Is Lake Mary, 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 Mary has remained a Seller's Market.
Housing Prices in Lake Mary, FL
How much do homes in Lake Mary, FL cost?
Median Sold Price
$470,000
$244/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lake Mary was $470,000 in May 2024, down 2.1% from last year, and the median price per square foot was $244.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $167K | $165K | -1.2% |
2 Bedrooms | $264K | $260K | -1.5% |
3 Bedrooms | $435K | $430K | -1.1% |
4 Bedrooms | $553K | $625K | +13.0% |
5+ Bedrooms | $904K | $950K | +5.1% |
Summary: Lake Mary housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.2%, 2 bedroom homes decreased by 1.5%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 5.1%.
Median Sold Price Compared To Nearby Cities
Sanford | $334.9K | $363.3K | +8.5% |
Casselberry-Altamonte Springs | $355.2K | $368.2K | +3.7% |
Lake Mary | $480K | $470K | -2.1% |
Housing Supply in Lake Mary, FL
How many homes are available in Lake Mary, FL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
228 | 263 | +15.4% |
Summary: The Lake Mary real estate market had 263 homes for sale in May 2024, a 15.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 15 | 20 | +33.3% |
2 Bedrooms | 29 | 38 | +31.0% |
3 Bedrooms | 74 | 86 | +16.2% |
4 Bedrooms | 85 | 96 | +12.9% |
5+ Bedrooms | 25 | 23 | -8.0% |
Summary: The Lake Mary housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 31%, 3 bedroom homes increased by 16.2%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes decreased by 8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
48 | 59 | +22.9% |
Asking Price vs. Sold Price
33 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 59 homes were sold or pending in Lake Mary in May 2024, up by 22.9% month-over-month. Of the 59 sold homes, 56% were sold under asking, 31% were sold at asking, and 14% were sold over asking.
Days on Market for Lake Mary, FL
How long does it take to sell a home in Lake Mary, FL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
23 Days | 38 Days | +66.1% |
Summary: Homes in Lake Mary had an average of 38 days on market in May 2024, up by 66.1% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 59 homes were sold in Lake Mary; 56% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.