The Long & Foster Market Minute

Focus On: Lancaster County Housing Market December 2018

Units Sold
12
Active Inventory
188
Median Sale Price
$218,750
Days On Market
272
Down
Vs. Year Ago
Down -11%
Vs. Year Ago
Down
Vs. Year Ago
Down -19%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in December, with 12 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 December 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 23 units or 11%. The total number of active inventory this December was 188 compared to 211 in December 2017. This month's total of 188 is lower than the previous month's total supply of available inventory of 206, a decrease of 9%.

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 $359,875. This December, the median sale price was $218,750, a decrease of $141,125 compared to last year. The current median sold price is lower 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.


New Listings
15
Current Contracts
11
Sold Vs. List Price
92.6%
Months of Supply
15.7
Up 25%
Vs. Year Ago
Down -8%
Vs. Year Ago
Up 3.5%
Vs. Year Ago
Up 49%
Vs. Year Ago

Months of Supply
In December, there was 15.7 months of supply available in Lancaster County, compared to 10.6 in December 2017. That is an increase of 48% 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 15 homes newly listed for sale in Lancaster County compared to 12 in December 2017, an increase of 25%. There were 11 current contracts pending sale this December compared to 12 a year ago. The number of current contracts is 8% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Lancaster County was 92.6% of the average list price, which is 3.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 272, lower than the average last year, which was 337, a decrease of 19%.

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.