$3,054 Closing Credit*
$257,200
1,280 SqFt
3 Beds
•2 Full Baths
Donny Stokes, Listing Office: FLORIDA REALTY INVESTMENTS
Is Lake Panasoffkee, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Lake Panasoffkee was a Neutral Market.
Key Takeaway
Lake Panasoffkee is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Panasoffkee, FL
How much do homes in Lake Panasoffkee, FL cost?
Median Sold Price
$210,000
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$42,750(+25.6%)
Key Takeaway
Homes in Lake Panasoffkee have sold for 25.6% more than they did a year ago.
Summary: The median home sold price in Lake Panasoffkee was $210,000 in November 2024, up 25.6% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80K | $100K | +25.0% |
| 2 Bedrooms | $143.7K | $159K | +10.6% |
| 3 Bedrooms | $235K | $228.5K | -2.8% |
| 4 Bedrooms | $187.5K | $250K | +33.3% |
| 5+ Bedrooms | - | $340K | N/A |
Summary: Lake Panasoffkee housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 10.6%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Lake Panasoffkee | $167.2K | $210K | +25.6% |
| Hernando | $360K | $379.9K | +5.5% |
| Bushnell-Center Hill | $254.9K | $268.4K | +5.3% |
| Sumterville | $410K | $379.9K | -7.3% |
| Floral City | $270K | $250K | -7.4% |
Housing Supply in Lake Panasoffkee, FL
How many homes are available in Lake Panasoffkee, FL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 32 | 29 | -9.4% |
Summary: The Lake Panasoffkee real estate market had 29 homes for sale in November 2024, a 9.4% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 12 | 11 | -8.3% |
| 3 Bedrooms | 14 | 12 | -14.3% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Lake Panasoffkee housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 8.3%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Panasoffkee, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Lake Panasoffkee in November 2024, down by 28.6% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Lake Panasoffkee, FL
How long does it take to sell a home in Lake Panasoffkee, FL?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 24 Days | 47 Days | +93.2% |
Summary: Homes in Lake Panasoffkee had an average of 47 days on market in Nov 2024, up by 93.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lake Panasoffkee has remained consistent over time.
Summary: During November 2024, 5 homes were sold in Lake Panasoffkee; 20% of homes were sold within 30 days, 80% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
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