Lake City Housing Market Report March 2025•Anderson County, Tennessee

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Housing Prices in Lake City, TN

How much do homes in Lake City, TN cost?

Housing Market Conditions

Is Lake City, TN a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Lake City is a Seller's Market

Difference Since March 2024

At the same time last year, Lake City was a Buyer's Market.

Insight

Lake City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$195,000$189/SqFt
-$16,000
-7.6%

Based on all homes sold in the last 12 months

Insight

Homes in Lake City have sold for 7.6% less than they did a year ago.

Summary: The median home sold price in Lake City was $195,000 in March 2025, down 7.6% from last year, and the median price per square foot was $189.

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsMar 2024Mar 2025Change YoY
1$245K$170K
-30.6%
2$139K$217K
+56.1%
3$215K$195K
-9.3%
4$274.9K$137K
-50.2%
5-$450K
N/A

Summary: Lake City housing price by bedroom type for March 2025, compared to the previous year. The home price for 1 bedroom homes decreased by -30.6%. The home price for 2 bedroom homes increased by +56.1%. The home price for 3 bedroom homes decreased by -9.3%. The home price for 4 bedroom homes decreased by -50.2%. The home price for 5 bedroom homes did not change.

How does Lake City, TN compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Lake City, TN

Housing supply in Lake City, TN

How many homes are available in Lake City, TN?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
14Last MonthMar 2025
132 months agoFeb 2025
+7.7 %
Change MoMFeb – Mar

Summary: The Lake City real estate market had 14 homes for sale in Mar 2025, a 7.7 % increase compared to Feb 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
4Last MonthMar 2025
32 months agoFeb 2025
+33.3 %
Change MoMFeb – Mar

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsFeb 2025Mar 2025Change MoM
122
0.0%
236
+100.0%
376
-14.3%
400
0.0%
510
-100.0%

Summary: Lake City housing inventory by bedroom type for March 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +100.0%. The inventory for 3 bedroom homes decreased by -14.3%. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes decreased by -100.0%.

Asking Price vs. Sold Price

How much do homes in Lake City, TN cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price2 Homes

At Asking Price0 Home

Under Asking Price2 Homes

Insight

If you're buying a home in Lake City, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Lake City in March 2025, up by 33.3% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and and 50% were sold over asking.

Days on Market for Lake City, TN

How long does it take to sell a home in Lake City, TN?

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days1 Home

Over 90 Days1 Home

Insight

Many homes in Lake City are selling fast, if you're buying plan to act quickly.

Summary: During March 2025, 4 homes were sold in Lake City; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
54 DaysThis YearMar 2025
43 Days1 year agoMar 2024
+27.1 %
Change YoYMar 2024 – Mar 2025

Summary: Homes in Lake City had an average listing age of 54 days in Mar 2025, up by 27.1% compared to the previous year.

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Newest Listings in Lake City, TN

What homes are available in Lake City, TN?

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Nearby markets aren't available for Lake City, TN

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MLS Disclaimers and Copyright

Based on information from East Tennessee REALTORS® MLS, and Great Smoky Mountains MLS for the period 04/01/2023 - 04/01/2025

IDX The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms.

The Knoxville Area Association of REALTORS® Multiple Listing Service does not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing.

Information deemed reliable but not guaranteed. This information is updated daily, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision.

Copyright © 2025 Knoxville Area Association of REALTORS® Multiple Listing Service.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/12/2025, 7:20:56 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Copyright Great Smoky Mountains Association of REALTORS ® & MLS. All rights reserved. Information is deemed reliable but not guaranteed. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/12/2025, 7:15:57 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.