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Lakeland FL Real Estate Update for July 01 – July 15, 2010
July 30, 2010 by Petra Norris · Leave a Comment
Update for the Lakeland real estate market! Newly listed homes for the period of July 01 through July 15th, 2010. A total of 168 Lakeland FL homes for sale were recently listed with area Realtors®. The average sales price of Lakeland homes for sale increased to $149,739 from my previous report. The total inventory of Lakeland Florida real estate is 2035 as of 07/29/2010.
The types of homes and average prices for sale in Lakeland, Florida according to the Multiple Listing Services (MLS) are as follows:
3 duplex listed with an average sales price of $64,300
6 condos listed with an average sales price of $81,700
17 mobile homes listed with an average sales price of $74,953
5 townhomes/villas listed with an average sales price of $156,640
137 single family homes with an average sales price of $163,618
Lakeland’s newest homes listed! The priciest home listed for this time period is a 2004 custom built pool home that features 6 bedrooms 5 21/2 baths with almost 7,500 square feet of living space. The home is situated on over 1/2 acre near Scott Lake and is offered at $1,350,000. On the contrary, the cheapest Lakeland home listed for this time period is a 3 bedroom 1 bath bank owned home in the Westgate subdivision. It is offered at $17,900, just over $20.00 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 – 26 with an average sales price of $79,387
33803 – 23 with an average sales price of $204,387
33805 – 07 with an average sales price of $154,086
33809 – 29 with an average sales price of $160,576
33810 – 34 with an average sales price of $114,682
33811 – 16 with an average sales price of $154,531
33812 – 08 with an average sales price of $191,163
33813 – 21 with an average sales price of $219,219
33815 – 04 with an average sales price of $37,825
Update on distressed homes in Lakeland
A total of 696 Lakeland homes are currently actively being marketed that are facing foreclosure. There were 76 Lakeland homes newly listed in the distressed category as Bank Owned and Short Sale with an average price of $116,059 or $66.85 per square foot.
July Update on “Sold & Pending” for Lakeland Real Estate
81 Lakeland homes so far sold in July with an average sales price of $76,970. There are currently 369 Lakeland homes in “pending” status awaiting to close according to the Multiple Listing. Check back soon for my detailed market report for Lakeland homes sold in July.
Looking for your next Lakeland FL home, it is all right here with the click of your mouse – just click away!
Lakeland Florida Homes for Sale
Retiring from Active Duty Military or Relocate to MacDill, AFB – Tampa, FL?
July 28, 2010 by Petra Norris · Leave a Comment
Just recently I sold a home in Lakeland, FL to an active duty military member who is relocating to MacDill AFB – Tampa, FL. Why in the world they chose Lakeland over Tampa you might ask? The drive alone from Lakeland to MacDill is about 40-50 minutes depending on traffic. The single answer is location, location, location…..
You see, they thought way ahead of their time, where do I want to raise my family or where do I want to retire and live comfortable? Military members and their family are known to sacrifices. The separation from their families while deployed in another country, another state is in my humble opinion one of their challenging sacrifices military families share every day. When it comes time to retire or to relocate and where the duty station may be at MacDill AFB, or even Ft. Benning, GA – my husband’s last duty station, many feel they want to get away from a military base but still want to be within driving distance for shopping, amenities and activities, such as the annual military air show. It is a no brainer for a soon to be retiring active duty military member to make the driving sacrifice.
While Lakeland FL with it small city feel, it is smack dab in the middle and convenient to all major attractions and white sandy beaches.
Guaranteed Veterans Administration Loan Program allows Active Duty Military Members and Veterans receive 100% financing with a maximum loan limit for $417,000 in Lakeland FL. You can buy a very nice home considering the loan limits and comparing recent home prices here in Lakeland, FL
Lakeland has very affordable home prices compared to Tampa, FL or Orlando, FL
- Lakeland, FL – average home prices for single family homes in June 2010 was $125,040
- Tampa, FL – average home prices for single family homes in June 2010 was $205,140
- Orlando, FL – average home prices for single family homes in June 2010 was $169,711
Thinking about retiring or relocating close to a military base? Consider Lakeland Florida in your next home search, it is all right here with the click of your mouse – just click away!
