Is Lakeland, FL 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 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, FL

How much do homes in Lakeland, FL cost?

Median Sold Price

$313,410

$193/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$3,960(+1.3%)

Key Takeaway

Homes in Lakeland have sold for 1.3% more than they did a year ago.

Summary: The median home sold price in Lakeland was $313,410 in April 2024, up 1.3% from last year, and the median price per square foot was $193.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $128.7K$128.7K
0.0%
2 $218.4K$220K
+0.7%
3 $299.9K$300K
0.0%
4 $392.6K$385.1K
-1.9%
5+ $427.9K$499K
+16.6%

Summary: Lakeland housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.7%, 3 bedroom homes did not change, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes increased by 16.6%.

Median Sold Price Compared To Nearby Cities

Plant City
+9.3%
Lakeland
+1.3%
Polk City
-6.8%

Housing Supply in Lakeland, FL

How many homes are available in Lakeland, FL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
1,3171,311-0.5%

Summary: The Lakeland real estate market had 1,311 homes for sale in April 2024, a 0.5% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 410
+150.0%
2 231226
-2.2%
3 651630
-3.2%
4 352367
+4.3%
5+ 7978
-1.3%

Summary: The Lakeland housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 150%, 2 bedroom homes decreased by 2.2%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes decreased by 1.3%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
297279-6.1%

Asking Price vs. Sold Price

152 Homes Were Sold
Under Asking

89 Homes Were Sold
At Asking

38 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lakeland, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.

Summary: A total of 279 homes were sold or pending in Lakeland in April 2024, down by 6.1% month-over-month. Of the 279 sold homes, 54% were sold under asking, 32% were sold at asking, and 14% were sold over asking.

Days on Market for Lakeland, FL

How long does it take to sell a home in Lakeland, FL?

Average Sale Time

Apr 2023Apr 2024CHANGE
41 Days46 Days+12.4%

Summary: Homes in Lakeland had an average of 46 days on market in Apr 2024, up by 12.4% compared to last year.

Breakdown of Home Sale Times

153 Homes Were Sold
Under 30 Days

79 Homes Were Sold
In 30 - 90 Days

47 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lakeland are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 279 homes were sold in Lakeland; 55% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.

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

Report Updated 4 Days Ago

Newest Listings in Lakeland, FL

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