While Lakeland real estate still posts declining home values with the average sales price of $124,689 ($71.01 per sq.ft.) further diving in May 23% from the previous year for Lakeland homes sold. Last month however, sold prices dropped only 2.66% from the previous month. The good news is that the number of homes sold is steady for the past three months, increasing at a small rate to 156 Lakeland residential real estate sold in May compared to 154 homes sold the previous month.
Analysis of the type of homes being sold shows Lakeland’s primary real estate market is single family homes with median sales price of $125,000. This pricing trend makes Lakeland with it’s centrally location between Tampa and Orlando very affordable when comparing to Florida’s median price of $144,400.
Let’s break it down for you to see the supply and demand for common properties for sale versus the distressed market.
Common properties only – Inventory active and pending 1729 homes resulting in 20 month of supply.
Distressed properties – Inventory active and pending 780 homes resulting in an 14 month supply.
Bank-Owned properties continue to influence Lakeland Real Estate
Since the beginning of the year, distressed homes and more importantly the bank-owned (REO) properties still play a major role in the sales activities here in Lakeland with 61 properties sold in May and recorded in our Mid-Florida Regional MLS.
With close to 2448 properties currently for sale and pending, we are experiencing approximately a 17 month of supply for the regular homes and distressed homes. Supply and Demand Theory -I have also noticed that our inventory is slowly shrinking with less than 2000 Lakeland Homes for Sale as of June 29th, 2009. This is good news for Lakeland Real Estate as inventory decreases, the demand will increase.
Of the 156 homes sold last month in Lakeland, 61 distressed homes were sold with an average sales price of $91,289 ($56.38 per sq.ft.) compared to only 27 homes that were sold the previous year, due to Short Sales and/or Foreclosures. To break it down even further, of the 61 distressed homes sold in Lakeland 47 were Bank-owned properties (REOs).
Take a look at my spreadsheet below. I’ve separated the report by zip code instead of school zones; it gives you a more accurate report in my opinion. The data and graphs for this report were obtained from the Mid-Florida Regional MLS, it is deemed reliable but not guaranteed. This report does not include “For Sale By Owner”. The numbers highlighted in pink represents the zip codes where average sold prices have exceeded.
Which zip codes represents the most sales activities since January 2009?
For more information on the location of these sold properties in Lakeland, price and size of the home click on map picture which leads you to the interactive Community Walk map created by Chuck Welch of Lakeland Local.
Let’s take a look at last month sold report for the surrounding cities in Polk County:
Winter Haven – 77 properties sold – average sold price $120,959 – average $63.33 per sq.ft.
Bartow – 12 properties sold – average sold price $119,707 average $71.07 per sq.ft.
Mulberry – 16 properties sold – average sold price $109,089 – average $65.21 per sq.ft.
Auburndale – 20 properties sold – average sold price $105,992 – average $57.67 per sq.ft.
Polk City – 3 properties sold – average sold price $160,166 – $78.62 per sq.ft.
Lake Alfred – 13 properties sold – average sold price $91,758 – $48.94 per sq.ft.
If you are interested in a specific area or neighborhood, feel free to contact me at petra@petranorris.com or click the search button below.
I have come to realize in recent months, while residing for almost 16 years here in this charming and beautiful town, that Lakeland is a great place to live.
Just between Tampa and Orlando with a growing population of over 93,000 Lakeland is located in Polk County – voted in 2007 as the All-American County.
Did you know that in 1883 Lakeland’s citizens were going to name their town Munnville in recognition of Abraham G. Munn, a Kentucky businessman who purchased 80 acres which the town was located? I’m so glad that he declined the honor and eventually a more adequate name was sought out, due to the serenity of the many lakes surrounding this great community in Central Florida – the name Lakeland was selected!
Lakeland, Florida – The City of 38 Lakes
Lakeland has 38 named lakes – the most visited lakes are near downtown Lakeland at Lake Hollingsworth, Lake Mirror, Lake Morton and Lake Wire providing its residents with great recreational opportunities. Lakeland has the appeal of small town flair with its big city sophistication.
The downtown Lakeland location including the Dixieland neighborhood and various districts such as Lake Morton District has undergone extensive renovation influenced by its own charm, constructing pedestrian friendly walking areas. Moreover, predominantly enhancements were completed with gorgeous manicured lawn around Munn Park and the Antique District.
A fine collection of specialty shops, such as art galleries, boutiques, antique stores and a General Store, as well as exceptional dining facilities and cafes that enhances the quality of the City of 
Lakeland are all within leisurely strolling distance of Munn Park.
