housing market
Lakeland FL Real Estate Update – Short Sale and Foreclosure Market Report July 2010
August 23, 2010 by Petra Norris · Leave a Comment
Lakeland Florida Short Sale and Foreclosure Market Report – July 2010
For the month of July, the Lakeland real estate market of short sales and bank-owned (REO) properties increased its market share from 54% the previous month to 60%. There were a total of 102 properties sold, compared to 117 in June and 71 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.
Currently there are a total of 1,976 Lakeland FL homes for sale and 513 homes under contract (8/20/2010). 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 15.95%
- Short sale properties – Inventory share is 26.67%
The Graph below compares sold homes in all categories – Traditional Sales (None Distressed), Lakeland Foreclosures (REO) and Lakeland Short Sales.
- Average days to Closing for bank-owned properties are 99 days
- Average days to Closing for other distressed properties are 261 days.
25 Lakeland Short Sale properties sold – average sold price $123,776 – median sold price $120,000
77 Lakeland Foreclosures (REO) sold – average sold price $68,209 – median sold price $57,500.
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.
housing market
Lakeland FL Overall Real Estate Market July 2010
August 22, 2010 by Petra Norris · Leave a Comment
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.
housing market
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.
housing market
Lakeland FL Short Sale and Foreclosure Housing Report – May 2010
June 21, 2010 by Petra Norris · 1 Comment
Lakeland Florida Short Sale and Foreclosure Market Report – May 2010
For the month of May, Lakeland real estate market of short sales and bank-owned (REO) properties had a market share of 57%. There were a total of 127 properties sold in May, compared to 148 in April and 61 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.
Currently there are a total of 1,940 Lakeland homes for sale and 514 Lakeland homes under contract (06/21/2010). 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 14.10%
• Short sale properties – Inventory share is 26.20%
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 87 days
• Average days to Closing for other distressed properties are 307 days.
29 Short Sale Sold – average sold price $124,514 – median sold price $120,000 98 Bank-owned (REO) sold – average sold price $93,310 – median sold price $82,700
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.
Search for Lakeland Foreclosure & Short Sales
housing market
Lakeland Florida Real Estate Update for May 2010
June 18, 2010 by Petra Norris · Leave a Comment
For the month of May, the Lakeland real estate market has shown slight improvement, but compared to previous year, it has been much of the same for when considering sales prices. A total of 221 Lakeland homes were sold in May with average and median prices still declining from the previous year. Distressed properties are still driving down market values with over 57% of market share.
Lakeland Homes sold in May: 221 - previous month: 244 – previous year May 09: 158 sold
May – average sales price $121,337
Previous month: $110,880 (8.62%) – previous year May 09: $124,689 (-2.69%)
May – median sales price $106,000
Previous month: $95,500 (9.90%) – previous year May 09: $119,450 (-12.67%)
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 2447 Lakeland homes are for sale and under contract resulting in a 12 months supply.
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 1464 homes resulting in 8 month of supply.
Distressed properties – Inventory active and pending 983 homes resulting in a 8 month of supply.
Distressed properties in Lakeland, Florida
For the month of May, Lakeland’s real estate market of distressed homes had a market share of 57%. There were a total of 127 properties sold in May, according to Mid-Florida Regional MLS.
Check back soon for May’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.
housing market
Lakeland Real Estate Update for April 16th – April 30th
May 14, 2010 by Petra Norris · Leave a Comment
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.
housing market
Lakeland Real Estate Update – Homes Sales for February 2010
March 19, 2010 by Petra Norris · 1 Comment
In my last month Lakeland real estate market report, I asked the question, “Will the roller coaster ride continue in 2010?” Folks, brace for a nose dive! Although there were 152 Lakeland homes sold in February, average and median prices took a double digit steep decline. Distressed properties are still driving down market values with over 55% of market share.
Lakeland Homes sold in February: 152 - previous month: 145 – previous year February 09: 125 sold
February – average sales price $111,759
Previous month: $126,320 (- 11.53%) – previous year February 09: $132,802 (-15.85%)
February – median sales price $96,000
Previous month: $112,900 (-14.97%) – previous year February 09: $125,000 (23.2%)
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.
