Is Lakeland Park, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lakeland Park has remained a Seller's Market.
Key Takeaway
Lakeland Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lakeland Park, NC
How much do homes in Lakeland Park, NC cost?
Median Sold Price
$205,000
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lakeland Park have sold for 24.8% less than they did a year ago.
Summary: The median home sold price in Lakeland Park was $205,000 in May 2024, down 24.8% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110K | - | N/A |
| 2 Bedrooms | $160K | $175K | +9.4% |
| 3 Bedrooms | $320.7K | $312.4K | -2.6% |
| 4 Bedrooms | $300K | $376.5K | +25.5% |
| 5+ Bedrooms | $1.0M | - | N/A |
Summary: Lakeland Park 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 9.4%, 3 bedroom homes decreased by 2.6%, 4 bedroom homes increased by 25.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Lake Hickory Area | $360K | $411.1K | +14.2% |
| Forest Hills | $210K | $237.5K | +13.1% |
| Lakeland Park | $272.5K | $205K | -24.8% |
Housing Supply in Lakeland Park, NC
How many homes are available in Lakeland Park, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Summary: The Lakeland Park real estate market had 7 homes for sale in May 2024, a 16.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Lakeland Park 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 0 | 4 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lakeland Park, expect to pay close to the asking price. 75% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Lakeland Park in May 2024, up by 100.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 75% were sold at asking, and 0% were sold over asking.
Days on Market for Lakeland Park, NC
How long does it take to sell a home in Lakeland Park, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 1 Day | 94 Days | +9300.0% |
Summary: Homes in Lakeland Park had an average of 94 days on market in May 2024, up by 9300% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Lakeland Park are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 4 homes were sold in Lakeland Park; 25% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 75% of homes were sold over 90 days.
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