$2,077 Closing Credit*
$174,900
831 SqFt
2 Beds
•2 Full Baths
Jason Price, Listing Office: ROBERT SLACK LLC
Is Lakeland, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Lakeland was a Seller's Market.
Key Takeaway
Lakeland is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lakeland, FL
How much do homes in Lakeland, FL cost?
Median Sold Price
$316,270
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$3,578(+1.1%)
Key Takeaway
Homes in Lakeland have sold for 1.1% more than they did a year ago.
Summary: The median home sold price in Lakeland was $316,270 in October 2024, up 1.1% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $128.7K | $124.4K | -3.3% |
| 2 Bedrooms | $220K | $220.5K | 0.2% |
| 3 Bedrooms | $299.9K | $305K | +1.7% |
| 4 Bedrooms | $390K | $385K | -1.3% |
| 5+ Bedrooms | $440.2K | $481K | +9.3% |
Summary: Lakeland housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.3%, 2 bedroom homes increased by 0.2%, 3 bedroom homes increased by 1.7%, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes increased by 9.3%.
Median Sold Price Compared To Nearby Cities
| Plant City | $344.9K | $354.9K | +2.9% |
| Lakeland | $312.6K | $316.2K | +1.1% |
| Polk City | $327.5K | $325K | -0.8% |
Housing Supply in Lakeland, FL
How many homes are available in Lakeland, FL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1,285 | 1,272 | -1.0% |
Summary: The Lakeland real estate market had 1,272 homes for sale in October 2024, a 1.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 10 | 0.0% |
| 2 Bedrooms | 213 | 213 | 0.0% |
| 3 Bedrooms | 636 | 625 | -1.7% |
| 4 Bedrooms | 341 | 346 | +1.5% |
| 5+ Bedrooms | 85 | 78 | -8.2% |
Summary: The Lakeland housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 1.7%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes decreased by 8.2%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 206 | 171 | -17.0% |
Asking Price vs. Sold Price
117 Homes Were Sold
Under Asking
36 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lakeland, you may be able to get a good deal. 68.4% of homes here sold below asking price last month.
Summary: A total of 171 homes were sold or pending in Lakeland in October 2024, down by 17.0% month-over-month. Of the 171 sold homes, 68% were sold under asking, 21% were sold at asking, and 11% were sold over asking.
Days on Market for Lakeland, FL
How long does it take to sell a home in Lakeland, FL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 29 Days | 50 Days | +70.1% |
Summary: Homes in Lakeland had an average of 50 days on market in Oct 2024, up by 70.1% compared to last year.
Breakdown of Home Sale Times
77 Homes Were Sold
Under 30 Days
68 Homes Were Sold
In 30 - 90 Days
26 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lakeland are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 171 homes were sold in Lakeland; 45% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
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