Is Lake Mary, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Lake Mary has remained a Seller's Market.
Key Takeaway
Lake Mary is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Mary, FL
How much do homes in Lake Mary, FL cost?
Median Sold Price
$465,375
$245/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lake Mary have sold for 3% less than they did a year ago.
Summary: The median home sold price in Lake Mary was $465,375 in April 2024, down 3% from last year, and the median price per square foot was $245.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $167K | $168.5K | +0.9% |
| 2 Bedrooms | $280K | $260K | -7.1% |
| 3 Bedrooms | $430K | $425K | -1.2% |
| 4 Bedrooms | $545K | $625K | +14.7% |
| 5+ Bedrooms | $909.5K | $950K | +4.5% |
Summary: Lake Mary housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.9%, 2 bedroom homes decreased by 7.1%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes increased by 14.7%, and 5+ bedroom homes increased by 4.5%.
Median Sold Price Compared To Nearby Cities
| Sanford | $329.5K | $359.6K | +9.1% |
| Casselberry-Altamonte Springs | $354.5K | $368.6K | +4.0% |
| Lake Mary | $480K | $465.3K | -3.0% |
Housing Supply in Lake Mary, FL
How many homes are available in Lake Mary, FL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 199 | 220 | +10.6% |
Summary: The Lake Mary real estate market had 220 homes for sale in April 2024, a 10.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 15 | +7.1% |
| 2 Bedrooms | 27 | 31 | +14.8% |
| 3 Bedrooms | 61 | 70 | +14.8% |
| 4 Bedrooms | 75 | 81 | +8.0% |
| 5+ Bedrooms | 22 | 23 | +4.5% |
Summary: The Lake Mary housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.1%, 2 bedroom homes increased by 14.8%, 3 bedroom homes increased by 14.8%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 4.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 36 | 47 | +30.6% |
Asking Price vs. Sold Price
28 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Mary, you may be able to get a good deal. 59.6% of homes here sold below asking price last month.
Summary: A total of 47 homes were sold or pending in Lake Mary in April 2024, up by 30.6% month-over-month. Of the 47 sold homes, 60% were sold under asking, 28% were sold at asking, and 13% were sold over asking.
Days on Market for Lake Mary, FL
How long does it take to sell a home in Lake Mary, FL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 31 Days | 37 Days | +21.9% |
Summary: Homes in Lake Mary had an average of 37 days on market in Apr 2024, up by 21.9% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake Mary are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 47 homes were sold in Lake Mary; 64% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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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.