$8,905 Closing Credit*
$749,900
2,514 SqFt
5 Beds
•4 Full Baths
Monica Miller, Listing Office: Realty ONE Group Unlimited
Is Lancaster, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 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, PA
How much do homes in Lancaster, PA cost?
Median Sold Price
$319,968
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$20,182(+6.7%)
Key Takeaway
Homes in Lancaster have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in Lancaster was $319,968 in December 2024, up 6.7% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $190K | $194K | +2.1% |
| 2 Bedrooms | $235K | $245K | +4.3% |
| 3 Bedrooms | $285K | $300K | +5.3% |
| 4 Bedrooms | $384.5K | $400K | +4.0% |
| 5+ Bedrooms | $380K | $410K | +7.9% |
Summary: Lancaster housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.1%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 7.9%.
Median Sold Price Compared To Nearby Cities
| Lancaster | $299.7K | $319.9K | +6.7% |
| Lancaster Township | $299.8K | $319.8K | +6.6% |
| West Lampeter Township | $349.9K | $368K | +5.2% |
| Manheim Township | $375K | $390K | +4.0% |
| East Lampeter Township | $360K | $357.5K | -0.7% |
Housing Supply in Lancaster, PA
How many homes are available in Lancaster, PA?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 448 | 388 | -13.4% |
Summary: The Lancaster real estate market had 388 homes for sale in December 2024, a 13.4% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 56 | 47 | -16.1% |
| 3 Bedrooms | 209 | 184 | -12.0% |
| 4 Bedrooms | 142 | 121 | -14.8% |
| 5+ Bedrooms | 39 | 35 | -10.3% |
Summary: The Lancaster housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 16.1%, 3 bedroom homes decreased by 12%, 4 bedroom homes decreased by 14.8%, and 5+ bedroom homes decreased by 10.3%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 130 | 139 | +6.9% |
Asking Price vs. Sold Price
37 Homes Were Sold
Under Asking
38 Homes Were Sold
At Asking
64 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lancaster, you could pay more than the asking price. 46% of homes here sold above asking price last month.
Summary: A total of 139 homes were sold or pending in Lancaster in December 2024, up by 6.9% month-over-month. Of the 139 sold homes, 27% were sold under asking, 27% were sold at asking, and 46% were sold over asking.
Days on Market for Lancaster, PA
How long does it take to sell a home in Lancaster, PA?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 22 Days | 17 Days | -21.9% |
Summary: Homes in Lancaster had an average of 17 days on market in Dec 2024, down by 21.9% compared to last year.
Breakdown of Home Sale Times
110 Homes Were Sold
Under 30 Days
26 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 December 2024, 139 homes were sold in Lancaster; 79% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
