Is Lakeland, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Lakeland has remained a Seller's Market.
Housing Prices in Lakeland, FL
How much do homes in Lakeland, FL cost?
Median Sold Price
$315,000
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Lakeland was $315,000 in June 2024, up 1.4% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $137.2K | $116.5K | -15.1% |
2 Bedrooms | $224.3K | $219.9K | -2.0% |
3 Bedrooms | $299.8K | $300.9K | 0.4% |
4 Bedrooms | $390K | $385.4K | -1.2% |
5+ Bedrooms | $430K | $499.1K | +16.1% |
Summary: Lakeland housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.1%, 2 bedroom homes decreased by 2%, 3 bedroom homes increased by 0.4%, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes increased by 16.1%.
Median Sold Price Compared To Nearby Cities
Plant City | $338.2K | $361.2K | +6.8% |
Lakeland | $310.5K | $315K | +1.4% |
Polk City | $325K | $325K | 0.0% |
Housing Supply in Lakeland, FL
How many homes are available in Lakeland, FL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
1,347 | 1,287 | -4.5% |
Summary: The Lakeland real estate market had 1,287 homes for sale in June 2024, a 4.5% decrease compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 12 | 12 | 0.0% |
2 Bedrooms | 191 | 186 | -2.6% |
3 Bedrooms | 644 | 593 | -7.9% |
4 Bedrooms | 394 | 396 | 0.5% |
5+ Bedrooms | 106 | 100 | -5.7% |
Summary: The Lakeland housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 2.6%, 3 bedroom homes decreased by 7.9%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes decreased by 5.7%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
295 | 273 | -7.5% |
Asking Price vs. Sold Price
153 Homes Were Sold
Under Asking
74 Homes Were Sold
At Asking
46 Homes Were Sold
Over Asking
Summary: A total of 273 homes were sold or pending in Lakeland in June 2024, down by 7.5% month-over-month. Of the 273 sold homes, 56% were sold under asking, 27% were sold at asking, and 17% were sold over asking.
Days on Market for Lakeland, FL
How long does it take to sell a home in Lakeland, FL?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
31 Days | 46 Days | +44.6% |
Summary: Homes in Lakeland had an average of 46 days on market in Jun 2024, up by 44.6% compared to last year.
Breakdown of Home Sale Times
154 Homes Were Sold
Under 30 Days
77 Homes Were Sold
In 30 - 90 Days
42 Homes Were Sold
Over 90 Days
Summary: During June 2024, 273 homes were sold in Lakeland; 56% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.