Is Lake City, FL 32055 a buyer’s or seller’s market?
Lake City is a buyer’s market. With about 6.4 months of supply, buyers usually have more time and more room to negotiate on price and terms.
More competitive than 2% of U.S. ZIP codes, and #713 of 796 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Lake City housing market right now
In the three months ending August 31, 2026, 0% of homes in Lake City, FL 32055 sold above their list price, the typical home went under contract in 71 days and there were 6.4 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 30 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 4%, homes sold more slowly (64 days then) and the median sale price fell 9% to $349,849. Overall, Lake City is less competitive than a year ago, which gives buyers more room.
Within Columbia County, homes here sell faster than in 50% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county. On our competition score, Lake City ranks #713 of 796 FL ZIP codes with enough sales (score 6 out of 100).
Nearby, Fort White 32038 (13% sold over asking) and Lake City 32025 (11% sold over asking) are even more competitive.
Run the numbers for 32055
Nearby markets
Fort White 32038Seller’s market $222 /sq ftLake City 32024Balanced $205 /sq ftLake City 32025Buyer’s market $163 /sq ftWhite Springs 32096Buyer’s market $229 /sq ft Browse all markets →Towns like Lake City nearby
Find towns like Lake City in other states →Where Lake City is
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Questions about Lake City real estate
Is Lake City a buyer’s or seller’s market?
A buyer’s market: there were 6.4 months of supply in Lake City, FL 32055 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Lake City?
The typical home went under contract in 71 days in the latest three months.
Do homes in Lake City sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 94.3% of the list price.
What are property taxes in Lake City?
About 0.74% of a home’s value a year in Columbia County, or roughly $2,960 on a $400,000 home.
What is the median home price in Lake City?
The median sale price was $349,849 in the three months ending August 31, 2026, about $164 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology