Is Lakeland, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Lakeland has remained a Seller's Market.
Key Takeaway
Lakeland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lakeland, TN
How much do homes in Lakeland, TN cost?
Median Sold Price
$537,499
-
Based on all homes sold in November 2023.
Difference Since Last Month
Key Takeaway
Homes in Lakeland have sold for 2.7% more than they did a month ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $337.4K | - | N/A |
| 4 Bedrooms | $420K | $415K | -1.2% |
| 5+ Bedrooms | $585K | $602.5K | +3.0% |
Summary: Lakeland housing prices by bedroom type for November 2023 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes increased by 3%.
Housing Supply in Lakeland, TN
How many homes are available in Lakeland, TN?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 79 | 73 | -7.6% |
Summary: The Lakeland real estate market had 73 homes for sale in November 2023, a 7.6% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 11 | 10 | -9.1% |
| 4 Bedrooms | 34 | 34 | 0.0% |
| 5+ Bedrooms | 34 | 29 | -14.7% |
Summary: The Lakeland housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 9.1%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 14.7%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 16 | 14 | -12.5% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lakeland, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Lakeland in November 2023, down by 12.5% month-over-month. Of the 14 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
