Lancaster County is a small county in Virginia with a population of 11,391 residents, and it has an average density compared to the rest of the state, with 85.5 people per square mile. Its three largest cities are Kilmarnock, Irvington, and White Stone. Keep in mind, most people in Lancaster County own their homes, with a 55.4% ownership ratio. Heading the list of top schools in the county is Lancaster High School.
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$1.7M  
Sales in the Lancaster County market remained flat at three homes sold over the last 30 days, while the number of sellers reducing their list prices reached 10, which continues an emerging upward trend in price reductions. All indications show that the trend may be coming to an end, meaning less price reductions over the next few weeks. Prices are falling in Lancaster County, and this period the median price of all sales fell from $555,000 to $310,000. Lancaster County is a solid buyer's market, thanks to a big 26 months of inventory to choose from and the flat sales.
Comments:

$105K  
Over the last 30 days, three homes were sold in the Lancaster County market, up 50.0%. However, the market is still in a recent downward trend overall. Potential buyers should note that prices are coming down in Lancaster County, and for this period the median sales price slid from $1,227,000 to $555,000. Despite the uptick in sales, there are still 22 months of inventory left to work through, meaning Lancaster County is still a definite buyer's market.
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$749K  
Fewer sellers put their homes up for sale in the Lancaster County market over the last 30 days and the number of new listings fell this week to 10. Home sales remained unchanged from the prior period and once again two homes were sold. The median sales price remained unchanged over the latest reporting period for Lancaster County, coming in at $1,224,750. Lancaster County is a definite buyer's market, due to a big 30 months of inventory left and aided by the flat sales.
Comments:

$1.7M  
October was the last time there were so many price reductions in the Lancaster County market, with 11 reported over the last 30 days. The market also had two homes change hands. When comparing other close-by counties within the same period, the most came from St. Mary's County with 164 price reductions. Prices are rising in Lancaster County, and the median sales price this period increased from $342,750 to $1,224,750. A downturn in contracts, coupled with the availability of 30 months of inventory, prove that Lancaster County is a solid buyer's market.
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The population of Lancaster County is less affluent than average compared to others in Virginia with a median income of $42,451 per household. It's also considered an expensive county in terms of affordability with a cost of living adjustment score of 108.0. Kilmarnock, Irvington, and White Stone are its three most populated cities. Lancaster County is made up of homes that are considered relatively old with a median of 34 years. The top school in the county is Lancaster High School.
Comments:

$893K  
With two homes sold in the Lancaster County market over the last 30 days, we see no change from last week's numbers. In addition, there was no shift in the amount of sellers who came into the market in the same time frame, with 13 new listings for buyers to choose from. Months of inventory continued to climb, hitting a three-month high at 27 months. Lancaster County is a strong buyer's market, due to the large amount of inventory left and aided by the dip in sales.
Comments:

$1.7M  
The Lancaster County market has established a new upward trend, even as sales fell 60.0% this week to two homes over the last 30 days. All indications show that the trend may be coming to an end, meaning less sales over the next few weeks. As sales trended higher, the median sales price climbed with it, trending upwards for four weeks to reach $342,750. Lancaster County is a strong buyer's market, thanks to a big 27 months of inventory to choose from and a pullback in sales.
Comments:

$893K  
The number of homes coming into the Lancaster County market stayed firm with 18 listings over the last 30 days, while sales remained right where they were as once again five homes were sold over the same period. The median sales price remained unchanged over the latest reporting period for Lancaster County, coming in at $209,000. With no movement in sales and the availability of 11 months of inventory, Lancaster County is a solid buyer's market.
Comments:

$893K  
Over the last 30 days, the Lancaster County market showed improvement with five homes sold, a 25.0% increase from last week's report. Within the same time period, St. Mary's County had 91 sales, the most of all counties in the area. The median sales price remained unchanged over the latest reporting period for Lancaster County, coming in at $209,000. Despite the uptick in sales, there are still 11 months of inventory left to work through, meaning Lancaster County is still a strong buyer's market.
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