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Overall Polk County FL Home Prices – July 2010

Overall Polk County Existing Home Prices for July 2010

Polk County’s overall existing home sales still strong for numbers of homes sold for the Month of July with a total of 617 properties sold despite the declining home prices and the end of the first-time homebuyer tax credit. Prices continue to decrease downwards blaming it still widely on discounted distressed sales throughout the county from the previous year and years’ prior.

A look back in history:

• July 2006 – median price $185,000 (-51.41%) – 721 homes sold
• July 2007 – median price $180,000 (-50.06%) – 437 homes sold
• July 2008 – median price $147,575 (-39.08%) – 462 homes sold
• July 2009 – median price $108,000 (-16.76%) – 598 homes sold

617 existing homes sold – a decrease of 23.54% from the previous month (807 sold homes) in Polk County, FL.

Overall sales decreased marginally to $89,000 in Polk’s median price for existing homes from the previous month of $95,000, however, the Polk’s median home price from the previous year is showing a double-digit decline by 16.76%.

Take a look at the city you live in and see what the numbers are for July 2010 for existing home sales – single-family homes, condominiums, manufactured homes, duplex, villas, and townhomes -including distressed properties in Polk County.  Please take note only sales recorded by Realtors® are taken into account. The source for this data is Mid-Florida Regional MLS Service; it is deemed reliable but not guaranteed.

City         Average Sold Price            Median Sold Price           # of Homes Sold

AUBURNDALE	92,681	85,000	26
BABSON PARK	546,000	546,000	2
BARTOW	120,315	64,500	13
DAVENPORT	120,018	110,000	144
DUNDEE	55,475	59,450	4
EAGLE LAKE	101,025	98,000	4
FORT MEADE	45,667	45,000	3
FROSTPROOF	34,667	25,000	3
HAINES CITY	100,743	70,100	27
HIGHLAND CITY	40,700	40,700	2
KISSIMMEE	92,031	69,000	16
LAKE ALFRED	88,806	98,475	8
LAKE HAMILTON	90,000	90,000	1
LAKE WALES	88,548	71,750	28
LAKELAND	115,453	98,950	170
MULBERRY	115,239	124,950	14
POINCIANA	86,853	74,750	59
POLK CITY	45,560	35,250	4
WINTER HAVEN	102,240	75,000	89

Let me break down July 2010 Polk County existing homes prices into various categories:

• 520 Single family homes – median price $100,000 – 150 Average Days to Closing
• 31 Townhomes, villas and duplex units – median price $55,000 – 138 Average Days to Closing
• 37 Condominiums – median sold price – $70,450 – 119 Average Days on Closing
• 30 Modular, manufactured/mobile homes in park/out of park – median sold price $39,000 – 176 Average Days on Closing

Let’s take a look at the distressed Polk County real estate market!

There were 215 existing Polk County homes sold, not categorized as distressed properties, at a median sold price of $125,000 with 169 average days to closing, which counted for almost 34.85% of our total sales. The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales counted for 65.15% of our total sales in Polk County for the month of July.

• 307 sold homes were Bank Owned – median price $73,000 – Average Days to Closing 94.
• 95 sold homes were Short Sales – median price $95,000 – Average Days to Closing 280

Lakeland FL Homes For Sale – Newly Listed August 1 – August 14, 2010

Lakeland FL Real Estate Update – Short Sale and Foreclosure Market Report July 2010

Lakeland FL Overall Real Estate Market July 2010

Lakeland FL Overall Real Estate Market July 2010

Lakeland real estate Update – So far for this year overall Lakeland Home prices averaging around $117,000 and July’s average overall home price was $116,042.  However, only 169 Lakeland Homes sold last month, producing the third lowest numbers of Lakeland Homes sold for this year.  Average and median prices declined sharply from the previous year by double digits.  Distressed properties continue to be a major contributor in determining market values for Lakeland FL homes with over 60% of the market share.

Lakeland Homes sold in July: 169 – previous month:  216 – previous year July 09: 189 sold

July – average sales price $116,042

Previous month: $118,182 (-1.81%) – previous year July 09: $148,233 (-21.72%)

July – median sales price $99,000

Previous month: $109,200 (-9.16%) – previous year July 09: $130,000 (-23.85%)

The graph below represents average and median home 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.

A total of 2492 Lakeland homes are for sale and under contract resulting in a 12 months supply, noticing that our inventory increased suggesting that 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 1427 homes resulting in 24 month of supply.

Distressed properties – Inventory active and pending 1065 homes resulting in a 11 month of supply.

Distressed properties in Lakeland, Florida

For the month of July, Lakeland’s real estate market of distressed homes had a market share of 60%. There were a total of 102 homes sold in July, according to Mid-Florida Regional MLS.

Check back soon for July’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.

Deadline to Appeal Your Lakeland FL Home’s Assessed Value Looming

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