Lakeland Property Sales Overview
The median property value in Lakeland for December is $380,752.
Houses have increased by 1.27% for the month and decreased 0% for the year.
Rental demand is up with yields increasing in February to 6.86%, from 6.69% in January.
The number of properties sold this quarter is down on last quarter from 1 to 0. This is down on the 5 year quarterly average of 2 indicating weaker demand.
What's the median House price in Lakeland in December 2021?
The median property value for houses in Lakeland is $380,752.
This is an increase of 1.27% ($375,979) from last month.
How much does it cost to rent a House in Lakeland?
Rent prices in Lakeland are the highest they've been in 12 months at $508.
This is up 9.72% from a 12 month low of $463 in March 2021 and a 1.20% up from last month.
What's the current rental yield in Lakeland?
Rental yields for houses in Lakeland is 6.86%.
This is up from a 12 month low of 6.33% in April 2021 and down from a 12 month high of 7.05% in October 2021.
How many properties sold in Lakeland in February?
Total sales volume in Lakeland is 0, which is down from 1 in the previous quarter.
This is the same as the weakest quarter in the last 5 years which was Q1 2021 with 0 sales and -1.00% weaker than the strongest quarter in the past 5 years which saw 1 sales in Q3 2021.
How long did it take to sell a property in Lakeland in February?
39 days is the average time on market in Lakeland in December, which is the same from 39 in November and has been trending down since October 2021.
This can indicate a buyers market where sellers are finding it harder to make a sale.
Are properties selling below or above the listing price in Lakeland?
December sees the vendor expectation error for Lakeland at -1.9% which means, on average, places sold for -1.9% less than the listing price.
This is a great sign for buyers looking to negotiate.
It’s worth noting that in a hot market you might want to set your price expectations even higher than the -1.9% as things can move pretty quickly.