Is Lakeland, WA 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, 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, WA
How much do homes in Lakeland, WA cost?
Median Sold Price
$599,000
$308/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lakeland have sold for 3.4% less than they did a year ago.
Summary: The median home sold price in Lakeland was $599,000 in April 2024, down 3.4% from last year, and the median price per square foot was $308.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $290K | $315K | +8.6% |
| 2 Bedrooms | $405K | $392.5K | -3.1% |
| 3 Bedrooms | $582K | $585K | 0.5% |
| 4 Bedrooms | $675K | $677.5K | 0.4% |
| 5+ Bedrooms | $772.5K | $815K | +5.5% |
Summary: Lakeland housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.6%, 2 bedroom homes decreased by 3.1%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 5.5%.
Housing Supply in Lakeland, WA
How many homes are available in Lakeland, WA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 52 | 69 | +32.7% |
Summary: The Lakeland real estate market had 69 homes for sale in April 2024, a 32.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 15 | 22 | +46.7% |
| 3 Bedrooms | 12 | 18 | +50.0% |
| 4 Bedrooms | 17 | 20 | +17.6% |
| 5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The Lakeland housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 46.7%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 22 | +22.2% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lakeland, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 22 homes were sold or pending in Lakeland in April 2024, up by 22.2% month-over-month. Of the 22 sold homes, 9% were sold under asking, 50% were sold at asking, and 41% were sold over asking.
Days on Market for Lakeland, WA
How long does it take to sell a home in Lakeland, WA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 15 Days | 12 Days | -20.9% |
Summary: Homes in Lakeland had an average of 12 days on market in Apr 2024, down by 20.9% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lakeland are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 22 homes were sold in Lakeland; 91% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.