Lakeland homes sold that are priced right will sell quickly. In my analysis of last month activity shows that home owners, who have marketed their properties at the right price, achieve better results in less time. Here is a breakdown:
- 0-30 days – 96.87% average sold price/list price ratio
- 31-60 days – 95.64% average sold price/list price ratio
- 61-90 days – 92.35% average sold price/list price ratio
- 91-120 days – 97.03% average sold price/list price ratio
- 121+ days – 91.10% average sold price/list price ratio
For more information on the location of these sold homes 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.
Distressed properties in Lakeland, Florida
For the month of February, Lakeland’s real estate market of distressed homes had a market share of 56%. There were a total of 85 properties sold in February, according to Mid-Florida Regional MLS.
Check back soon for February’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.
housing market
Lakeland Real Estate Update on Sold Homes in January 2010
February 16, 2010 by Petra Norris · 1 Comment
A stable Lakeland real estate Market is a key factor for the housing market to rebound. For the month of January a total of 145 homes were sold overall. Last year’s overall Lakeland Florida Real Estate market was somewhat of a roller coaster ride with home prices up and down throughout the year. Will the roller coaster ride continue in 2010? From the graph below you can see that average Lakeland home prices have increased since October 2009 by almost 9%.
Lakeland Homes sold in January: 145 – previous month: 194 – previous year January 09: 115 sold
January – average sales price $126,320
Previous month: $123,866 (+ 2%) – previous year January 09: $130,334 (-3.08%)
January – median sales price $112,900
Previous month: $113,950 (-0.92%) – previous year January 09: $96,000 (17.6%)
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.
Lakeland homes sold that are priced right will sell quickly. In my analysis of last month activity shows that home owners, who are having their properties marketed at the right price, achieve 97% of their list price. Here is a breakdown:
- 0-30 days – 96.92% average sold price/list price ratio
- 31-60 days – 98.22% average sold price/list price ratio
- 61-90 days – 95.4% average sold price/list price ratio
- 91-120 days – 93.23% average sold price/list price ratio
- 121+ days – 92.28% average sold price/list price ratio
For more information on the location of these sold homes 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.
Distressed properties in Lakeland, Florida
For the month of January, Lakeland’s real estate market of distressed homes and bank-owned (REO) properties had a market share of 60%. There were a total of 88 properties sold in January compared to 60 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS. After further evaluation of my Lakeland Real Estate Market and to my readers who follow the distressed market report closely deserve clarity. Starting out with January’s Real Estate Report, the distressed market report will have its own report. Please check back soon for your 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.
housing market
December 2009 – A Record Breaking Month – Update on Sold Homes in Lakeland Florida
January 19, 2010 by Petra Norris · 1 Comment
Lakeland real estate ended the year on a high note in sales. With 194 homes sold overall, a 43% increase from the previous year, the month of December proved to be the best month for 2009 with an average sales price of $123,865, a 1% increase from the previous month.
Lakeland Homes sold in December: 194 – previous month: 174 – previous year December 08: 136 sold
While home prices are at 2004 level and still showing signs of downward market adjustments, the adjustments for December compared to last year’s figures are no longer in double digits. Although the distressed properties continue to power market values for Lakeland Real Estate, I suspect in the coming month that we see the market will stabilize.
December – average sales price $123,865
Previous month: $122,590 (+ 1%) – previous year December 08: $134,370(-7.82%)
December – median sales price $113,950
Previous month: $119,000 (-4.24%) – previous year December 08: $125,420 (-9.15%)
The graph below represents average and median prices in Lakeland for various categories.
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.
