Is Lake City, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Lake City has remained a Seller's Market.
Housing Prices in Lake City, TN
How much do homes in Lake City, TN cost?
Median Sold Price
$191,000
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lake City was $191,000 in April 2024, up 14% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $94K | $245K | +160.6% |
2 Bedrooms | $120K | $153K | +27.5% |
3 Bedrooms | $178K | $215K | +20.8% |
4 Bedrooms | $256K | $279.9K | +9.3% |
5+ Bedrooms | $70K | - | N/A |
Summary: Lake City housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 160.6%, 2 bedroom homes increased by 27.5%, 3 bedroom homes increased by 20.8%, 4 bedroom homes increased by 9.3%, 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
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 10 | +25.0% |
Summary: The Lake City real estate market had 10 homes for sale in April 2024, a 25.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 4 | 3 | -25.0% |
3 Bedrooms | 4 | 6 | +50.0% |
4 Bedrooms | 0 | 0 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Lake City housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1 | 2 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Lake City in April 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
15 Days | 3 Days | -76.7% |
Summary: Homes in Lake City had an average of 3 days on market in Apr 2024, down by 76.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 2 homes were sold in Lake City; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.