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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake Placid is a buyer's market

Buyer's
Market

Difference Since Last Month

Since last month, Lake Placid has remained a Buyer's Market.

Key Takeaway

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

Housing Prices in Lake Placid, FL

How much do homes in Lake Placid, FL cost?

Median Sold Price

$340,000

$153/sqft

Based on all homes sold in February 2024.

Difference Since Last Month

-$180,000(-34.6%)

Key Takeaway

Homes in Lake Placid have sold for 34.6% less than they did a month ago.

Summary: The median home sold price in Lake Placid was $340,000 in February 2024, down 34.6% from last month, and the median price per square foot was $153.

Median Sold Price By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 --
N/A
2 -$150K
N/A
3 $634.5K$820K
+29.2%
4 $520K-
N/A
5+ --
N/A

Summary: Lake Placid housing prices by bedroom type for February 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 29.2%, 4 bedroom homes did not change, 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

Jan 2024Feb 2024CHANGE
4049+22.5%

Summary: The Lake Placid real estate market had 49 homes for sale in February 2024, a 22.5% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 1214
+16.7%
3 2128
+33.3%
4 44
0.0%
5+ 33
0.0%

Summary: The Lake Placid housing inventory by bedroom type for February 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 increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
330.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake Placid, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Lake Placid in February 2024, the same as the previous month. Of the 3 sold homes, 100% were sold under asking, 0% 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

Jan 2024Feb 2024CHANGE
46 Days45 Days-2.9%

Summary: Homes in Lake Placid had an average of 45 days on market in Feb 2024, down by 2.9% compared to last month.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lake Placid are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 3 homes were sold in Lake Placid; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% 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 28 Days Ago

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