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 Neutral Market.
Key Takeaway
Lakeland is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Lakeland, TN
How much do homes in Lakeland, TN cost?
Median Sold Price
$439,625
-
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Lakeland have sold for 44.1% more than they did a month ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $297.5K | $359K | +20.7% |
| 4 Bedrooms | $580K | $444.5K | -23.3% |
| 5+ Bedrooms | $240K | $589.9K | +145.8% |
Summary: Lakeland housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 20.7%, 4 bedroom homes decreased by 23.3%, and 5+ bedroom homes increased by 145.8%.
Housing Supply in Lakeland, TN
How many homes are available in Lakeland, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 68 | 82 | +20.6% |
Summary: The Lakeland real estate market had 82 homes for sale in March 2024, a 20.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 11 | 12 | +9.1% |
| 4 Bedrooms | 31 | 38 | +22.6% |
| 5+ Bedrooms | 26 | 32 | +23.1% |
Summary: The Lakeland housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 22.6%, and 5+ bedroom homes increased by 23.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 12 | +9.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lakeland, expect to pay close to the asking price. 41.7% of homes here sold near the asking price last month.
Summary: A total of 12 homes were sold or pending in Lakeland in March 2024, up by 9.1% month-over-month. Of the 12 sold homes, 25% were sold under asking, 42% were sold at asking, and 33% were sold over asking.
Days on Market for Lakeland, TN
We’re sorry, we don't have information for this market at the moment
