$2,791 Closing Credit*
$235,000
1,484 SqFt
3 Beds
•3 Full Baths
Listing Office: Keller Williams Realty
Is Lake City, TN 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 City was a Seller's Market.
Key Takeaway
Lake City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lake City, TN
How much do homes in Lake City, TN cost?
Median Sold Price
$185,000
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$14,000(+8.2%)
Key Takeaway
Homes in Lake City have sold for 8.2% more than they did a year ago.
Summary: The median home sold price in Lake City was $185,000 in November 2024, up 8.2% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $170K | N/A |
| 2 Bedrooms | $139K | $213.5K | +53.6% |
| 3 Bedrooms | $192.5K | $185K | -3.9% |
| 4 Bedrooms | $262.5K | $137K | -47.8% |
| 5+ Bedrooms | $70K | - | N/A |
Summary: Lake City housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 53.6%, 3 bedroom homes decreased by 3.9%, 4 bedroom homes decreased by 47.8%, and 5+ bedroom homes did not change.
Housing Supply in Lake City, TN
How many homes are available in Lake City, TN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 14 | -12.5% |
Summary: The Lake City real estate market had 14 homes for sale in November 2024, a 12.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Lake City 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 20%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 1 | -66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake City, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Lake City in November 2024, down by 66.7% month-over-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, TN
How long does it take to sell a home in Lake City, TN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 14 Days | 79 Days | +444.8% |
Summary: Homes in Lake City had an average of 79 days on market in Nov 2024, up by 444.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lake City has remained consistent over time.
Summary: During November 2024, 1 homes were sold in Lake City; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. 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. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms.