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.
Key Takeaway
Lake Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
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
Key Takeaway
Homes in Lake Park have sold for 28.1% more than they did a year ago.
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
Key Takeaway
If you're buying a home in Lake Park, you may be able to get a good deal. 50% of homes here sold below asking price last month.
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
Key Takeaway
Many homes in Lake Park are selling fast, if you're buying plan to act quickly.
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.
All listings featuring the BMLS logo are provided by BeachesMLS, Inc. Copyright 2024 BeachesMLS, Inc. 
© 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing 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. This property is offered without respect to any protected classes in accordance with the law.