Is Lake Panasoffkee, FL 33538 a buyer’s or seller’s market?
Lake Panasoffkee is a balanced market. With about 4.6 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Lake Panasoffkee housing market right now
In the three months ending August 31, 2026, 14% of homes in Lake Panasoffkee, FL 33538 sold above their list price, the typical home went under contract in 94 days and there were 4.6 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 14 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 0%, homes sold faster (97 days then) and the median sale price fell 12% to $192,417. Overall, Lake Panasoffkee is more competitive than a year ago, so tougher for buyers.
Within Sumter County, homes here sell more slowly than in 78% of the county’s ZIP codes, and sell more often over asking than in any other ZIP code in the county.
Nearby, buyers who want less competition could look at Sumterville 33585 (0% sold over asking) or Coleman 33521 (0% sold over asking).
Run the numbers for 33538
Nearby markets
Bushnell 33513Buyer’s market $231 /sq ftCenter Hill 33514Seller’s market $196 /sq ftColeman 33521Buyer’s market $227 /sq ftOxford 34484Buyer’s market $198 /sq ft Browse all markets →Towns like Lake Panasoffkee nearby
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Questions about Lake Panasoffkee real estate
Is Lake Panasoffkee a buyer’s or seller’s market?
A balanced market: there were 4.6 months of supply in Lake Panasoffkee, FL 33538 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 Panasoffkee?
The typical home went under contract in 94 days in the latest three months.
Do homes in Lake Panasoffkee sell over asking?
14% of homes sold above their original list price, and the typical sale closed at 93.7% of the list price.
What are property taxes in Lake Panasoffkee?
About 0.78% of a home’s value a year in Sumter County, or roughly $3,120 on a $400,000 home.
What is the median home price in Lake Panasoffkee?
The median sale price was $192,417 in the three months ending August 31, 2026, about $172 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