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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake Worth is a buyer's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Lake Worth was a Seller's Market.

Key Takeaway

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

Housing Prices in Lake Worth, FL

How much do homes in Lake Worth, FL cost?

Median Sold Price

$450,167

$272/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$24,860(+5.8%)

Key Takeaway

Homes in Lake Worth have sold for 5.8% more than they did a year ago.

Summary: The median home sold price in Lake Worth was $450,167 in May 2024, up 5.8% from last year, and the median price per square foot was $272.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $125K$130K
+4.0%
2 $235K$254.7K
+8.4%
3 $472.3K$497.5K
+5.3%
4 $649K$650K
0.2%
5+ $751.2K$778.2K
+3.6%

Summary: Lake Worth housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4%, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes increased by 3.6%.

Median Sold Price Compared To Nearby Cities

Lake Clarke Shores
+15.0%
West Palm Beach
+9.6%
Lake Worth
+5.8%
Palm Beach
-26.5%

Housing Supply in Lake Worth, FL

How many homes are available in Lake Worth, FL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1,1221,207+7.6%

Summary: The Lake Worth real estate market had 1,207 homes for sale in May 2024, a 7.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 8184
+3.7%
2 380399
+5.0%
3 413459
+11.1%
4 168178
+6.0%
5+ 8087
+8.8%

Summary: The Lake Worth housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.7%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 8.8%.

Number of Homes Sold

Apr 2024May 2024CHANGE
187169-9.6%

Asking Price vs. Sold Price

125 Homes Were Sold
Under Asking

21 Homes Were Sold
At Asking

23 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake Worth, you may be able to get a good deal. 74% of homes here sold below asking price last month.

Summary: A total of 169 homes were sold or pending in Lake Worth in May 2024, down by 9.6% month-over-month. Of the 169 sold homes, 74% were sold under asking, 12% were sold at asking, and 14% were sold over asking.

Days on Market for Lake Worth, FL

How long does it take to sell a home in Lake Worth, FL?

Average Sale Time

May 2023May 2024CHANGE
40 Days52 Days+30.5%

Summary: Homes in Lake Worth had an average of 52 days on market in May 2024, up by 30.5% compared to last year.

Breakdown of Home Sale Times

79 Homes Were Sold
Under 30 Days

53 Homes Were Sold
In 30 - 90 Days

37 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 169 homes were sold in Lake Worth; 47% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 22% 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 19 Days Ago

Newest Listings in Lake Worth, FL

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