The Lancaster County real estate market continues to show its strength and resilience as we move through the fall season. The latest data highlights positive trends for buyers and sellers alike, making this an exciting time to participate in the market. Let’s break down the numbers for October 2024:
New Listings See a Healthy Increase
In October 2024, new listings increased by 8.8% compared to October 2023. This uptick in inventory provides more options for buyers who have faced limited choices over the past year. For sellers, it’s still a competitive market, but a growing pool of listings means pricing your home correctly is more important than ever.
Sold Listings Rise 7%
The number of sold listings in October 2024 grew by 7% compared to the same month last year. This demonstrates that demand remains robust, even as the market stabilizes. Well-prepared homes priced appropriately are still attracting buyers quickly.
Average Sales Price on the Rise
The average sales price in October 2024 was $358,277, up from $353,391 in October 2023. This 1.4% increase reflects steady appreciation, which benefits homeowners looking to build equity while maintaining affordability for buyers.
What Does This Mean for You?
If you’re considering selling, this is a fantastic time to enter the market while buyer demand remains high. For buyers, the slight increase in listings means more choices, but acting quickly and strategically is key in a competitive environment.
As always, having an experienced real estate professional by your side can make all the difference. Whether you’re buying or selling, the Craig Hartranft Team is here to help you navigate the Lancaster County market with confidence.
Let’s connect today to discuss your real estate goals!