Is Lake Wales, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Lake Wales was a Seller's Market.
Key Takeaway
Lake Wales is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Lake Wales, FL
How much do homes in Lake Wales, FL cost?
Median Sold Price
$255,000
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Lake Wales have sold for 3.6% less than they did a year ago.
Summary: The median home sold price in Lake Wales was $255,000 in June 2024, down 3.6% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $85K | $100K | +17.6% |
| 2 Bedrooms | $189K | $173.5K | -8.2% |
| 3 Bedrooms | $284.9K | $270K | -5.2% |
| 4 Bedrooms | $322.2K | $320K | -0.7% |
| 5+ Bedrooms | $345K | $350K | +1.4% |
Summary: Lake Wales housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.6%, 2 bedroom homes decreased by 8.2%, 3 bedroom homes decreased by 5.2%, 4 bedroom homes decreased by 0.7%, and 5+ bedroom homes increased by 1.4%.
Median Sold Price Compared To Nearby Cities
| Winter Haven | $305.5K | $300K | -1.8% |
| Dundee | $297K | $289.5K | -2.5% |
| Lake Wales | $264.4K | $255K | -3.6% |
Housing Supply in Lake Wales, FL
How many homes are available in Lake Wales, FL?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 333 | 322 | -3.3% |
Summary: The Lake Wales real estate market had 322 homes for sale in June 2024, a 3.3% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 6 | +20.0% |
| 2 Bedrooms | 78 | 74 | -5.1% |
| 3 Bedrooms | 180 | 171 | -5.0% |
| 4 Bedrooms | 64 | 62 | -3.1% |
| 5+ Bedrooms | 6 | 9 | +50.0% |
Summary: The Lake Wales housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes decreased by 5.1%, 3 bedroom homes decreased by 5%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 54 | 50 | -7.4% |
Asking Price vs. Sold Price
30 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Wales, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 50 homes were sold or pending in Lake Wales in June 2024, down by 7.4% month-over-month. Of the 50 sold homes, 60% were sold under asking, 28% were sold at asking, and 12% were sold over asking.
Days on Market for Lake Wales, FL
How long does it take to sell a home in Lake Wales, FL?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 46 Days | 69 Days | +49.5% |
Summary: Homes in Lake Wales had an average of 69 days on market in Jun 2024, up by 49.5% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lake Wales has remained consistent over time.
Summary: During June 2024, 50 homes were sold in Lake Wales; 32% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
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