Is Lake Park, 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 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
$402,000
$293/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lake Park have sold for 24.7% more than they did a year ago.
Summary: The median home sold price in Lake Park was $402,000 in March 2024, up 24.7% from last year, and the median price per square foot was $293.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $220.5K | $140K | -36.5% |
| 2 Bedrooms | $275K | $357.5K | +30.0% |
| 3 Bedrooms | $362.5K | $440K | +21.4% |
| 4 Bedrooms | $495K | $543.2K | +9.7% |
| 5+ Bedrooms | $645K | $613.5K | -4.9% |
Summary: Lake Park housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 36.5%, 2 bedroom homes increased by 30%, 3 bedroom homes increased by 21.4%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes decreased by 4.9%.
Median Sold Price Compared To Nearby Cities
| Lake Park | $322.5K | $402K | +24.7% |
| North Palm Beach | $450K | $530K | +17.8% |
| Palm Beach Gardens | $622K | $719.8K | +15.7% |
| Riviera Beach | $415K | $390.6K | -5.9% |
Housing Supply in Lake Park, FL
How many homes are available in Lake Park, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 48 | 57 | +18.8% |
Summary: The Lake Park real estate market had 57 homes for sale in March 2024, a 18.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 28 | 35 | +25.0% |
| 3 Bedrooms | 12 | 11 | -8.3% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Lake Park 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 25%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 200%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Park, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Lake Park in March 2024, up by 66.7% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 46 Days | 63 Days | +38.7% |
Summary: Homes in Lake Park had an average of 63 days on market in Mar 2024, up by 38.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake Park are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in Lake Park; 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.