Lakeland FL Short Sale and Foreclosure Housing Report – June 2010
July 25, 2010 by Petra Norris · Leave a Comment
Lakeland Florida Short Sale and Foreclosure Market Report – June 2010
For the month of June, the Lakeland real estate market of short sales and bank-owned (REO) properties had a market share of 54%. There were a total of 117 properties sold in May, compared to 127 in May and 61 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.
Currently there are a total of 2,011 Lakeland homes for sale and 495 Lakeland homes under contract (07/24/2010). By calculating total inventory, homes that are under contract which are included in my inventory share because these properties have not closed in which a buyer could walk away at any given time.
- Bank owned properties – Inventory share is 15.88%
- Short sale properties – Inventory share is 26.50%
The Graph below compares sold homes in all categories – Traditional Sales (None Distressed), Bank Owned Properties (REO) and Lakeland Short Sales
- Average days to Closing for bank-owned properties are 86 days
- Average days to Closing for other distressed properties are 296 days.
- 31 Lakeland Short Sale homes sold – average sold price $111,594 – median sold price $110,000
- 86 Lakeland Bank-owned (REO) homes sold – average sold price $86,130 – median sold price $80,000.
Looking for a great deal on Lakeland Short Sales and Lakeland foreclosures, feel free to contact me at petra@petranorris.com or click the search button below.
Lakeland FL Real Estate Home Sales – June 2010
July 23, 2010 by Petra Norris · Leave a Comment
Lakeland FL Real Estate Home Sales – June 2010
For the month of June, the overall Lakeland FL Home Sales has declined slightly, but compared to previous year, it has been much of the same for when considering sales prices. A total of 216 Lakeland homes were sold in June with average and median prices sharply declining from the previous year. Distressed properties continue to be the driving force impacting and driving down market values for Lakeland FL homes with over 54% of market share.
Lakeland Homes sold in June: 216 - previous month: 221 – previous year June 09: 171 sold
June – average sales price $118,182
Previous month: $121,337 (-2.67%) – previous year June 09: $145,770 (-18.93%)
June – median sales price $109,200
Previous month: $106,000 (3.02%) – previous year June 09: $125,000 (-12.64%)
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.
A total of 2515 Lakeland homes are for sale and under contract (7/22/2010) 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 common properties for sale versus the distressed market in the Lakeland real estate market.
Common properties only – Inventory active and pending 1451 homes resulting in 15 month of supply.
Distressed properties – Inventory active and pending 1065 homes resulting in a 9 month of supply.
Distressed properties in Lakeland, Florida
For the month of June, Lakeland’s real estate market of distressed homes had a market share of 54%. There were a total of 117 properties sold in June, according to Mid-Florida Regional MLS.
Check back soon for June’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.
Lakeland FL Real Estate – Short Sale – Reduced Price – 5920 Buck Run Dr.
July 21, 2010 by Petra Norris · Leave a Comment
Reduced Lakeland FL Short Sale – 5920 Buck Run Drive – Deer Brooke Community – Southwest Lakeland
There are about 500 homes situated throughout the Deer Brooke neighborhood located in Southwest Lakeland. It has a rural atmosphere with its tree lined scenery. These homes were developed from the mid 1980′s to present and currently range in price from the low $100′s to $350′s. Deer Brooke community is surrounded by farms, horse farms, and homes with acreage.
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Lakeland FL Home for Sale – Short Sale!
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Petra Norris
CDV TransAtlantic, Inc. Real Estate Brokerage
(863) 619-6918 pnorris500@gmail.com http://www.petranorris.com
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