Is Lake City, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Lake City was a Seller's Market.
Key Takeaway
Lake City is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Lake City, FL
How much do homes in Lake City, FL cost?
Median Sold Price
$258,698
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lake City have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in Lake City was $258,698 in March 2024, up 3.5% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $19.5K | N/A |
| 2 Bedrooms | $92K | $166.2K | +80.7% |
| 3 Bedrooms | $227.5K | $250K | +9.9% |
| 4 Bedrooms | $365.7K | $348K | -4.8% |
| 5+ Bedrooms | $370.5K | $324.9K | -12.3% |
Summary: Lake City housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 80.7%, 3 bedroom homes increased by 9.9%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes decreased by 12.3%.
Housing Supply in Lake City, FL
How many homes are available in Lake City, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 60 | 64 | +6.7% |
Summary: The Lake City real estate market had 64 homes for sale in March 2024, a 6.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 38 | 38 | 0.0% |
| 4 Bedrooms | 16 | 17 | +6.3% |
| 5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Lake City housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 10 | +66.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake City, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Lake City in March 2024, up by 66.7% month-over-month. Of the 10 sold homes, 60% were sold under asking, 10% were sold at asking, and 30% were sold over asking.
Days on Market for Lake City, FL
How long does it take to sell a home in Lake City, FL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 61 Days | 64 Days | +5.4% |
Summary: Homes in Lake City had an average of 64 days on market in Mar 2024, up by 5.4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake City are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in Lake City; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
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© 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.
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Copyright © 2024 Multiple Listing Service of South Brevard, Inc. and Space Coast Association of REALTORS, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity™ Program of Space Coast Multiple Listing Service. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Deemed Reliable But Not Guaranteed. Real estate listings held by brokerage firms other this broker are marked with the Broker Reciprocity™ logo or the Broker Reciprocity™ thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Some properties which appear for sale on this web site may subsequently have sold and may no longer be available.