Is Lake Park, FL 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 Park was a Seller's Market.
Housing Prices in Lake Park, FL
How much do homes in Lake Park, FL cost?
Median Sold Price
$410,000
$287/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lake Park was $410,000 in May 2024, up 28.1% from last year, and the median price per square foot was $287.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $220.5K | $118.7K | -46.1% |
2 Bedrooms | $280K | $340K | +21.4% |
3 Bedrooms | $375K | $432.9K | +15.5% |
4 Bedrooms | $495K | $537.6K | +8.6% |
5+ Bedrooms | $444K | $613.5K | +38.2% |
Summary: Lake Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 46.1%, 2 bedroom homes increased by 21.4%, 3 bedroom homes increased by 15.5%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 38.2%.
Median Sold Price Compared To Nearby Cities
Lake Park | $320K | $410K | +28.1% |
North Palm Beach | $460K | $551.6K | +19.9% |
Palm Beach Gardens | $638.4K | $709.8K | +11.2% |
Riviera Beach | $405K | $389K | -3.9% |
Housing Supply in Lake Park, FL
How many homes are available in Lake Park, FL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
57 | 70 | +22.8% |
Summary: The Lake Park real estate market had 70 homes for sale in May 2024, a 22.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 6 | 0.0% |
2 Bedrooms | 37 | 48 | +29.7% |
3 Bedrooms | 8 | 9 | +12.5% |
4 Bedrooms | 3 | 4 | +33.3% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Lake Park 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 increased by 29.7%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
8 | 4 | -50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Lake Park in May 2024, down by 50.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Lake Park, FL
How long does it take to sell a home in Lake Park, FL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
57 Days | 20 Days | -64.6% |
Summary: Homes in Lake Park had an average of 20 days on market in May 2024, down by 64.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 4 homes were sold in Lake Park; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.