Is Lake Panasoffkee, FL 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, Lake Panasoffkee has remained a Seller's Market.
Housing Prices in Lake Panasoffkee, FL
How much do homes in Lake Panasoffkee, FL cost?
Median Sold Price
$157,000
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lake Panasoffkee was $157,000 in April 2024, down 37.2% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $90K | $80K | -11.1% |
2 Bedrooms | $189.9K | $138.5K | -27.1% |
3 Bedrooms | $270K | $205K | -24.1% |
4 Bedrooms | $270K | $250K | -7.4% |
5+ Bedrooms | - | $255K | N/A |
Summary: Lake Panasoffkee housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.1%, 2 bedroom homes decreased by 27.1%, 3 bedroom homes decreased by 24.1%, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Sumterville | $347.5K | $400K | +15.1% |
Floral City | $274.9K | $260K | -5.4% |
Bushnell-Center Hill | $275K | $245K | -10.9% |
Hernando | $383K | $330K | -13.8% |
Lake Panasoffkee | $250K | $157K | -37.2% |
Housing Supply in Lake Panasoffkee, FL
How many homes are available in Lake Panasoffkee, FL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
30 | 28 | -6.7% |
Summary: The Lake Panasoffkee real estate market had 28 homes for sale in April 2024, a 6.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 0 | -100.0% |
2 Bedrooms | 12 | 9 | -25.0% |
3 Bedrooms | 9 | 12 | +33.3% |
4 Bedrooms | 1 | 1 | 0.0% |
5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Lake Panasoffkee housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5 | 5 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Lake Panasoffkee in April 2024, the same as the previous month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.
Days on Market for Lake Panasoffkee, FL
How long does it take to sell a home in Lake Panasoffkee, FL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
51 Days | 177 Days | +248.2% |
Summary: Homes in Lake Panasoffkee had an average of 177 days on market in Apr 2024, up by 248.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 5 homes were sold in Lake Panasoffkee; 20% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 80% of homes were sold over 90 days.