The Long & Foster Market Minute

Focus On: Lancaster County Housing Market April 2019

Units Sold
7
Active Inventory
244
Median Sale Price
$225,000
Days On Market
284
Down
Vs. Year Ago
Up 17%
Vs. Year Ago
Down
Vs. Year Ago
Up 14%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in April, 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 April 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 35 units or 17%. The total number of active inventory this April was 244 compared to 209 in April 2018. This month's total of 244 is higher than the previous month's total supply of available inventory of 228, an increase of 7%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last April, the median sale price for Lancaster County Homes was $248,000. This April, the median sale price was $225,000, a decrease of $23,000 compared to last year. The current median sold price is lower than in March.

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


New Listings
44
Current Contracts
18
Sold Vs. List Price
92.4%
Months of Supply
34.9
Up 19%
Vs. Year Ago
No Change
Vs. Year Ago
Down -3.6%
Vs. Year Ago
Up
Vs. Year Ago

Months of Supply
In April, there was 34.9 months of supply available in Lancaster County, compared to 11.6 in April 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 44 homes newly listed for sale in Lancaster County compared to 37 in April 2018, an increase of 19%. There were 18 current contracts pending sale this April, consistent with the volume a year ago. The number of current contracts is 80% higher than last month.

Sale Price to List Price Ratio
In April, the average sale price in Lancaster County was 92.4% of the average list price, which is 3.5% lower than at this time last year.

Days on Market
This month, the average number of days on market was 284, higher than the average last year, which was 249, an increase of 14%.

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.