3820 Village Circle, a home listed for $300,000 in Lakeland, Florida.
Courtesy of Dina Pizzuto/Mark Spain Real Estate
Home prices are cooling in Lakeland, Florida, according to Realtor.com.The median home price in August was $325,000, according to Realtor.com. Here’s what you can get for around the typical home price in the city right now.
It’s hot all year in Lakeland, Florida, but the housing market there is actually cooling down right now.
After years of demand drove home prices up in the Lakeland metro area, they are finally coming down to earth as mortgage rates continue to soar.
In August, the median home price in the area was nearly 1% less than a year prior, Insider previously reported.
So, if you’ve been eyeing homes in this city now may be your chance to jump in. The typical listing price in Lakeland was just about $360,000 in August, below the national median $435,000, according to Realtor.com.
If a family bought a home in Lakeland right now, it would cost around $2,000 a month, according to Insider’s mortgage calculator. That’s if they put 10% down and took out a mortgage with a 7.31% interest rate, the average for a 30-year mortgage as of Oct. 4.
These five homes for sale in Lakeland — located roughly an hour outside of Tampa — are listed for between $250,000 and $350,000, and provide a glimpse of what you can get for around the median home price. The information about each listing is sourced from Zillow.