Is Lake Park, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake Park is a buyer's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Lake Park was a Seller's Market.

Key Takeaway

Lake Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Lake Park, FL

How much do homes in Lake Park, FL cost?

Median Sold Price

$410,000

$287/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$90,000(+28.1%)

Key Takeaway

Homes in Lake Park have sold for 28.1% more than they did a year ago.

Summary: The median home sold price in Lake Park was $410,000 in May 2024, up 28.1% from last year, and the median price per square foot was $287.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $220.5K$118.7K
-46.1%
2 $280K$340K
+21.4%
3 $375K$432.9K
+15.5%
4 $495K$537.6K
+8.6%
5+ $444K$613.5K
+38.2%

Summary: Lake Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 46.1%, 2 bedroom homes increased by 21.4%, 3 bedroom homes increased by 15.5%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 38.2%.

Median Sold Price Compared To Nearby Cities

Lake Park
+28.1%
North Palm Beach
+19.9%
Palm Beach Gardens
+11.2%
Riviera Beach
-3.9%

Housing Supply in Lake Park, FL

How many homes are available in Lake Park, FL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
5770+22.8%

Summary: The Lake Park real estate market had 70 homes for sale in May 2024, a 22.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 66
0.0%
2 3748
+29.7%
3 89
+12.5%
4 34
+33.3%
5+ 33
0.0%

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 increased by 29.7%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
84-50.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

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 50.0% 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, FL

How long does it take to sell a home in Lake Park, FL?

Average Sale Time

May 2023May 2024CHANGE
57 Days20 Days-64.6%

Summary: Homes in Lake Park had an average of 20 days on market in May 2024, down by 64.6% 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

Breakdown of Home Sale Times

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.

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

Report Updated 12 Days Ago

Newest Listings in Lake Park, FL

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