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.


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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.

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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.


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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

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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.


Your Lakeland FL Homes Search – Right Here!

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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.

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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.

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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.

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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

Lakeland Real Estate Market Report YTD 2009

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.

Lakeland Real Estate - Report November 2009

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 Real Estate Market by Zip Code - Nov 09

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.

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