Lancaster, PA housing market

Lancaster sellers still hold the upper hand this June, and the speed of this market tells the story. The typical home here is worth about three hundred twenty-four thousand dollars, up just over 3 percent from a year ago, and homes are going under contract in about 24 days. That is barely three weeks from listing to accepted offer. Part of the reason is simple scarcity. There are only about 200 homes for sale in the entire city, and while roughly 200 new listings hit the market this month, they are being absorbed about as fast as they arrive. Pricing discipline is holding too. Only about 12 percent of active listings have taken a price cut, which means most sellers are getting their number without chasing the market down. The median list price sits around three hundred thirty-six thousand dollars, a touch above typical values, so asking prices are confident but not wild. If you are thinking about selling in Lancaster, this market rewards a well priced, well presented home, and it punishes hesitation from buyers more than sellers. Know your number before you list.