Is Lakeland, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Lakeland was a Buyer's Market.
Key Takeaway
Lakeland is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Lakeland, TN
How much do homes in Lakeland, TN cost?
Median Sold Price
$475,000
-
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lakeland have sold for 2.1% less than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $176K | $140K | -20.5% |
| 3 Bedrooms | $324K | $307K | -5.2% |
| 4 Bedrooms | $475K | $487.5K | +2.6% |
| 5+ Bedrooms | $638.5K | $587.4K | -8.0% |
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 decreased by 20.5%, 3 bedroom homes decreased by 5.2%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes decreased by 8%.
Housing Supply in Lakeland, TN
How many homes are available in Lakeland, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 80 | 103 | +28.7% |
Summary: The Lakeland real estate market had 103 homes for sale in April 2024, a 28.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 12 | 20 | +66.7% |
| 4 Bedrooms | 39 | 48 | +23.1% |
| 5+ Bedrooms | 29 | 34 | +17.2% |
Summary: The Lakeland housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 66.7%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes increased by 17.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 17 | +21.4% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lakeland, you may be able to get a good deal. 52.9% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Lakeland in April 2024, up by 21.4% month-over-month. Of the 17 sold homes, 53% were sold under asking, 41% were sold at asking, and 6% were sold over asking.
Days on Market for Lakeland, TN
We’re sorry, we don't have information for this market at the moment