Annually, the city of Lakeland in conjunction with local sponsors hosts a number of fairs and festivals throughout the year. Each spring, one of the nation’s largest conventions, the Sun n’Fun Fly-In is held in Lakeland, drawing nearly 150,000 aviation enthusiasts from around the world, making Lakeland’s Regional Linder Airport one of the busiest airports in the world during this event. The downtown area is the site of many of the town’s activities, such as First Fridays, Farmer’s Market, Mayfaire by the Lake, the Lake Mirror Classic Auto Festival, Lakeland Red, White & Kaboom – 4th July celebration, annual Christmas parade in December.
There are many things to love about Lakeland, Florida. The City of Lakeland’s financial stability, along with many local contributors and philanthropists providing support for its citizens quality health care, convenient public transportation, and its established public school system are just the tip of the iceberg.
Lakeland also boasts great inexpensive tourist attractions, such as the beautiful Hollis Botanical Garden and the adjacent Barnett Park, the Polk Museum of Arts, the world’s largest collection of Frank Lloyd Wright at Florida Southern College, and the Florida Air Museum, just to name a few.
Majority of the Lakeland resident’s workforce finding employment in the wholesale and the retail trade sector, as well as in the manufacturing, production, mining, tourism, distribution and service industries.
In recent years Money Magazine ranked Lakeland at the 10th “Best Place to Live in America” among medium sized cities in the South, referring to issues such as affordable housing, public safety, modern health care and school systems. The city also enjoys an ideal subtropical climate that averages a balmy 72 degrees per year. With such a pleasant climate, outdoor activities are extremely admired in Polk County.
Lakeland residents tend to be highly involved in the community. The numerous volunteer groups and service organizations in the area have a strong presence in Lakeland.
Lakeland is known to its residents when being asked where you live in Lakeland to give an answer to live in North Lakeland or South Lakeland. To me there is no distinction or separation between the two besides the name; living in North Lakeland or South Lakeland has many valuable aspects and while I have traveled the roads of Lakeland, each location and each neighborhood brings value and its own characteristics to the city of Lakeland, which why I call Lakeland as “there is no place like home”.
You may now recognize that Lakeland has plenty to offer, nonetheless its closeness to Orlando and Tampa provide its residents with the opportunity to visit such notorious attractions as Walt Disney World, Universal Studios, Busch Gardens, Sea World and Epcot. While visiting the Kennedy Space Center, the Daytona International Speedway and the white sandy beaches of the Gulf of Mexico and the Atlantic Ocean you may realize that Lakeland is the perfect fit.
Lakeland, Florida may well just be the biggest little small town in America. With a cozy feel, friendly neighbors, and surely something to offer residents of all ages, Lakeland is truly one of America’s finest cities that I call home.
Have I enticed you yet! Well, if you are thinking about moving, consider Lakeland, Florida! As your Lakeland real estate professional, I’m here to help you find the home of your dreams!
Want to know more about Lakeland, Florida?
Check out these links!
Lakeland’s annual Sun n’ Fun Fly-In hosted by the City of Lakeland and the Lakeland Linder Regional Airport for the past 35 years is widely termed the Spring Break for Pilots here in the US and across the globe. What I like most about the event is that it brings together aviation pros from all over the world, and from all facets of the aviation community to enjoy what is considered to be the best fly-in experience ever.
Each year, Sun n’ Fun provides a huge economic boost to Lakeland’s economy by bringing in an average of 160,000 visitors from around the country. According to the official Sun n’ Fun website, as recently as 2008, the event attracted some 1,300 international visitors as well – coming to Lakeland from as many as 73 countries, including first-time visitors from Tanzania, Botswana, Oman and Singapore!
All told, the fly-in brings about $27 million to Lakeland each year. So, you can see why it plays a very important role in the success of our local community.
From Vintage to Experimental – Sun n’ Fun Covers it All
Each year, pilots participating in the fly-in consist of owners who fly their aircraft to the event from all parts of the United States and Canada. Many pilots fly their personal vintage, home-built planes or restored ex-military aircraft.
One very special lady, Experimental aircraft pilot Arty Trost, flew an open-cockpit 55-mph Maxair Drifter (Ultralight Style aircraft) from Oregon to Florida for the Sun n’ Fun airshow.
This past year, the event involved the following:
- A host of WWII-era aircraft
- The U.S. Army Golden Parachute Team- this will be their first appearance at Sun ‘n Fun
- Rocket Racing demonstrations
- A Friday night air show
- A Saturday afternoon hot air balloon launch
- Earth Day activities all week long in honor of the April 22 holiday
If you’re planning to purchase a piece of Lakeland real estate, you have to admit that having the Sun n’ Fun close by is a major benefit!
