Overall Lakeland real estate sales activity remained very active and strong last month with a total of 244 Lakeland homes sold in April. Average and median prices are still declining from the previous year. The government’s tax credit program for home-buyers and low mortgage rates surely has impacted strong sales activity. However, it did not translate to higher prices blaming high unemployment rates and stricter mortgage lending guidelines for individuals. In fact, distressed properties are still driving down market values with over 60% of market share. Since the 2006 peak of the Lakeland real estate market, homes sold in 2008 have experienced an overall 33% decline in home prices, making it impossible to refinance mortgages for struggling homeowners. Foreclosures will continue to impact the housing market, in my opinion, throughout the year and well into the next.
Lakeland Homes sold in April: 244 - previous month: 235 – previous year April 09: 155 sold
April – average sales price $110,880
Previous month: $114,518 (-3.18%) – previous year April 09: $128,170 (-13.49%)
April – median sales price $95,500
Previous month: $105,000 (-9.05%) – previous year April 09: $114,900 (-16.88%)
The graph below represents average and median prices in Lakeland for various categories. When our media provides us with a real estate market reports, generally these reports outline only Single Family Homes and Condominiums. Lakeland Florida has a variety of homes, such as manufactured homes, townhomes, villas and duplex units.
What are the various average prices in each Lakeland zip code?
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.
Let’s break it down for you to see the supply and demand for common properties for sale versus the distressed market in the Lakeland real estate market.
Common properties only – Inventory active and pending 1490 homes resulting in 17 month of supply.
Distressed properties – Inventory active and pending 967 homes resulting in a 7 month of supply.
Distressed properties in Lakeland, Florida
For the month of April, Lakeland’s real estate market of distressed homes had a market share of 60%. There were a total of 148 properties sold in April, according to Mid-Florida Regional MLS.
Check back soon for April’s detailed Lakeland Florida real estate report that highlights bank-owned properties (REOs) and Lakeland Short Sales.
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.
Update for the Lakeland FL Real Estate market! Newly listed homes for the period of April 16th through April 30th decreased to 158 Lakeland homes for sale. The average sales price of Lakeland homes listed with area Realtors® decreased to $167,036 from my previous report. The total inventory for homes for sale still hovers around 1,900.
The types of homes and average prices for sale in Lakeland, Florida according to the Multiple Listing Services (MLS) are as follows:
3 duplex unites with an average sales price of $68,233
6 condos listed with an average sales price of $157,233
15 mobile homes listed with an average sales price of $68,387
5 Townhomes/Villas listed with an average sales price of $83,960
129 single family homes with an average price of $185,000
Lakeland’s newest homes listed! The priciest home just listed is a 2001 lake front pool home that features 6 bedrooms and 5 1/2 baths with over 5,800 square feet of living space. This home is situated on Scott Lake in the Scottsland Cove community and is offered at $1,165,000. On the contrary, the cheapest Lakeland homes, yes two homes newly listed is a bank owned 3 bedrooms 1 bath home listed for $19,900 – just about $18.00 per square foot – located in Washington Park. The second home is a 2 bedroom, 1 bath in Skyline Acres just under $26.00 per square foot.
All data for this report was obtained from the Mid-Florida Regional MLS, it is deemed reliable but not guaranteed. This report does not include “For Sale By Owner”.
Take a look at the breakdown by zip code:
33801 – 15 with an average sales price of $81,647
33803 – 29 with an average sales price of $168,559
33805 – 13 with an average sales price of $89,869
33809 – 13 with an average sales price of $200,777
33810 – 35 with an average sales price of $136,954
33811 – 14 with an average sales price of $195,036
33812 – 03 with an average sales price of $168,267
33813 – 29 with an average sales price of $271,528
33815 – 07 with an average sales price of $85,340
Update on distressed homes in Lakeland
A total of 589 Lakeland homes are currently actively being marketed that are facing foreclosure. There were 60 Lakeland properties newly listed in the distressed category with average prices of $111,795 or $62.00 per square foot. Distressed homes are categorized as “Bank-Owned”, “Require 3rd party approval (Short Sale)”, “Pre-foreclosure”, and “In-Foreclosure”.
