Is Lake Park, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lake Park has remained a Seller's Market.
Key Takeaway
Lake Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Park, NC
How much do homes in Lake Park, NC cost?
Median Sold Price
$387,500
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lake Park have sold for 2% more than they did a year ago.
Summary: The median home sold price in Lake Park was $387,500 in May 2024, up 2% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $276K | $288.3K | +4.5% |
| 3 Bedrooms | $388.5K | $375K | -3.5% |
| 4 Bedrooms | $390K | $430K | +10.3% |
| 5+ Bedrooms | $439K | $584K | +33.0% |
Summary: Lake Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.5%, 3 bedroom homes decreased by 3.5%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 33%.
Median Sold Price Compared To Nearby Cities
| Lake Park | $380K | $387.5K | +2.0% |
| Indian Trail | $418.2K | $426.6K | +2.0% |
| Vance Township | $423.7K | $426.4K | +0.6% |
Housing Supply in Lake Park, NC
How many homes are available in Lake Park, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 14 | -26.3% |
Summary: The Lake Park real estate market had 14 homes for sale in May 2024, a 26.3% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 2 | -60.0% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 3 | 0 | -100.0% |
Summary: The Lake Park housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 60%, 3 bedroom homes remained the same, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 4 | -55.6% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Park, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Lake Park in May 2024, down by 55.6% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Lake Park, NC
How long does it take to sell a home in Lake Park, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 31 Days | 22 Days | -29.1% |
Summary: Homes in Lake Park had an average of 22 days on market in May 2024, down by 29.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake Park are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Lake Park; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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