$199,900
3.44 Acres
Land
Joshua W Wood, Listing Office: Coldwell Banker Realty
Is Lancaster Township, PA 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 Township has remained a Seller's Market.
Key Takeaway
Lancaster Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lancaster Township, PA
How much do homes in Lancaster Township, PA cost?
Median Sold Price
$320,220
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$20,230(+6.7%)
Key Takeaway
Homes in Lancaster Township have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in Lancaster Township was $320,220 in October 2024, up 6.7% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $199.9K | $194K | -3.0% |
| 2 Bedrooms | $235K | $240K | +2.1% |
| 3 Bedrooms | $285.2K | $300K | +5.2% |
| 4 Bedrooms | $385K | $410K | +6.5% |
| 5+ Bedrooms | $380K | $402K | +5.8% |
Summary: Lancaster Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3%, 2 bedroom homes increased by 2.1%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 5.8%.
Median Sold Price Compared To Nearby Cities
| Connoquenessing Township | $345K | $380K | +10.1% |
| Lancaster Township | $299.9K | $320.2K | +6.7% |
Housing Supply in Lancaster Township, PA
How many homes are available in Lancaster Township, PA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 434 | 452 | +4.1% |
Summary: The Lancaster Township real estate market had 452 homes for sale in October 2024, a 4.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 51 | 55 | +7.8% |
| 3 Bedrooms | 196 | 199 | +1.5% |
| 4 Bedrooms | 149 | 151 | +1.3% |
| 5+ Bedrooms | 34 | 44 | +29.4% |
Summary: The Lancaster Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes increased by 29.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 131 | 134 | +2.3% |
Asking Price vs. Sold Price
44 Homes Were Sold
Under Asking
39 Homes Were Sold
At Asking
51 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lancaster Township, you could pay more than the asking price. 38.1% of homes here sold above asking price last month.
Summary: A total of 134 homes were sold or pending in Lancaster Township in October 2024, up by 2.3% month-over-month. Of the 134 sold homes, 33% were sold under asking, 29% were sold at asking, and 38% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 12 Days | 17 Days | +40.6% |
Summary: Homes in Lancaster Township had an average of 17 days on market in Oct 2024, up by 40.6% compared to last year.
Breakdown of Home Sale Times
115 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lancaster Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 134 homes were sold in Lancaster Township; 86% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
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