According to Rocket Homes, Lakeland’s housing market is overall classified as a “seller’s market” as of April 2024, meaning home prices tend to be higher and properties usually sell faster. This tracks with last year’s data, as Lakeland was also classified as a “seller’s market” in April 2023.
The median sale price of homes in Lakeland is $313,410 — nearly $4,000 more than last year. However, out of the 279 homes sold in April 2024, more than 50% were sold for under the asking price. Properties are also moving quickly, with 55% of homes sold in 30 days or less.
Lakeland’s build-to-rent housing market is booming, too. A new study ranked Swan City as a top emerging market in the US. Nearly 500 homes intended for long-term renters were built around the city from 2019 to 2023, and another 317 are in progress now.