The Long & Foster Market Minute

Focus On: Lancaster County Housing Market December 2017

Units Sold
18
Active Inventory
200
Median Sale Price
$359,875
Days On Market
332
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up
Vs. Year Ago
Down -15%
Vs. Year Ago
Up
Vs. Year Ago
Up 4%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in December, with 18 sold this month in Lancaster County Real Estate. This month's total units sold was higher than at this time last year, an increase from December 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 34 units or 15%. The total number of active inventory this December was 200 compared to 234 in December 2016. This month's total of 200 is lower than the previous month's total supply of available inventory of 223, a decrease of 10%.

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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last December, the median sale price for Lancaster County Homes was $274,500. This December, the median sale price was $359,875, an increase of $85,375 compared to last year. The current median sold price is higher than in November.

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

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New Listings
12
Current Contracts
12
Sold Vs. List Price
89.3%
Months of Supply
11.1
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 9%
Vs. Year Ago
Up 50%
Vs. Year Ago
Down
Vs. Year Ago
Down -43%
Vs. Year Ago

Months of Supply
In December, there was 11.1 months of supply available in Lancaster County, compared to 19.5 in December 2016. That is a decrease of 43% 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.

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New Listings & Current Contracts
This month there were 12 homes newly listed for sale in Lancaster County compared to 11 in December 2016, an increase of 9%. There were 12 current contracts pending sale this December compared to 8 a year ago. The number of current contracts is 50% higher than last December.

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Click here to compare the current contracts of this area against other locations.
Sale Price to List Price Ratio
In December, the average sale price in Lancaster County was 89.3% of the average list price, which is lower than at this time last year.

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Days on Market
This month, the average number of days on market was 332, higher than the average last year, which was 318, an increase of 4%.

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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.