Is Lakeland, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 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
$310,933
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Lakeland was $310,933 in February 2024, up 1.5% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $121.2K | $135K | +11.4% |
2 Bedrooms | $223.2K | $218.3K | -2.2% |
3 Bedrooms | $299.9K | $299.9K | 0.0% |
4 Bedrooms | $390K | $385K | -1.3% |
5+ Bedrooms | $442.5K | $468K | +5.8% |
Summary: Lakeland housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.4%, 2 bedroom homes decreased by 2.2%, 3 bedroom homes did not change, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes increased by 5.8%.
Median Sold Price Compared To Nearby Cities
Plant City | $328.4K | $361K | +9.9% |
Lakeland | $306.3K | $310.9K | +1.5% |
Polk City | $327K | $320K | -2.1% |
Housing Supply in Lakeland, FL
How many homes are available in Lakeland, FL?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
1,188 | 1,265 | +6.5% |
Summary: The Lakeland real estate market had 1,265 homes for sale in February 2024, a 6.5% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 5 | 0.0% |
2 Bedrooms | 210 | 213 | +1.4% |
3 Bedrooms | 584 | 614 | +5.1% |
4 Bedrooms | 319 | 347 | +8.8% |
5+ Bedrooms | 70 | 86 | +22.9% |
Summary: The Lakeland housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 1.4%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 8.8%, and 5+ bedroom homes increased by 22.9%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
220 | 221 | 0.5% |
Asking Price vs. Sold Price
125 Homes Were Sold
Under Asking
51 Homes Were Sold
At Asking
45 Homes Were Sold
Over Asking
Summary: A total of 221 homes were sold or pending in Lakeland in February 2024, up by 0.5% month-over-month. Of the 221 sold homes, 57% were sold under asking, 23% were sold at asking, and 20% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
47 Days | 44 Days | -6.4% |
Summary: Homes in Lakeland had an average of 44 days on market in Feb 2024, down by 6.4% compared to last year.
Breakdown of Home Sale Times
116 Homes Were Sold
Under 30 Days
69 Homes Were Sold
In 30 - 90 Days
36 Homes Were Sold
Over 90 Days
Summary: During February 2024, 221 homes were sold in Lakeland; 52% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.