Lake Wales, FL housing market

The median sale price in Lake Wales, FL was $260K in May 2026, down 13.0% year over year, measured across homes that actually closed that month (Redfin). The three months through May 2026 averaged $260K, easing from $279K across the three months before that. That puts prices 15.2% below the strongest three-month stretch on record here, which ended in Mar 2023 at $307K. Zillow's home value index, which models the entire housing stock rather than only the homes that changed hands, reads $245K for Jun 2026, down 3.0% year over year.

Buyers had 134 homes to choose from in May 2026, down 27.2% year over year (Redfin). At the current sales pace that standing inventory works out to 5.0 months of supply; convention treats four to six months as a balanced market, which puts Lake Wales, FL squarely inside it. 37 homes came to market in May 2026, up 2.8% year over year, against 27 closings, up 22.7% year over year. Homes that sold in May 2026 took a median of 53 days to go under contract, 21 days faster than this market's usual May pace.

Competition is measurable in the closings themselves: 19% settled above asking, and the average sale landed at 99% of its final list price. 32% of listings carried a price cut in May 2026.

This page tracks 10 monthly housing series for Lake Wales, FL — median sale price, ZHVI home value, inventory (active), median days on market, months of supply, homes sold, and more — sourced from Redfin, Zillow ZHVI, running from Aug 2016 through Jun 2026. Chart any of them below, switch between levels and year-over-year change, or add nearby Florida markets to compare side by side.