Lakeland, Florida boasts many wonderful cultural opportunities for its residents, but one of the most amazing and cherished of them all has to be the historic Polk Theatre. Located at 139 South Florida Avenue, this late 1920s era vaudeville stage and movie provides a window into America’s Golden Age of Entertainment.
The Polk Theatre’s exterior really does little to prepare you for the visual treat you’re in for once you enter. Envisioned initially by Lakeland businessman John E. Melton,the exterior was set up as a business building and retail space to provide income to help finance the theatre.
Eventually, the Publix Theatre Corporation finished up the project, and brought the entire structure together. And trust me, the interior of this building is breath-taking. Words, and even pictures really can’t do it justice. In my opinion, this building stands up to any of its type in the country. (Note: The Publix Theatre Corporation had no ties to George Jenkins’ Publix Supermarkets.)
Without fail, it’s the interior of the Polk Theatre that continues to amaze both casual visitors and architectural buffs alike.
According to the Polk Theatre website:
The architect, J.E. Casale, an Italian-born immigrant, recreated a Mediterranean village in the heart of Central Florida. Flanked by Italianate walls with niches, sconces, and faux balconies and windows, the patron’s eye was drawn toward the stage and the full scale Italian renaissance “townhouse” setting that dominates the Polk’s interior.
S0, what can you expect to see at the Polk Theatre?
In years past, the Polk Theatre has been host to some of the biggest names in show business – perhaps most notably, one Elvis Presley.
As usual, the girls in the audience swooned, and Elvis rocked the house as much with his signature hip bump, leg shaking moves as with his music. Long time Elvis backup Guitarist Scotty Moore’s website provides one of the most comprehensive accounts of what was perhaps the most famous show ever to be held at the Polk Theatre.
Moore does a great job recounting not only Evlis’ interview session with then Lakeland Ledger reporter Elvalee Donaldson, who interviewed Elvis during his show at the Polk Theatre, but he also adds some wonderful historical information about the theatre itself. Please do yourself a favor and read through this information. If you’re an Elvis Presley Fan – you will absolutely love it!
Today, the Polk Theatre has once again come into its own as a well-attended local Lakeland, Florida landmark. Whether you’re interested in cinema, or one of the great live shows the theatre brings into town as part of its ever-popular Polk Theatre Performing Arts Series, there’s surely something sure to entertain.
I love the Polk Theatre, and I think you will to. As you consider your Lakeland real estate purchase, think of how nice it will be to have such a vibrant and historic cultural landmark close by!
Photo Credits
- Polk Theatre Exterior Credit: Robert Blackie on Flickr
- Polk Theatre Interior Credit: Scotty Moore Website
- Elvis Presley Ad – Lakeland Ledger Credit: Kevin Logan, Lakeland Public Library
If you are new to Lakeland, Florida, one of the first places you should visit is the revitalized downtown area known as the Munn Park district. A hub of activity for shopping and dining from the late 19th century to about 1989, the streets adjacent to and surrounding Munn Park fell silent as much of the area’s shopping and dining moved north toward the expanding area around the I-4 Interstate.
Today, however, the downtown Lakeland area around Munn Park is alive and thriving. There’s shopping, dining, and entertainment to fit nearly every taste and every budget. If you’re in the market to purchase of Lakeland real estate, and you’re wondering what areas to consider, you’d be well served to take a look at some of the homes for sale within easy driving distance of Munn Park. Trust me, come Saturday morning – the short trek to Mitchell’s for breakfast and coffee will be a pleasure!
Munn Park – A Brief History
Established in 1884, Munn Park served as the town square for Munn’s Subdivision, which was Lakeland’s first. Sometime later, Abraham Munn, for whom the area was named, dedicated the entire block as a “Public Square” that remains in public ownership today.
In 1989 the park underwent a redesign to amplify the character of the Munn Park Historic District that surrounds it . The new look took the park back to the more simplistic “Town Square Era,” which is more in line with its historic beginnings.
Enjoy Shopping, Dining and More
The revitalization of the Munn Park Historic District has brought about a lot of changes to the area. If you’re in the neighborhood and enjoy shopping, dining, and a wide choice of casual hang out spots, then you’ll be very happy with what Mun Park has to offer.
All told, there are some 50 shops and restaurants in the downtown Lakeland area. I suppose we here in the Lakeland area all have our favorite shops, cafes, and restaurants. I’ll share a few of mine here, and I encourage you to visit them!
Mitchell’s Coffee House
Mitchell’s Coffe House, located at 235 North Kentucky Ave, was founded by the Harvey’s (Mitchell is their son) in 1998 to fill a much needed void in the community for an honest to goodness local coffee house. From the outset, Mitchell’s has featured local artists with live music on the weekends and original artwork in the store.
