Is Lake Worth, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$452,421
$270/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lake Worth have sold for 11.6% more than they did a year ago.
Summary: The median home sold price in Lake Worth was $452,421 in March 2024, up 11.6% from last year, and the median price per square foot was $270.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $120K | $128K | +6.7% |
| 2 Bedrooms | $248.6K | $246.8K | -0.7% |
| 3 Bedrooms | $460K | $491K | +6.7% |
| 4 Bedrooms | $605K | $650K | +7.4% |
| 5+ Bedrooms | $760K | $760K | 0.0% |
Summary: Lake Worth housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.7%, 2 bedroom homes decreased by 0.7%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Lake Clarke Shores | $575K | $675K | +17.4% |
| Lake Worth | $405.4K | $452.4K | +11.6% |
| West Palm Beach | $379.3K | $382.9K | +0.9% |
| Palm Beach | $1.6M | $1.1M | -33.5% |
Housing Supply in Lake Worth, FL
How many homes are available in Lake Worth, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,032 | 1,136 | +10.1% |
Summary: The Lake Worth real estate market had 1,136 homes for sale in March 2024, a 10.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 71 | 82 | +15.5% |
| 2 Bedrooms | 360 | 393 | +9.2% |
| 3 Bedrooms | 394 | 437 | +10.9% |
| 4 Bedrooms | 132 | 143 | +8.3% |
| 5+ Bedrooms | 75 | 81 | +8.0% |
Summary: The Lake Worth housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15.5%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 129 | 145 | +12.4% |
Asking Price vs. Sold Price
94 Homes Were Sold
Under Asking
34 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Worth, you may be able to get a good deal. 64.8% of homes here sold below asking price last month.
Summary: A total of 145 homes were sold or pending in Lake Worth in March 2024, up by 12.4% month-over-month. Of the 145 sold homes, 65% were sold under asking, 23% were sold at asking, and 12% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 51 Days | 49 Days | -3.1% |
Summary: Homes in Lake Worth had an average of 49 days on market in Mar 2024, down by 3.1% compared to last year.
Breakdown of Home Sale Times
84 Homes Were Sold
Under 30 Days
32 Homes Were Sold
In 30 - 90 Days
29 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake Worth are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 145 homes were sold in Lake Worth; 58% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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