Is Lake Wales, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Lake Wales was a Seller's Market.
Housing Prices in Lake Wales, FL
How much do homes in Lake Wales, FL cost?
Median Sold Price
$250,000
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lake Wales was $250,000 in April 2024, down 9.1% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $85K | $96K | +12.9% |
2 Bedrooms | $217.7K | $164.9K | -24.2% |
3 Bedrooms | $290K | $270K | -6.9% |
4 Bedrooms | $323.6K | $320K | -1.1% |
5+ Bedrooms | $325K | $350K | +7.7% |
Summary: Lake Wales housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.9%, 2 bedroom homes decreased by 24.2%, 3 bedroom homes decreased by 6.9%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes increased by 7.7%.
Median Sold Price Compared To Nearby Cities
Winter Haven | $307.8K | $300.1K | -2.5% |
Dundee | $300K | $290K | -3.3% |
Lake Wales | $274.9K | $250K | -9.1% |
Housing Supply in Lake Wales, FL
How many homes are available in Lake Wales, FL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
339 | 337 | -0.6% |
Summary: The Lake Wales real estate market had 337 homes for sale in April 2024, a 0.6% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 8 | +14.3% |
2 Bedrooms | 101 | 98 | -3.0% |
3 Bedrooms | 174 | 175 | +0.6% |
4 Bedrooms | 52 | 51 | -1.9% |
5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Lake Wales housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes decreased by 3%, 3 bedroom homes increased by 0.6%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
56 | 53 | -5.4% |
Asking Price vs. Sold Price
32 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 53 homes were sold or pending in Lake Wales in April 2024, down by 5.4% month-over-month. Of the 53 sold homes, 60% were sold under asking, 26% were sold at asking, and 13% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
42 Days | 80 Days | +88.7% |
Summary: Homes in Lake Wales had an average of 80 days on market in Apr 2024, up by 88.7% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
18 Homes Were Sold
Over 90 Days
Summary: During April 2024, 53 homes were sold in Lake Wales; 32% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 34% of homes were sold over 90 days.