Is Lake City, GA 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, Lake City was a Seller's Market.
Housing Prices in Lake City, GA
How much do homes in Lake City, GA cost?
Median Sold Price
$235,000
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lake City was $235,000 in May 2024, up 13.5% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $118K | $158K | +33.9% |
3 Bedrooms | $206K | $235K | +14.1% |
4 Bedrooms | $265K | $235K | -11.3% |
5+ Bedrooms | $305.9K | $330K | +7.9% |
Summary: Lake City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 33.9%, 3 bedroom homes increased by 14.1%, 4 bedroom homes decreased by 11.3%, and 5+ bedroom homes increased by 7.9%.
Median Sold Price Compared To Nearby Cities
Lake City | $207K | $235K | +13.5% |
Forest Park | $190K | $198.9K | +4.7% |
Forest Park-Morrow | $232.6K | $230K | -1.1% |
Housing Supply in Lake City, GA
How many homes are available in Lake City, GA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
8 | 10 | +25.0% |
Summary: The Lake City real estate market had 10 homes for sale in May 2024, a 25.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 5 | +66.7% |
3 Bedrooms | 1 | 1 | 0.0% |
4 Bedrooms | 2 | 2 | 0.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Lake City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1 | 1 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Lake City in May 2024, the same as the previous month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Lake City, GA
How long does it take to sell a home in Lake City, GA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
14 Days | 196 Days | +1300.0% |
Summary: Homes in Lake City had an average of 196 days on market in May 2024, up by 1300% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 1 homes were sold in Lake City; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.