Is Lakelands, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Lakelands has remained a Seller's Market.
Key Takeaway
Lakelands is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lakelands, MD
How much do homes in Lakelands, MD cost?
Median Sold Price
$739,944
$310/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lakelands have sold for 1.4% more than they did a year ago.
Summary: The median home sold price in Lakelands was $739,944 in April 2024, up 1.4% from last year, and the median price per square foot was $310.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $515K | $495K | -3.9% |
| 3 Bedrooms | $701K | $730K | +4.1% |
| 4 Bedrooms | $962.5K | $841K | -12.6% |
| 5+ Bedrooms | $1.2M | $1.1M | -10.9% |
Summary: Lakelands housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.9%, 3 bedroom homes increased by 4.1%, 4 bedroom homes decreased by 12.6%, and 5+ bedroom homes decreased by 10.9%.
Housing Supply in Lakelands, MD
How many homes are available in Lakelands, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Summary: The Lakelands real estate market had 5 homes for sale in April 2024, a 28.6% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 1 | 1 | 0.0% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Lakelands housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lakelands, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in Lakelands in April 2024, down by 50.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Lakelands, MD
How long does it take to sell a home in Lakelands, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 38 Days | 6 Days | -84.5% |
Summary: Homes in Lakelands had an average of 6 days on market in Apr 2024, down by 84.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lakelands are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in Lakelands; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
