The Long & Foster Market Minute

Focus On: Lancaster County Housing Market February 2019

Units Sold
7
Active Inventory
201
Median Sale Price
$100,000
Days On Market
375
Down
Vs. Year Ago
Down -3%
Vs. Year Ago
Down
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in February, with 7 sold this month in Lancaster County Real Estate. This month's total units sold was lower than at this time last year, a decrease from February 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 6 units or 3%. The total number of active inventory this February was 201 compared to 207 in February 2018. This month's total of 201 is higher than the previous month's total supply of available inventory of 196, an increase of 3%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last February, the median sale price for Lancaster County Homes was $164,500. This February, the median sale price was $100,000, a decrease of $64,500 compared to last year. The current median sold price is lower than in January.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
26
Current Contracts
10
Sold Vs. List Price
89.9%
Months of Supply
28.7
Up 13%
Vs. Year Ago
Down -9%
Vs. Year Ago
Up
Vs. Year Ago
Up
Vs. Year Ago

Months of Supply
In February, there was 28.7 months of supply available in Lancaster County, compared to 17.3 in February 2018. That is an increase versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 26 homes newly listed for sale in Lancaster County compared to 23 in February 2018, an increase of 13%. There were 10 current contracts pending sale this February compared to 11 a year ago. The number of current contracts is 9% lower than last February.

Sale Price to List Price Ratio
In February, the average sale price in Lancaster County was 89.9% of the average list price, which is higher than at this time last year.

Days on Market
This month, the average number of days on market was 375, higher than the average last year, which was 200. This increase was impacted by the limited number of sales.

The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by NNAR and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of NNAR or Long & Foster Real Estate, Inc.