L
ancaster County's residential real estate market has set a new record for the second consecutive June, with a median sold price of $360,000. This surpasses the previous record of $347,950 set in June 2024. The market remains driven by an imbalance between supply and demand, despite an overall increase in inventory this year.

    According to Lancaster County Association of Realtors President Mike Julian, competitive multiple-offer situations are still common for homes priced within the median range. New listings have increased by 6.2% from June 2024, but dipped nearly 7% compared to May. Inventory remains limited, with days on market dropping to a low of 19 days in June.

    Closed sales reached 488 in June, up 18% from June 2024 and 10% from May. The median sold price in Lancaster County was up 3.5% from June 2024 and 4.3% from May. Statewide, the median sales price climbed to $305,000 in May, a 6% increase from last year.

    Inventory levels are still below what's considered balanced, with a 4.26-month supply in May. A six-month inventory is typically seen as a sign of a balanced market. Prices have continued to rise, with the median home sale price reaching new highs each month since November 2023.