Bryan Realty

Lakeland, TN 38002

Single-Family Homes

Market Report / michael@bryanrealty.com



Lakeland, TN 38002

Tue Sep 28 2021
This week the median list price for Lakeland, TN 38002 is $513,975 with the market action index hovering around 80. This is about the same as last month's market action index of 80. Inventory has held steady at or around 24. 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.

Strong Seller's Market

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Lakeland, TN 38002

Tue Sep 28 2021
This week the median list price for Lakeland, TN 38002 is $513,975 with the market action index hovering around 80. This is about the same as last month's market action index of 80. Inventory has held steady at or around 24. 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.

Strong Seller's Market

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Lakeland market.
Median List Price $513,975
Median Price of New Listings $385,000
Per Square Foot $160
Average Days on Market 78
Median Days on Market 28
Price Decreased 25%
Price Increased 4%
Relisted 4%
Inventory 24
Median Rent $2,128
Market Action 80
Strong Seller's Market

We continue to see prices in this zip code hovering around these current levels, even though they bumped up a bit this week. Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.

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
$719,850 3,774 1 - 2.5 acres 5 4 17 2 1 49
$572,850 3,499 0.25 - 0.5 acre 4 3 0 1 1 38
$466,400 3,299 0.25 - 0.5 acre 4 3 22 3 3 24
$295,000 1,899 0.5 - 1 acre 3 2 43 3 4 10