Is Lake Butler, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Lake Butler was a Seller's Market.
Key Takeaway
Lake Butler is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lake Butler, FL
How much do homes in Lake Butler, FL cost?
Median Sold Price
$280,000
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lake Butler have sold for 12% more than they did a year ago.
Summary: The median home sold price in Lake Butler was $280,000 in May 2024, up 12% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $249.9K | $165K | -34.0% |
| 3 Bedrooms | $240K | $283.5K | +18.1% |
| 4 Bedrooms | $399K | $281K | -29.6% |
| 5+ Bedrooms | $372K | $682.5K | +83.5% |
Summary: Lake Butler 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 decreased by 34%, 3 bedroom homes increased by 18.1%, 4 bedroom homes decreased by 29.6%, and 5+ bedroom homes increased by 83.5%.
Housing Supply in Lake Butler, FL
How many homes are available in Lake Butler, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 27 | 25 | -7.4% |
Summary: The Lake Butler real estate market had 25 homes for sale in May 2024, a 7.4% decrease 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 | 4 | 1 | -75.0% |
| 3 Bedrooms | 18 | 16 | -11.1% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Lake Butler 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 decreased by 75%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 3 | -62.5% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Butler, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in Lake Butler in May 2024, down by 62.5% month-over-month. Of the 3 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Lake Butler, FL
How long does it take to sell a home in Lake Butler, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 26 Days | 50 Days | +91.3% |
Summary: Homes in Lake Butler had an average of 50 days on market in May 2024, up by 91.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lake Butler has remained consistent over time.
Summary: During May 2024, 3 homes were sold in Lake Butler; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
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