Is Lake Worth, 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 Worth was a Seller's Market.
Key Takeaway
Lake Worth 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 Worth, FL
How much do homes in Lake Worth, FL cost?
Median Sold Price
$451,281
$272/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lake Worth have sold for 7.8% more than they did a year ago.
Summary: The median home sold price in Lake Worth was $451,281 in April 2024, up 7.8% from last year, and the median price per square foot was $272.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $125K | $128K | +2.4% |
| 2 Bedrooms | $240.8K | $254.7K | +5.8% |
| 3 Bedrooms | $465.5K | $495.3K | +6.4% |
| 4 Bedrooms | $635K | $650K | +2.4% |
| 5+ Bedrooms | $743K | $778.2K | +4.7% |
Summary: Lake Worth housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 4.7%.
Median Sold Price Compared To Nearby Cities
| Lake Clarke Shores | $595K | $673K | +13.1% |
| Lake Worth | $418.7K | $451.2K | +7.8% |
| West Palm Beach | $374.8K | $386.2K | +3.1% |
| Palm Beach | $1.6M | $1.1M | -31.3% |
Housing Supply in Lake Worth, FL
How many homes are available in Lake Worth, FL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1,096 | 1,196 | +9.1% |
Summary: The Lake Worth real estate market had 1,196 homes for sale in April 2024, a 9.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 77 | 92 | +19.5% |
| 2 Bedrooms | 374 | 407 | +8.8% |
| 3 Bedrooms | 422 | 435 | +3.1% |
| 4 Bedrooms | 142 | 172 | +21.1% |
| 5+ Bedrooms | 81 | 90 | +11.1% |
Summary: The Lake Worth housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 19.5%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 166 | 174 | +4.8% |
Asking Price vs. Sold Price
124 Homes Were Sold
Under Asking
29 Homes Were Sold
At Asking
21 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. 71.3% of homes here sold below asking price last month.
Summary: A total of 174 homes were sold or pending in Lake Worth in April 2024, up by 4.8% month-over-month. Of the 174 sold homes, 71% were sold under asking, 17% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 51 Days | 46 Days | -10.0% |
Summary: Homes in Lake Worth had an average of 46 days on market in Apr 2024, down by 10% compared to last year.
Breakdown of Home Sale Times
97 Homes Were Sold
Under 30 Days
51 Homes Were Sold
In 30 - 90 Days
26 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 April 2024, 174 homes were sold in Lake Worth; 56% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
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