Bryan Realty

Lakeland, TN 38002

Single-Family Homes

Market Report / michael@bryanrealty.com


Lakeland, TN 38002

Thu Mar 23 2023
This week the median list price for Lakeland, TN 38002 is $619,925 with the market action index hovering around 38. This is an increase over last month's market action index of 34. Inventory has decreased to 32. Click here to stay informed with the Lakeland market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.

Lakeland, TN 38002

Thu Mar 23 2023
This week the median list price for Lakeland, TN 38002 is $619,925 with the market action index hovering around 38. This is an increase over last month's market action index of 34. Inventory has decreased to 32. Click here to stay informed with the Lakeland market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.

Real-Time Market Profile

Never miss important changes in the Lakeland market.
Median List Price $619,925
Median Price of New Listings $599,000
Per Square Foot $171
Average Days on Market 133
Median Days on Market 56
Price Decreased 19%
Price Increased 9%
Relisted 9%
Inventory 32
Median Rent
Market Action 38
Slight Seller's Advantage

Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, look for a persistent up-shift in the Market Action Index before we see prices move from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$707,850 4,249 0.25 - 0.5 acre 4 4.5 1 1 1 276
$647,300 3,699 0.25 - 0.5 acre 4 3.3 1 0 0 45
$584,925 3,299 0.25 - 0.5 acre 4 3 9 2 2 66
$424,950 2,299 0.25 - 0.5 acre 4 2.5 29 0 3 42