Lakeland Fl Real Estate Update – Overall Home Sales for September 2010
Overall Lakeland Florida home sales increased to $120,143 for the month of September and the number of Lakeland homes sold increased from as well to 195. Average and median prices, however, declined from the previous year. Distressed properties continue to be a major factor in determining overall market values for Lakeland FL homes. September market share of distressed homes increased to 67% from the previous month.
Lakeland overall homes sales in September:
195 – previous month: 187 – previous year September 09: 184 sold
September – average sales price $120,143
Previous month: $115,431 (+4.08%) – previous year September 09: $128,976 (-6.85%)
September – median sales price $100,000
Previous month: $98,000 (+2.04%) – previous year September 09: $120,900 (-17.29%)
The graph below represents average and median home sales for September 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 was the average sales price 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 home sales have exceeded.
A total of 2361 Lakeland homes are currently for sale and under contract resulting in a 12 months supply. Although moderate decline in inventory from the previous, however, still suggesting that the supply continues to be greater than the demand.
Let’s break it down for you to see the supply and demand for traditional homes for sale versus the distressed market in the Lakeland real estate market.
Traditional homes only – Inventory active and pending 1365 homes resulting in 23 month of supply.
Distressed properties – Inventory active and pending 996 homes resulting in a 8 month of supply.
Distressed properties in Lakeland, Florida
For the month of September, Lakeland’s real estate market of distressed homes had a market share of 67%. There were a total of 130 homes sold in September, according to Mid-Florida Regional MLS.
Check back soon for September’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.
Copyright © 2010 By Petra Norris *Lakeland Fl Real Estate Update – Overall Home Sales for September 2010*