Is Lancaster, SC 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 has remained a Seller's Market.
Housing Prices in Lancaster, SC
How much do homes in Lancaster, SC cost?
Median Sold Price
$307,333
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lancaster was $307,333 in May 2024, up 10.9% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $85K | N/A |
2 Bedrooms | $179.9K | $177.7K | -1.2% |
3 Bedrooms | $255K | $281.3K | +10.3% |
4 Bedrooms | $375.5K | $405K | +7.9% |
5+ Bedrooms | $537.5K | $540K | 0.5% |
Summary: Lancaster housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.2%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 0.5%.
Housing Supply in Lancaster, SC
How many homes are available in Lancaster, SC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
287 | 305 | +6.3% |
Summary: The Lancaster real estate market had 305 homes for sale in May 2024, a 6.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 31 | 34 | +9.7% |
3 Bedrooms | 177 | 177 | 0.0% |
4 Bedrooms | 52 | 66 | +26.9% |
5+ Bedrooms | 25 | 25 | 0.0% |
Summary: The Lancaster housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 9.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 26.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
60 | 74 | +23.3% |
Asking Price vs. Sold Price
32 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Summary: A total of 74 homes were sold or pending in Lancaster in May 2024, up by 23.3% month-over-month. Of the 73 sold homes, 44% were sold under asking, 32% were sold at asking, and 25% were sold over asking.
Days on Market for Lancaster, SC
How long does it take to sell a home in Lancaster, SC?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
33 Days | 44 Days | +34.4% |
Summary: Homes in Lancaster had an average of 44 days on market in May 2024, up by 34.4% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Summary: During May 2024, 74 homes were sold in Lancaster; 57% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.