Is Lakeland, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$310,633
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lakeland was $310,633 in March 2024, up 0.4% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $122.5K | $139.5K | +13.9% |
2 Bedrooms | $220.1K | $216.5K | -1.7% |
3 Bedrooms | $300K | $300K | 0% |
4 Bedrooms | $391.8K | $385K | -1.7% |
5+ Bedrooms | $440K | $470K | +6.8% |
Summary: Lakeland housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.9%, 2 bedroom homes decreased by 1.7%, 3 bedroom homes did not change, 4 bedroom homes decreased by 1.7%, and 5+ bedroom homes increased by 6.8%.
Median Sold Price Compared To Nearby Cities
Plant City | $329.4K | $364.7K | +10.7% |
Lakeland | $309.4K | $310.6K | 0.4% |
Polk City | $327.5K | $309.5K | -5.5% |
Housing Supply in Lakeland, FL
How many homes are available in Lakeland, FL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
1,296 | 1,323 | +2.1% |
Summary: The Lakeland real estate market had 1,323 homes for sale in March 2024, a 2.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 4 | -20.0% |
2 Bedrooms | 221 | 245 | +10.9% |
3 Bedrooms | 636 | 651 | +2.4% |
4 Bedrooms | 349 | 342 | -2.0% |
5+ Bedrooms | 85 | 81 | -4.7% |
Summary: The Lakeland housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 10.9%, 3 bedroom homes increased by 2.4%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes decreased by 4.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
235 | 283 | +20.4% |
Asking Price vs. Sold Price
162 Homes Were Sold
Under Asking
82 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Summary: A total of 283 homes were sold or pending in Lakeland in March 2024, up by 20.4% month-over-month. Of the 283 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
47 Days | 44 Days | -6.4% |
Summary: Homes in Lakeland had an average of 44 days on market in Mar 2024, down by 6.4% compared to last year.
Breakdown of Home Sale Times
163 Homes Were Sold
Under 30 Days
70 Homes Were Sold
In 30 - 90 Days
50 Homes Were Sold
Over 90 Days
Summary: During March 2024, 283 homes were sold in Lakeland; 58% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.