The menu at Mitchell’s is pretty amazing. Everything is handmade, and it’s all gourmet quality. You can find gourmet coffees, pastries, and killer breakfast sandwiches.
Each morning Mitchell’s is filled with an eclectic mix of local residents, business people, college students and out-of-towners all enjoying the cozy atmosphere and friendly service. The Polk Netizens group, a collective of local Polk County, Florida social media enthusiasts, can often be found at Mitchell’s on Saturday mornings.
Photo Credit – Hyku on Flickr
Brooke Pottery
Brooke Pottery is one of the most amazing local Lakeland area shops I know of. Though Brooke Pottery is a local treasure, they carry a wide variety of contemporary American artists’ work in clay, glass, wood and metal.
I love to just wander in and see what’s new on their shelves. It’s always a wonderful experience – as Brooke Pottery continues its reputation for celebrating imagination and fine craftsmanship.
These are just a few of the local places that make owning a piece of Lakeland real estate so very special. I hope you take time to visit all of the shops and stores that Downtown Lakeland has to offer.
Photo Credit: Brooke Pottery Website
I love Lakeland, Florida. I’ve lived here for years – working as a Lakeland real estate professional – and it seems that there’s something new to enjoy all the time. Though my family and I enjoy all that the city has to offer, I think we’d all agree that Lakeland’s Florida Southern College campus is one of our very favorite parts of living here.
Frank Lloyd Wright was known for generating new and innovative architectural spaces that fit seamlessly into a given area’s natural surroundings. With Florida Southern’s campus, he did just that.
Unlike a lot of central Florida, Polk County has a good amount of topography. Lakeland benefits from this as well, and the 12 architectural structures Wright designed for Florida Southern College – the largest collection of Frank Lloyd Wright architecture in the world – fit organically into the college’s rolling landscape.
Some of My Favorite “Children of the Sun”
Though there are 12 Frank Lloyd Wright-designed buildings on Florida Southern College’s campus, Annie Pfeiffer Chapel, the Water Dome, and the Esplanades that stretch along the campus grounds are my favorites.
Annie Pfeiffer Chapel
When you see pictures of Florida Southern College, Annie Pfeiffer Chapel is often the image you see. The chapel’s construction lasted from 1939-1041, and it was built using student labor – as were several of Wright’s buildings on the campus. Of all of Wright’s buildings at Florida Southern, Annie Pfeiffer shines as a true example of his work. Fit snugly into the hill upon which it sits, the chapel really does appear to be born from the ground – lifting into the sky – playing upon Wright’s “Child of the Sun” theme for his FSC campus architecture project.
The Water Dome
The Water Dome at Florida Southern Campus is located in front of Roux Library and is a showcase of beauty and serenity both day and night. Actual construction on the Water Dome in 1948, but was only just competed in 2007 due to financial and technical limitations.
There was a lot of press around this phase of Wright’s FSC design “coming to life,” and you’ll see why when you view the Water Dome first hand. The fountain is geometrically perfect 160 feet across. Around its perimeter are high-pressure water nozzles that propel water 45 feet into the air to create a “dome” of water.
The following video provides some history behind the Water Dome at Florida Southern College.
The Esplanades
Wright’s desire to set his buildings at Florida Southern College within the landscape rather than flattening the land to set them upon it is clear when you roam underneath the vast expanse of esplanades covering the campus. The main idea for these covered walkways – in Wright’s mind – was for the esplanades to wind through the grounds and bring you suddenly upon one of the architect’s buildings.
In all, Frank Lloyd Wright’s collection of buildings at Florida Southern College are a definite “must experience” when you next find yourself in Lakeland, Florida. Yes, I’m a Lakeland real estate agent, but I love just showing my city to newcomers as well. If you find yourself in the area looking, please call me at 863-619-6918. I’d love to share one of my city’s landmarks with you.
Additional Resources
- Restoring a Campus-Full of Frank Lloyd Wright – NPR.org
- Florida Southern College Preservation and Restoration Project – Official Site
Hooray! Friday, June 5th marks the first day of vacation for students in Polk County! What better way to come to downtown Lakeland and join a fun-filled event of First Friday’s Celebration “School’s out for the Summer” to start your summer off filled with activities around Munn Park.
Parents and kids are you ready to have some fun? The party starts at 6:00 PM and contests in blowing the largest bubble. I’m sure there are some great hula-hoopers in Lakeland, there will be a contest for a squirt-gun shootout, sidewalk chalk art contest, a contest for summer themed art, which takes place along Kentucky Avenue.
