Lancaster County Market Update: August Recap & September Predictions
The Lancaster PA real estate market has had a busy summer, and as we step into September, many homeowners and buyers are asking the same question: is the market cooling off, or are we gearing up for another competitive fall? Let’s take a closer look at what’s happening locally, how things compare to earlier this year, and what buyers and sellers should expect heading into the fall season.
August Market Recap: Are Things Cooling?
In August, Lancaster County saw:
Average Days on Market (DOM): Homes are taking about 22–25 days to sell, compared to 17–20 days earlier this spring. That’s slightly longer, suggesting a more balanced pace.
Compared to Last Year: At this time in 2024, the average DOM was around 27–30 days, so even though homes are sitting longer than this spring, the market is still moving faster than it was last year.
Inventory: Inventory has crept up slightly compared to the peak of summer, giving buyers more choices — but we’re still well below the 5–6 months of supply that would signal a true buyer’s market.
Pricing Trends: Home prices in Lancaster remain steady, with most listings closing within 1–2% of their asking price. Multiple offers are less frenzied than in the spring, but well-priced homes in desirable neighborhoods are still drawing strong attention.
What this means: The market isn’t “cooling” in the sense of dropping — it’s normalizing slightly as we shift from the peak summer buying season into the fall.
Looking Ahead: September Predictions
Historically, the Lancaster PA housing market shifts in September:
Buyer demand softens slightly as families settle into the school year.
Sellers who didn’t move their home in summer often become more motivated to negotiate.
Inventory usually stabilizes, but fewer new listings hit the market after mid-September.
For 2025, we can expect:
Slightly longer days on market as buyer urgency drops post-summer.
Stable pricing, since demand is still strong and inventory remains tight.
Opportunities for buyers to negotiate credits, repairs, or seller help with closing costs — something harder to get in the spring rush.
The Fed’s October Decision & What It Means for Lancaster Buyers
The Federal Reserve’s October interest rate decision is on everyone’s mind. Some economists expect a potential rate cut, while others predict the Fed may hold steady until later in the year.
Here’s why this matters locally:
If rates drop over the next 6–9 months, Lancaster real estate could become much more competitive again. Lower mortgage rates reduce monthly payments, pulling more buyers back into the market.
If rates stay steady, we’ll likely continue to see this more balanced pace with steady pricing.
Why Focus on Your Monthly Payment, Not Just the Interest Rate
Many buyers get caught up on whether rates are 7% or 6.5%. But what really matters is your monthly payment and whether it fits your budget.
For example:
A $300,000 home at today’s rate may feel high, but if you wait for rates to drop, you could face bidding wars and rising home prices that cancel out the savings.
Buying now locks in your home price and allows you to refinance later if rates fall — while avoiding the risk of paying more when competition heats back up.
What Usually Happens in Fall in Lancaster
Fall tends to be a quieter but still strong market in Lancaster:
Buyers: You’ll find motivated sellers, fewer bidding wars, and a better chance to negotiate.
Sellers: Homes with curb appeal (think: fall colors, clean landscaping, cozy staging) can stand out as inventory tightens.
Investors: This is often when “price-reduced” listings pop up, creating opportunities to scoop up properties before the end of the year.
Final Thoughts
The Lancaster PA real estate market remains steady and resilient as we transition into fall. Whether you’re buying, selling, or investing, the key is to focus on the numbers that matter — your monthly budget, long-term goals, and timing.
If rates do drop in the next year, competition will heat up fast. Buying now can position you ahead of the curve.
👉 Thinking about buying or selling this fall? Click here to book a free strategy session on my calendar and let’s talk about the best plan for your goals.
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