Is Lakeland, WA 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, Lakeland was a Seller's Market.
Housing Prices in Lakeland, WA
How much do homes in Lakeland, WA cost?
Median Sold Price
$595,000
$311/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lakeland was $595,000 in May 2024, down 3.3% from last year, and the median price per square foot was $311.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $283.5K | $315K | +11.1% |
2 Bedrooms | $385K | $395K | +2.6% |
3 Bedrooms | $575K | $580K | +0.9% |
4 Bedrooms | $662.5K | $665K | 0.4% |
5+ Bedrooms | $765K | $829.5K | +8.4% |
Summary: Lakeland housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 8.4%.
Housing Supply in Lakeland, WA
How many homes are available in Lakeland, WA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
69 | 92 | +33.3% |
Summary: The Lakeland real estate market had 92 homes for sale in May 2024, a 33.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 24 | 24 | 0.0% |
3 Bedrooms | 18 | 25 | +38.9% |
4 Bedrooms | 19 | 33 | +73.7% |
5+ Bedrooms | 7 | 10 | +42.9% |
Summary: The Lakeland housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 38.9%, 4 bedroom homes increased by 73.7%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
21 | 14 | -33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in Lakeland in May 2024, down by 33.3% month-over-month. Of the 14 sold homes, 21% were sold under asking, 43% were sold at asking, and 36% were sold over asking.
Days on Market for Lakeland, WA
How long does it take to sell a home in Lakeland, WA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
32 Days | 34 Days | +6.1% |
Summary: Homes in Lakeland had an average of 34 days on market in May 2024, up by 6.1% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 14 homes were sold in Lakeland; 79% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.