Downtown Lakeland Partnership teaming up with our local downtown merchants, Explorations V Children’s Museum and the Polk Museum of Art, who are making sure, you will have a great start to your summer vacation during the June 5th First Friday “School’s out for the Summer” Celebration.
More activities are planned for the kids such as a bounce house, face painting at Lofty Ideas and a DJ at Lloyd’s of Lakeland on North Kentucky. Traditions Unlimited will feature making paper flowers and Brooke Pottery will host the 2009 Annual Ornament Contest and Kathy Cooper, owner of Gold Leaf Creative Arts, will instruct children creating their special Florida animals made out of clay.
Teens and Adults – are you dressed for summer? The Polk Museum of Art is sponsoring on South Kentucky Avenue a community art project showcasing your idea of “Summer Fun”. A people’s Choice Award for a cool summer look – you live in Florida only a short drive to the beach. Hmm… flip flops, summer shirt and a cool hat made out of straw perhaps – think Key West or Hawaii, you get the point. Try it and have fun!
Prizes will be provided for various activities by the Downtown Lakeland Partnership and Downtown Lakeland merchants.
Garden Bistro, one of my favorite restaurants, will be open for dinner 6 – 8 P.M. It doesn’t get any better than dinner at the Bistro and music by Sofa Kings 7:00 – 11:00 on the Patio. Garden Bistro is next to Hollis Garden on Lake Mirror.
Entertainment along the streets and the car show on Tennessee Avenue next to Munn Park from 6:00 PM- 9:00 PM. Shops and Restaurants are open late!
I love summer – and First Friday in Lakeland is a great way to kick it off! Remember, if you are thinking about moving, consider Lakeland, Florida! As your Lakeland real estate professional, I’m here to help you find the home of your dreams!
Foreclosed properties continue to impact the Lakeland real estate market. Lakeland’s average sales price of $128,093 ($69.22 per sq.ft.) for April slumped 25% from the previous year, prices dropped also 5 ¾ % from the previous month. A slight increase in properties sold of 154 Lakeland properties were sold in April compared to 152 homes sold the previous month.
Bank-Owned properties are the “Name of the Game”
The distressed homes and more importantly the bank-owned (REO) properties dominate the sales activities here in Lakeland with 88 properties sold in April and continuously over 50% of the total sales since the beginning of the year recorded accordingly in Mid-Florida Regional MLS.
With close to 2467 properties currently for sale and pending, we are experiencing approximately a 15 month of supply for the regular homes and distressed homes.
Distressed properties are homes in pre-foreclosure, foreclosure, bank-owned, as well as short sales. These types of homes continue to control our real estate market here in Lakeland Florida as well as throughout Polk County, so it is important for you to see what is driving down the home prices, but more importantly our home values.
Of the 154 homes sold last month in Lakeland, 88 distressed homes were sold with an average sales price of $108,900 ($58.91 per sq.ft.) compared to only 30 homes that were sold the previous year, due to Short Sales and/or Foreclosures. Bank-owned properties are the “name of the game” with 62 out of 88 properties was bank-owned (REO).
Let’s break it down for you to see the supply and demand for common properties for sale versus the distressed market.
Common properties only – Inventory active and pending 1602 homes resulting in 27 month of supply.
Distressed properties – Inventory active and pending 865 homes resulting in an 11 month supply.
Take a look at my spreadsheet below. I’ve separated the report by zip code instead of school zones; it gives you a more accurate report in my opinion. The data and graphs for this report were obtained from the Mid-Florida Regional MLS, it is deemed reliable but not guaranteed. This report does not include “For Sale By Owner”. The numbers highlighted in pink represents the zip codes where average sold prices have exceeded.
Which zip codes represents the most sales activities since January 2009?
For more information on the location of these sold properties in Lakeland, price and size of the home click on map picture which leads you to the interactive Community Walk map created by Chuck Welch of Lakeland Local.
Let’s take a look at last month sold report for the surrounding cities in Polk County:
Winter Haven – 102 properties sold – average sold price $101,120 – average $59.75 per sq.ft.
Bartow – 12 properties sold – average sold price $112,366 average $64.14 per sq.ft.
Mulberry – 16 properties sold – average sold price $115,658 – average $65.81 per sq.ft.
Auburndale – 13 properties sold – average sold price $148,161 – average $79.02 per sq.ft.
Polk City – 3 properties sold – average sold price $56,300 – $51.40 per sq.ft.
Lake Alfred – 7 properties sold – average sold price $104,785- $54.99 per sq.ft.
If you are interested in a specific area or neighborhood, feel free to call me at (863) 61906918 or click the button below to start your Lakeland real estate search!
