Is Lake County, CA 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 County was a Seller's Market.
Key Takeaway
Lake County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lake County, CA
How much do homes in Lake County, CA cost?
Median Sold Price
$330,000
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lake County have sold for 5.7% less than they did a year ago.
Summary: The median home sold price in Lake County was $330,000 in May 2024, down 5.7% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155K | $177.5K | +14.5% |
| 2 Bedrooms | $259.9K | $270K | +3.8% |
| 3 Bedrooms | $373.7K | $350K | -6.4% |
| 4 Bedrooms | $455K | $472K | +3.7% |
| 5+ Bedrooms | $572.5K | $550K | -3.9% |
Summary: Lake County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.5%, 2 bedroom homes increased by 3.8%, 3 bedroom homes decreased by 6.4%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes decreased by 3.9%.
Median Sold Price Compared To Nearby Counties
| Glenn County | $335K | $349K | +4.2% |
| Sonoma County | $788.3K | $799.9K | +1.5% |
| Mendocino County | $540.3K | $533.1K | -1.3% |
| Lake County | $349.7K | $330K | -5.7% |
Housing Supply in Lake County, CA
How many homes are available in Lake County, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 540 | 585 | +8.3% |
Summary: The Lake County real estate market had 585 homes for sale in May 2024, a 8.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 20 | 21 | +5.0% |
| 2 Bedrooms | 135 | 150 | +11.1% |
| 3 Bedrooms | 283 | 302 | +6.7% |
| 4 Bedrooms | 64 | 74 | +15.6% |
| 5+ Bedrooms | 38 | 38 | 0.0% |
Summary: The Lake County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 15.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 82 | 79 | -3.7% |
Asking Price vs. Sold Price
50 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake County, you may be able to get a good deal. 63.3% of homes here sold below asking price last month.
Summary: A total of 79 homes were sold or pending in Lake County in May 2024, down by 3.7% month-over-month. Of the 79 sold homes, 63% were sold under asking, 19% were sold at asking, and 18% were sold over asking.
Days on Market for Lake County, CA
How long does it take to sell a home in Lake County, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 77 Days | 77 Days | +0.6% |
Summary: Homes in Lake County had an average of 77 days on market in May 2024, up by 0.6% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
17 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 79 homes were sold in Lake County; 35% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
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Listings on this page identified as belonging to another listing firm are based upon data obtained from the SFAR MLS, which data is copyrighted by the San Francisco Association of REALTORS©, but is not warranted. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing Broker has attempted to offer accurate data, but buyers are advised to confirm all data provided. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.