Is Lake Placid, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lake Placid has remained a Seller's Market.
Key Takeaway
Lake Placid is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Placid, FL
How much do homes in Lake Placid, FL cost?
Median Sold Price
$305,000
$190/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lake Placid have sold for 8.9% more than they did a year ago.
Summary: The median home sold price in Lake Placid was $305,000 in May 2024, up 8.9% from last year, and the median price per square foot was $190.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $252K | $210K | -16.7% |
| 3 Bedrooms | $300K | $309K | +3.0% |
| 4 Bedrooms | $414.5K | $520K | +25.5% |
| 5+ Bedrooms | - | $532.5K | N/A |
Summary: Lake Placid housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 25.5%, and 5+ bedroom homes did not change.
Housing Supply in Lake Placid, FL
How many homes are available in Lake Placid, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 38 | 43 | +13.2% |
Summary: The Lake Placid real estate market had 43 homes for sale in May 2024, a 13.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 10 | 9 | -10.0% |
| 3 Bedrooms | 18 | 23 | +27.8% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Lake Placid housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 27.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 8 | +33.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Placid, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Lake Placid in May 2024, up by 33.3% month-over-month. Of the 8 sold homes, 63% were sold under asking, 38% were sold at asking, and 0% were sold over asking.
Days on Market for Lake Placid, FL
How long does it take to sell a home in Lake Placid, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 25 Days | 29 Days | +15.1% |
Summary: Homes in Lake Placid had an average of 29 days on market in May 2024, up by 15.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake Placid are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Lake Placid; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
Copyright 2024 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.
© 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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The data relating to real estate for sale on this website comes in part from the Southwest Florida Multiple Listing Service. The information being provided is 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. Information has not been verified, is not guaranteed, and is subject to change. Real estate listings held by other brokerage firms other are marked with the IDX logo and detailed information about them includes the name of the listing brokers.
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.