$4,679 Closing Credit*
$394,000
1,473 SqFt
2 Beds
•2 Full Baths
Kathleen M Aronica, Listing Office: HUNT Real Estate Corporation
Is Lancaster, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$325,750
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$2,250(+0.7%)
Key Takeaway
Homes in Lancaster have sold for 0.7% more than they did a year ago.
Summary: The median home sold price in Lancaster was $325,750 in November 2024, up 0.7% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $55K | N/A |
| 2 Bedrooms | $250K | $275.9K | +10.4% |
| 3 Bedrooms | $311.5K | $338.7K | +8.7% |
| 4 Bedrooms | $432.5K | $382.5K | -11.6% |
| 5+ Bedrooms | $327.5K | $300K | -8.4% |
Summary: Lancaster housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.4%, 3 bedroom homes increased by 8.7%, 4 bedroom homes decreased by 11.6%, and 5+ bedroom homes decreased by 8.4%.
Median Sold Price Compared To Nearby Cities
| Depew | $234.9K | $245K | +4.3% |
| Lancaster | $323.5K | $325.7K | +0.7% |
Housing Supply in Lancaster, NY
How many homes are available in Lancaster, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 116 | 78 | -32.8% |
Summary: The Lancaster real estate market had 78 homes for sale in November 2024, a 32.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 19 | 12 | -36.8% |
| 3 Bedrooms | 56 | 36 | -35.7% |
| 4 Bedrooms | 32 | 25 | -21.9% |
| 5+ Bedrooms | 9 | 5 | -44.4% |
Summary: The Lancaster housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 36.8%, 3 bedroom homes decreased by 35.7%, 4 bedroom homes decreased by 21.9%, and 5+ bedroom homes decreased by 44.4%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 35 | 22 | -37.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lancaster, you could pay more than the asking price. 59.1% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in Lancaster in November 2024, down by 37.1% month-over-month. Of the 22 sold homes, 36% were sold under asking, 5% were sold at asking, and 59% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 15 Days | 29 Days | +94.0% |
Summary: Homes in Lancaster had an average of 29 days on market in Nov 2024, up by 94% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 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 November 2024, 22 homes were sold in Lancaster; 73% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
