Is Land O Lakes, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Land O Lakes is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Land O Lakes has remained a Seller's Market.

Key Takeaway

Land O Lakes is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Land O Lakes, FL

How much do homes in Land O Lakes, FL cost?

Median Sold Price

$417,696

$213/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$32,303(-7.2%)

Key Takeaway

Homes in Land O Lakes have sold for 7.2% less than they did a year ago.

Summary: The median home sold price in Land O Lakes was $417,696 in May 2024, down 7.2% from last year, and the median price per square foot was $213.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$192.4K
N/A
2 $330K$332.5K
+0.8%
3 $383.6K$388.2K
+1.2%
4 $515.3K$505.2K
-2.0%
5+ $625K$635K
+1.6%

Summary: Land O Lakes housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 1.2%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 1.6%.

Median Sold Price Compared To Nearby Cities

Wesley Chapel
+4.1%
Lutz
+2.3%
Central Pasco
+2.0%
Land O Lakes
-7.2%

Housing Supply in Land O Lakes, FL

How many homes are available in Land O Lakes, FL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
590585-0.8%

Summary: The Land O Lakes real estate market had 585 homes for sale in May 2024, a 0.8% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 22
0.0%
2 11599
-13.9%
3 239221
-7.5%
4 147158
+7.5%
5+ 87105
+20.7%

Summary: The Land O Lakes housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 13.9%, 3 bedroom homes decreased by 7.5%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 20.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
131163+24.4%

Asking Price vs. Sold Price

61 Homes Were Sold
Under Asking

79 Homes Were Sold
At Asking

23 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Land O Lakes, expect to pay close to the asking price. 48.5% of homes here sold near the asking price last month.

Summary: A total of 163 homes were sold or pending in Land O Lakes in May 2024, up by 24.4% month-over-month. Of the 163 sold homes, 37% were sold under asking, 48% were sold at asking, and 14% were sold over asking.

Days on Market for Land O Lakes, FL

How long does it take to sell a home in Land O Lakes, FL?

Average Sale Time

May 2023May 2024CHANGE
29 Days38 Days+31.2%

Summary: Homes in Land O Lakes had an average of 38 days on market in May 2024, up by 31.2% compared to last year.

Breakdown of Home Sale Times

92 Homes Were Sold
Under 30 Days

55 Homes Were Sold
In 30 - 90 Days

16 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Land O Lakes are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 163 homes were sold in Land O Lakes; 56% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 23 Days Ago

Newest Listings in Land O Lakes, FL

Nearby Markets to Land O Lakes, FL

What housing markets are near Land O Lakes, FL?