$35,000
1.15 Acres
Land
Renee Butler, Listing Office: BROKERS REALTY OF CENTRAL FLOR
Is Lake Wales, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
At the same time last year, Lake Wales was a Seller's Market.
Key Takeaway
Lake Wales is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lake Wales, FL
How much do homes in Lake Wales, FL cost?
Median Sold Price
$269,800
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$12,133(+4.7%)
Key Takeaway
Homes in Lake Wales have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in Lake Wales was $269,800 in September 2024, up 4.7% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $85K | $102.5K | +20.6% |
| 2 Bedrooms | $185K | $180K | -2.7% |
| 3 Bedrooms | $279.8K | $275K | -1.7% |
| 4 Bedrooms | $320K | $320K | 0.0% |
| 5+ Bedrooms | $350K | $305K | -12.9% |
Summary: Lake Wales housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.6%, 2 bedroom homes decreased by 2.7%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 12.9%.
Median Sold Price Compared To Nearby Cities
| Lake Wales | $257.6K | $269.8K | +4.7% |
| Winter Haven | $305K | $300K | -1.6% |
| Dundee | $295K | $285K | -3.4% |
Housing Supply in Lake Wales, FL
How many homes are available in Lake Wales, FL?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 318 | 304 | -4.4% |
Summary: The Lake Wales real estate market had 304 homes for sale in September 2024, a 4.4% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 65 | 56 | -13.8% |
| 3 Bedrooms | 171 | 175 | +2.3% |
| 4 Bedrooms | 67 | 57 | -14.9% |
| 5+ Bedrooms | 11 | 12 | +9.1% |
Summary: The Lake Wales housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 13.8%, 3 bedroom homes increased by 2.3%, 4 bedroom homes decreased by 14.9%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 57 | 32 | -43.9% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
3 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. 53.1% of homes here sold below asking price last month.
Summary: A total of 32 homes were sold or pending in Lake Wales in September 2024, down by 43.9% month-over-month. Of the 32 sold homes, 53% were sold under asking, 38% were sold at asking, and 9% 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
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 47 Days | 75 Days | +58.7% |
Summary: Homes in Lake Wales had an average of 75 days on market in Sep 2024, up by 58.7% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lake Wales has remained consistent over time.
Summary: During September 2024, 32 homes were sold in Lake Wales; 25% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.
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