The Long & Foster Market Minute

Focus On: Lancaster County Housing Market September 2018

Units Sold
21
Active Inventory
209
Median Sale Price
$275,000
Days On Market
227
Down -19%
Vs. Year Ago
Down -18%
Vs. Year Ago
Up
Vs. Year Ago
Down -10%
Vs. Year Ago

Units Sold
There was an increase in total units sold in September, with 21 sold this month in Lancaster County Real Estate versus 17 last month, an increase of 24%. This month's total units sold was lower than at this time last year, a decrease of 19% versus September 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 45 units or 18%. The total number of active inventory this September was 209 compared to 254 in September 2017. This month's total of 209 is lower than the previous month's total supply of available inventory of 221, a decrease of 5%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last September, the median sale price for Lancaster County Homes was $172,500. This September, the median sale price was $275,000, an increase of $102,500 compared to last year. The current median sold price is lower than in August.

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


New Listings
20
Current Contracts
21
Sold Vs. List Price
94.1%
Months of Supply
10.0
Down -23%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 2.6%
Vs. Year Ago
Up 2%
Vs. Year Ago

Months of Supply
In September, there was 10.0 months of supply available in Lancaster County, compared to 9.8 in September 2017. That is an increase of 2% 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 20 homes newly listed for sale in Lancaster County compared to 26 in September 2017, a decrease of 23%. There were 21 current contracts pending sale this September compared to 22 a year ago. The number of current contracts is 5% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in Lancaster County was 94.1% of the average list price, which is 2.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 227, lower than the average last year, which was 251, a decrease of 10%.

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.