Is Lake Worth, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Lake Worth was a Seller's Market.
Housing Prices in Lake Worth, FL
How much do homes in Lake Worth, FL cost?
Median Sold Price
$450,167
$272/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lake Worth was $450,167 in May 2024, up 5.8% from last year, and the median price per square foot was $272.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $125K | $130K | +4.0% |
2 Bedrooms | $235K | $254.7K | +8.4% |
3 Bedrooms | $472.3K | $497.5K | +5.3% |
4 Bedrooms | $649K | $650K | 0.2% |
5+ Bedrooms | $751.2K | $778.2K | +3.6% |
Summary: Lake Worth housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4%, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes increased by 3.6%.
Median Sold Price Compared To Nearby Cities
Lake Clarke Shores | $585K | $673K | +15.0% |
West Palm Beach | $360.1K | $394.6K | +9.6% |
Lake Worth | $425.3K | $450.1K | +5.8% |
Palm Beach | $1.4M | $1.1M | -26.5% |
Housing Supply in Lake Worth, FL
How many homes are available in Lake Worth, FL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1,122 | 1,207 | +7.6% |
Summary: The Lake Worth real estate market had 1,207 homes for sale in May 2024, a 7.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 81 | 84 | +3.7% |
2 Bedrooms | 380 | 399 | +5.0% |
3 Bedrooms | 413 | 459 | +11.1% |
4 Bedrooms | 168 | 178 | +6.0% |
5+ Bedrooms | 80 | 87 | +8.8% |
Summary: The Lake Worth housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.7%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 8.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
187 | 169 | -9.6% |
Asking Price vs. Sold Price
125 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Summary: A total of 169 homes were sold or pending in Lake Worth in May 2024, down by 9.6% month-over-month. Of the 169 sold homes, 74% were sold under asking, 12% were sold at asking, and 14% were sold over asking.
Days on Market for Lake Worth, FL
How long does it take to sell a home in Lake Worth, FL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
40 Days | 52 Days | +30.5% |
Summary: Homes in Lake Worth had an average of 52 days on market in May 2024, up by 30.5% compared to last year.
Breakdown of Home Sale Times
79 Homes Were Sold
Under 30 Days
53 Homes Were Sold
In 30 - 90 Days
37 Homes Were Sold
Over 90 Days
Summary: During May 2024, 169 homes were sold in Lake Worth; 47% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.