Is Lakeland, 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, Lakeland has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $128.7K | $128.7K | 0.0% |
2 Bedrooms | $218.4K | $220K | +0.7% |
3 Bedrooms | $299.9K | $300K | 0.0% |
4 Bedrooms | $392.6K | $385.1K | -1.9% |
5+ Bedrooms | $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 | $333.9K | $364.9K | +9.3% |
Lakeland | $309.4K | $313.4K | +1.3% |
Polk City | $325K | $303K | -6.8% |
Housing Supply in Lakeland, FL
How many homes are available in Lakeland, FL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1,317 | 1,311 | -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
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 10 | +150.0% |
2 Bedrooms | 231 | 226 | -2.2% |
3 Bedrooms | 651 | 630 | -3.2% |
4 Bedrooms | 352 | 367 | +4.3% |
5+ Bedrooms | 79 | 78 | -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 2024 | Apr 2024 | CHANGE |
---|---|---|
297 | 279 | -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
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 2023 | Apr 2024 | CHANGE |
---|---|---|
41 Days | 46 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
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.