Let’s take a peak at the current real estate market here in Lancaster County. As you can see in the graphic below, comparing May of 2024 to 2023, new listings and sold listings were down slightly from May of 2023, which remains in line with the past several months.Â
Although sold listings were down from last year, they were up 14% over last month.
Average sales price continues to increase over last year, coming in at $370,148, an 8% increase over last year’s $342,195. The average sale price to listing price ratio for May 2024 came in at 103.2%, meaning that many homes are selling slightly above their asking price. Average days on market for May of 2024 came in at 21 days, a 50% increase from last May’s 14 days on market.
If you are thinking of making a move, or have any general questions about the market, please do not hesitate to reach out!