Here’s the scoop on Lakeland’s real estate scene right now—friendly, down-to-earth, and backed by real data:

🏡 What’s happening in Lakeland — right now?

Home prices

• Redfin reports a median sale price of $310,000, just shy—down 0.16% from last year. Homes sit for around 63 days on average.

• Bankrate found January’s median price was $309K, up 3% from a year earlier, with inventory rising.

• Zillow puts the Zillow Home Value Index at about $316,600, a 2.5% drop over the past year.

• Rocket says May 2025’s median sold price is $324,997—up roughly 3.2% year‑over‑year.

So, it's a mixed bag: slight dips, modest rises, depending on the data source.

Market temperature

• Lakeland remains a seller’s market—buyers slightly outnumber homes available.

• But with more inventory showing up—like the Bankrate reading of nearly 5 months of supply—competition is easing.

Inventory insight

• Weekly stats show about 1,166 active listings, ~12% are new builds.

• Florida in general has seen a surge in listings—some of the highest inventory growth in the U.S.—and Lakeland is right in that trend.

Days on market
Houses are taking longer to sell—closer to two months instead of one.

Who’s winning—Buyers or sellers?

Buyers

Good news: more homes to choose from, and over 59% in May went for below asking price. With interest rates still over 6%, but stabilizing, it’s a solid time to shop—especially first‑time buyers or those priced sensitive.

Sellers

Homes priced under $400K are still moving well, especially with compelling staging and right pricing. Given sellers’ market conditions, if you're ready, listing now could yield strong offers sooner.

Why things are changing

• Rising inventory: Builders adding stock, plus more resale listings.

• Price corrections: After pandemic highs, Florida is cooling; some losses, some gains—mean reversion at work.

• Insurance & taxes: Florida insurance costs are skyrocketing, adding pressure on buyers and owners.

• Population shift: Lakeland is seeing steady in-migration—and high rent growth—driven by affordability vs. Tampa/Orlando.

So... should you buy, sell, or sit tight?

Goal

Now is a Good Time if…

Buying

You want options, can move fast, and plan to stay long-term

Selling

Your home is in good shape and priced well—especially in the <$400K range

Waiting

You're hoping for a bigger correction or need better financing

Handy tips

• Buyers:

• Get pre‑approved early and be ready to move fast—some well-priced homes still get multiple offers.

• Consider newer inventory where competition might be lighter.

• Sellers:

• Invest in simple updates and curb appeal to stand out in a growing market.

• Price just right to avoid sitting too long—lean comps >$400K.

Bottom line

Lakeland’s shifting from a red‑hot seller’s market to something more balanced. Sellers still hold some advantage, especially under $400K and with a quality presentation. Buyers are gaining ground, with more inventory and negotiation leverage. If your timing and finances align, now can be a good move either way.

The market is always changing, so to get the most up-to-date information, talk to your trusted S&D Real Estate agent to guide you through the buying and/or selling process.