April update on “Sold & Pending” for Lakeland real estate
244 Lakeland properties have sold that have been recorded in the Multiple Listing with an average sales price of $110,880.00. Currently, there are 570 Lakeland homes have gone to “pending”, awaiting closing. Check back soon for my detailed market report.
Hiring an experienced Realtor when buying a Lakeland Short Sale is essential.
I represented the buyers for a home in Carillon Lakes in Lakeland, Florida that was listed as a short sale and my buyer did not walk away – a successful short sale transaction from start to finish.
Showing Lakeland homes listed as Short Sales requires extra precaution when representing buyers. I always tell my buyers to be patient, have a pre-approval letter from a reputable lender or proof of funds. My estimated closing date is about three to six months out. If a potential buyer is looking for something to move in right away, a short sale may not be an option.
Before we made an offer on this Carillon Lakes home, a comparable market analysis is completed to make sure that the home is priced right. Too often the home is priced too low enticing buyers and agents to make an offer only to find out later that the short sale will not be approved after waiting for months.
- 4026 Whistlewood Drive, Lakeland Florida 33811
- Sold for $149,000
- 3 bedroom, 2 bath,
- den,
- lanai
- hardwood floors,
- low monthly homeowners association fee
- 24/7 security guard
- Listing Date October 2009
- Contract Date December 2009
- Date Closed May 2010
Interviewing the listing agent is key to find out if the seller turned in all the required documents needed to complete the short sale process. All too often, it turns out that there are still documents missing or the sellers are not cooperating, delaying the process even further. Asking how many lenders are involved and if there is private mortgage insurance on the home. More importantly getting updates from the listing agent and keeping my clients, the buyers up-to-date on the status is a key factor having a successful short sale closed.
Buying a Lakeland short sale is not for the faint at heart and patience is required process. Hiring an experienced real estate agent who is experienced on both sides of the transaction is basis to a successful closing.
Conveniently located minutes from Polk Parkway and Interstate 4, Carillon Lakes gated community is situated southwest Lakeland, Florida and has almost 650 
homeowners according to their newsletter. Carillon Lakes community has a lot to offer for families and retirees such as swimming pool, tennis courts, basketball court, fitness center, playground and a club house at the Town Center which can be rented for family gatherings such as birthday parties.
Carillon Lakes was developed over ten years ago and it is a deed restricted community. There are a variety of homes and condominiums situated throughout this lovely neighborhood that was developed in the early 2000. This community provides plenty of activities for its residents as well as for children. The community’s monthly calendar is filled with entertainment like, water aerobics, book buffs, game night, investment clubs and much, much more. Carillon Lakes has its own web site and publishes a monthly newsletter. The appearance of this community shows pride with manicured lawns and walkways throughout the community and its surrounding lakes.
A short distance to major employers such as Publix Supermarkets corporate office and GEICO Insurance as well as shopping at the Lakeside Village, Target and many restaurants situated along Harden Boulevard makes Carillon Lakes in Lakeland Florida a convenient location.
Carillon Lakes Homes for sale offer great contemporary architectural style built single family homes and condominiums from 1400 – 3000 square feet of living space at very affordable prices. These homes offer a variety of style and size from a three bedroom to five bedroom homes. A great buy for first-time home buyers, folks who want to down size, and investors. Prices currently range from under $125,000 – $230,000 with an average price of $150,000.
If you are interested more about this Carillon Lakes in Lakeland and other communities and subdivisions please contact me at petra@petranorris.com
Carillon Lakes School Zone – Lakeland FL:
**Elementary School: Jesse Keen Elementary
**Middle School: Sleepy Hill Middle
**High School: Kathleen High
**Please note that Carillon School Zone in Lakeland Florida -Polk County – occasionally changes and should be verified by the Polk County School Board.
