Is Land O Lakes, 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, Land O Lakes has remained a Seller's Market.
Key Takeaway
Land O Lakes is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Land O Lakes, FL
How much do homes in Land O Lakes, FL cost?
Median Sold Price
$417,696
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Land O Lakes have sold for 7.2% less than they did a year ago.
Summary: The median home sold price in Land O Lakes was $417,696 in May 2024, down 7.2% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $192.4K | N/A |
| 2 Bedrooms | $330K | $332.5K | +0.8% |
| 3 Bedrooms | $383.6K | $388.2K | +1.2% |
| 4 Bedrooms | $515.3K | $505.2K | -2.0% |
| 5+ Bedrooms | $625K | $635K | +1.6% |
Summary: Land O Lakes housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 1.2%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 1.6%.
Median Sold Price Compared To Nearby Cities
| Wesley Chapel | $410.5K | $427.3K | +4.1% |
| Lutz | $480.6K | $491.4K | +2.3% |
| Central Pasco | $411.9K | $419.9K | +2.0% |
| Land O Lakes | $450K | $417.6K | -7.2% |
Housing Supply in Land O Lakes, FL
How many homes are available in Land O Lakes, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 590 | 585 | -0.8% |
Summary: The Land O Lakes real estate market had 585 homes for sale in May 2024, a 0.8% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 115 | 99 | -13.9% |
| 3 Bedrooms | 239 | 221 | -7.5% |
| 4 Bedrooms | 147 | 158 | +7.5% |
| 5+ Bedrooms | 87 | 105 | +20.7% |
Summary: The Land O Lakes 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 decreased by 13.9%, 3 bedroom homes decreased by 7.5%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 20.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 131 | 163 | +24.4% |
Asking Price vs. Sold Price
61 Homes Were Sold
Under Asking
79 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Land O Lakes, expect to pay close to the asking price. 48.5% of homes here sold near the asking price last month.
Summary: A total of 163 homes were sold or pending in Land O Lakes in May 2024, up by 24.4% month-over-month. Of the 163 sold homes, 37% were sold under asking, 48% were sold at asking, and 14% were sold over asking.
Days on Market for Land O Lakes, FL
How long does it take to sell a home in Land O Lakes, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 29 Days | 38 Days | +31.2% |
Summary: Homes in Land O Lakes had an average of 38 days on market in May 2024, up by 31.2% compared to last year.
Breakdown of Home Sale Times
92 Homes Were Sold
Under 30 Days
55 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Land O Lakes are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 163 homes were sold in Land O Lakes; 56% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
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