Which zip codes represents the most sales activities since January 2009?
| Zip Code | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total |
| 33801 | 20 | 12 | 15 | 21 | 13 | 16 | 17 | 12 | 20 | 27 | 20 | 31 | 224 |
| 33803 | 11 | 10 | 16 | 18 | 16 | 19 | 26 | 19 | 22 | 25 | 20 | 24 | 226 |
| 33805 | 12 | 11 | 12 | 9 | 5 | 10 | 14 | 14 | 8 | 14 | 12 | 14 | 135 |
| 33809 | 13 | 12 | 16 | 11 | 18 | 17 | 16 | 17 | 25 | 17 | 21 | 23 | 206 |
| 33810 | 25 | 31 | 34 | 31 | 46 | 37 | 40 | 33 | 42 | 46 | 43 | 40 | 448 |
| 33811 | 10 | 16 | 17 | 18 | 18 | 22 | 20 | 15 | 22 | 15 | 18 | 17 | 208 |
| 33812 | 10 | 5 | 8 | 13 | 7 | 9 | 16 | 15 | 10 | 9 | 13 | 14 | 129 |
| 33813 | 9 | 25 | 27 | 28 | 26 | 33 | 35 | 38 | 29 | 22 | 24 | 25 | 321 |
| 33815 | 5 | 3 | 7 | 5 | 7 | 6 | 4 | 3 | 5 | 2 | 3 | 6 | 56 |
| Total | 115 | 125 | 152 | 154 | 156 | 169 | 188 | 166 | 183 | 177 | 174 | 194 | 1953 |
Distressed properties in Lakeland, Florida
For the month of December, Lakeland’s real estate market of distressed homes and bank-owned (REO) properties had a market share of 53%. There were a total of 103 properties sold in December compared to 49 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.
Average days on market (DOM) for bank-owned properties are 49 days
Average days on market (DOM) for other distressed properties are 146 days.
28 Distressed Homes Sold – average sold price $118,425 – median sold price $122,000
75 Bank-owned (REO) sold – average sold price $94,819 – median sold price $80,000
For more information on the location of these sold homes 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.
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.
housing market
Lakeland Real Estate Market Report for November 2009
December 21, 2009 by Petra Norris · Leave a Comment
Despite Polk County’s unemployment numbers in the double digits, Lakeland Florida real estate sales activity continued strong for the month of November.
Lakeland Homes sold in November: 174 – previous month: 177 – previous year November 08: 106 sold
Which zip codes represents the most sales activities since January 2009?
| Lakeland | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Grand Total |
| 33801 |
20 |
12 |
15 |
21 |
13 |
16 |
17 |
12 |
20 |
27 |
20 |
193 |
| 33803 |
11 |
10 |
16 |
18 |
16 |
19 |
26 |
19 |
22 |
25 |
20 |
202 |
| 33805 |
12 |
11 |
12 |
9 |
5 |
10 |
14 |
14 |
8 |
14 |
12 |
121 |
| 33809 |
13 |
12 |
16 |
11 |
18 |
17 |
16 |
17 |
25 |
17 |
21 |
183 |
| 33810 |
25 |
31 |
34 |
31 |
46 |
37 |
40 |
33 |
42 |
46 |
43 |
408 |
| 33811 |
10 |
16 |
17 |
18 |
18 |
22 |
20 |
15 |
22 |
15 |
18 |
191 |
| 33812 |
10 |
5 |
8 |
13 |
7 |
9 |
16 |
15 |
10 |
9 |
13 |
115 |
| 33813 |
9 |
25 |
27 |
28 |
26 |
33 |
35 |
38 |
29 |
22 |
24 |
296 |
| 33815 |
5 |
3 |
7 |
5 |
7 |
6 |
4 |
3 |
5 |
2 |
3 |
50 |
| Grand Total |
115 |
125 |
152 |
154 |
156 |
169 |
188 |
166 |
183 |
177 |
174 |
1759 |
November – average sales price $122,590
Previous month: $115,952 (+ 5.7%) – previous year November 08: $159,241(-23%)
November – median sales price $119,000
Previous month: $107,000 (+11%) – previous year November 08: $142,500 (-16.5%)
The graph below represents average and median prices in Lakeland for various categories.
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.
Distressed properties in Lakeland, Florida
For the month of November, Lakeland’s real estate market of distressed homes and bank-owned (REO) properties had a market share of 53%. There were a total of 92 properties sold in November compared to 36 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.
Average days on market (DOM) for bank-owned properties are 60 days
Average days on market (DOM) for other distressed properties are 158 days.
29 Distressed Homes Sold – average sold price $124,506 – median sold price $115,000
63 Bank-owned (REO) sold – average sold price $89,084 – median sold price $75,000
For more information on the location of these sold homes 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.
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.
