Is Lake Panasoffkee, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lake Panasoffkee has remained a Seller's Market.
Housing Prices in Lake Panasoffkee, FL
How much do homes in Lake Panasoffkee, FL cost?
Median Sold Price
$159,000
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lake Panasoffkee was $159,000 in May 2024, down 35.1% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $115K | $65K | -43.5% |
2 Bedrooms | $175K | $158.8K | -9.2% |
3 Bedrooms | $264K | $205K | -22.3% |
4 Bedrooms | $270K | $250K | -7.4% |
5+ Bedrooms | - | $340K | N/A |
Summary: Lake Panasoffkee housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 43.5%, 2 bedroom homes decreased by 9.2%, 3 bedroom homes decreased by 22.3%, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Sumterville | $360K | $400K | +11.1% |
Hernando | $346.8K | $335K | -3.4% |
Floral City | $285K | $259K | -9.1% |
Bushnell-Center Hill | $274.9K | $249.4K | -9.2% |
Lake Panasoffkee | $245K | $159K | -35.1% |
Housing Supply in Lake Panasoffkee, FL
How many homes are available in Lake Panasoffkee, FL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
21 | 22 | +4.8% |
Summary: The Lake Panasoffkee real estate market had 22 homes for sale in May 2024, a 4.8% 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 | 4 | 4 | 0.0% |
3 Bedrooms | 11 | 14 | +27.3% |
4 Bedrooms | 1 | 1 | 0.0% |
5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The Lake Panasoffkee 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 remained the same, 3 bedroom homes increased by 27.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5 | 4 | -20.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Lake Panasoffkee in May 2024, down by 20.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
48 Days | 239 Days | +399.0% |
Summary: Homes in Lake Panasoffkee had an average of 239 days on market in May 2024, up by 399% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 4 homes were sold in Lake Panasoffkee; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.