The Lake County Florida real estate market in 2024 showcased steady performance, with some shifts compared to the previous year. Here’s a detailed look at the numbers and trends that shaped the market:
Key Market Statistics
- Properties Sold: 7,641 (down from 7,971 in 2023)
- Median Sold Price: $380,000 (up from $369,990 in 2023)
- Property Types:
- 6,495 single-family homes
- 307 townhouses
- 99 condos
Days on Market & Sales Volume
- Median Days to Sell: 31 (up from 21 in 2023)
- Total Sales Volume: Over $3.2 billion (unchanged from 2023)
- Homes priced between $400,000 and $500,000 had the highest sales activity.
Sales Breakdown
- Cash Sales: 2,311
- Financing Sales: 5,122
- Seller Returns: Sellers received 96.9% of the original list price on average, slightly down from 97.6% in 2023.
Foreclosures and Short Sales
- Bank-Owned/REO Sales: 47 (consistent with 2023)
- Short Sales: 12 (up from 2 in 2023)
Luxury Market Highlights
- Highest Sale: A stunning estate in the Bella Collina Golf and Country Club community, Montverde, FL. This nearly 10,000 sq. ft. masterpiece, built in 2024, featured 6 bedrooms, 8 bathrooms, and sat on 2.25 acres. It sold for $7,487,620. https://patrickhomeseller.kw.com/blog/osceola-county-florida-2024-real-estate-market-recap-key-trends-and-insights
- Million-Dollar Sales: 203 homes sold for over $1 million, up from 146 in 2023.
Conclusion
Lake County’s real estate market remained resilient despite slightly fewer overall sales. Rising median prices and increased activity in the luxury segment demonstrate strong buyer demand, especially for high-end properties. The extended days on market reflect a balanced market, offering opportunities for both buyers and sellers.
Stay tuned for more updates on Lake County real estate trends in 2025!
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