The Long & Foster Market Minute

Focus On: Lancaster County Housing Market June 2021

Units Sold
29
Active Inventory
47
Median Sale Price
$400,000
Days On Market
200
Up
Vs. Year Ago
Down -66%
Vs. Year Ago
Up 8%
Vs. Year Ago
Down -23%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in June, with 29 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 June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 93 units or 66%. The total number of active inventory this June was 47 compared to 140 in June 2020. This month's total of 47 is lower than the previous month's total supply of available inventory of 54, a decrease of 13%.

Median Sale Price
Last June, the median sale price for Lancaster County Homes was $369,000. This June, the median sale price was $400,000, an increase of 8% or $31,000 compared to last year. The current median sold price is 22% higher than in May.

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
25
Sold Vs. List Price
97.1%
Months of Supply
1.6
Down -19%
Vs. Year Ago
Down -53%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -76%
Vs. Year Ago

Months of Supply
In June, there was 1.6 months of supply available in Lancaster County, compared to 6.7 in June 2020. That is a decrease of 76% 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 32 in June 2020, a decrease of 19%. There were 25 current contracts pending sale this June compared to 53 a year ago. The number of current contracts is 53% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Lancaster County was 97.1% of the average list price, which is 1.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 200, lower than the average last year, which was 261, a decrease of 23%.

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.