Is Lancaster, SC 29720 a buyer’s or seller’s market?
Lancaster is a balanced market. With about 4.5 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
More competitive than 32% of U.S. ZIP codes, and #55 of 191 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Lancaster housing market right now
In the three months ending August 31, 2026, 18% of homes in Lancaster, SC 29720 sold above their list price, the typical home went under contract in 64 days and there were 4.5 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 270 home sales.
Compared with the same period a year earlier, the share selling over asking was about the same (16% then), homes sold more slowly (62 days then) and the median sale price rose 2% to $382,335. Overall, Lancaster is about as competitive as it was a year ago.
On our competition score, Lancaster ranks #55 of 191 SC ZIP codes with enough sales (score 35 out of 100).
Nearby, buyers who want less competition could look at Heath Springs 29058 (0% sold over asking) or Kershaw 29067 (14% sold over asking).
Run the numbers for 29720
Nearby markets
Fort Mill 29707Seller’s market $217 /sq ftHeath Springs 29058Balanced $172 /sq ftKershaw 29067Buyer’s market $161 /sq ft Browse all markets →Towns like Lancaster nearby
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Questions about Lancaster real estate
Is Lancaster a buyer’s or seller’s market?
A balanced market: there were 4.5 months of supply in Lancaster, SC 29720 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Lancaster?
The typical home went under contract in 64 days in the latest three months.
Do homes in Lancaster sell over asking?
18% of homes sold above their original list price, and the typical sale closed at 98.5% of the list price.
What are property taxes in Lancaster?
About 0.50% of a home’s value a year in Lancaster County, or roughly $2,000 on a $400,000 home.
What is the median home price in Lancaster?
The median sale price was $382,335 in the three months ending August 31, 2026, about $191 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology