Is Lakeland, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lakeland is a seller's market

Buyer's
Market

Difference Since May 2021

Since last year, 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.

How much do homes in Lakeland, TN cost?

Median Sold Price

$417,750

-

Based on all homes sold in the last 12 months.

Difference Since May 2021

+$20,325(+5.1%)

Key Takeaway

Homes in Lakeland have sold for 5.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2021May 2022%
1 --
N/A
2 $120K$140.5K
+17.1%
3 $248.1K$270.2K
+8.9%
4 $422.5K$462.5K
+9.5%
5+ $475K$506.9K
+6.7%

Median Sold Price Compared To Nearby Cities

Cordova
+21.3%
Bartlett
+19.2%
Memphis
+12.9%
Arlington
+7.0%
Lakeland
+5.1%

How many homes are available in Lakeland, TN?

Number of Homes For Sale

Apr 2022May 2022%
7382+12.3%

Homes For Sale By Bedroom Count

# BEDSApr 2022May 2022%
1 00
0.0%
2 02
+100.0%
3 1820
+11.1%
4 3433
-2.9%
5+ 2127
+28.6%

Number of Homes Sold

Apr 2022May 2022%
1727+58.8%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

6 Homes Were Sold
At Asking

20 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lakeland, you could pay more than the asking price. 74.1% of homes here sold above asking price last month.

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

About Lakeland, TN

There are 82 homes are for sale in Lakeland, TN real estate market. The number of listings in Lakeland, TN increased by 12.3% between April 2022 and May 2022. Between April 2022 and May 2022, listing prices of homes in this real estate market have seen the following changes: prices of 1 bedroom properties went up by 0%, 2 bedrooms properties prices increased by 17.1%, prices of 3 bedrooms properties went up by 8.9%, 4 bedrooms properties prices increased by 9.5%, prices of 5 bedrooms properties went up by 6.7%. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes inventory did not change, volume of 2 bedrooms homes went up by 100%, number of 3 bedrooms homes increased by 11.1%, number of 4 bedrooms homes decreased by 2.9%, volume of 5 bedrooms homes went up by 28.6%. In May 2022 more than 20 listings in Lakeland, TN were sold above the asking price. During the same period more than 6 listings were sold at asking price, while more than 1 were sold below.

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