancaster are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 32 homes were sold in Lancaster; 84% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.