Is Lakeport, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lakeport is a seller's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Lakeport was a Neutral Market.

Key Takeaway

Lakeport is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lakeport, CA

How much do homes in Lakeport, CA cost?

Median Sold Price

$350,000

$247/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$80,000(-18.6%)

Key Takeaway

Homes in Lakeport have sold for 18.6% less than they did a year ago.

Summary: The median home sold price in Lakeport was $350,000 in May 2024, down 18.6% from last year, and the median price per square foot was $247.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $166K$350K
+110.8%
2 $292K$294.9K
+1.0%
3 $440K$364.5K
-17.2%
4 $550K$555K
+0.9%
5+ $562.5K$1.7M
+211.6%

Summary: Lakeport housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 110.8%, 2 bedroom homes increased by 1%, 3 bedroom homes decreased by 17.2%, 4 bedroom homes increased by 0.9%, and 5+ bedroom homes increased by 211.6%.

Housing Supply in Lakeport, CA

How many homes are available in Lakeport, CA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
7480+8.1%

Summary: The Lakeport real estate market had 80 homes for sale in May 2024, a 8.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 22
0.0%
2 1922
+15.8%
3 3336
+9.1%
4 1012
+20.0%
5+ 108
-20.0%

Summary: The Lakeport 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 increased by 15.8%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 20%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Apr 2024May 2024CHANGE
14140.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lakeport, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in Lakeport in May 2024, the same as the previous month. Of the 14 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.

Days on Market for Lakeport, CA

How long does it take to sell a home in Lakeport, CA?

Average Sale Time

May 2023May 2024CHANGE
26 Days40 Days+54.3%

Summary: Homes in Lakeport had an average of 40 days on market in May 2024, up by 54.3% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lakeport are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 14 homes were sold in Lakeport; 43% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 13 Days Ago

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