Lakeland Florida Short Sale and Foreclosure Market Report – December 2010
For the month of December, the Lakeland real estate market of short sales and bank-owned (REO) properties market share increased to 61.03% from the previous month. There were a total of 119 distressed homes sold, compared to 73 in November and 103 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.
Currently there are a total of 2344 Lakeland FL Homes for Sale and 470 homes under contract (01/24/2011). 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 17.79%
- Short sale properties – Inventory share is 26.92%
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 109 days
- Average days to Closing for other distressed properties are 258 days.
39 Lakeland FL Short Sale properties sold – average sold price $116,299 – median sold price $96,000
80 Lakeland FL Foreclosures (REO) sold – average sold price $87,996 – median sold price $66,338.
In my recent blogs I wrote about absorption rate in real estate and how it can affect the homes that are for sale in Lakeland. I separated the homes by the category of Foreclosures/REO and Short Sales. The foreclosure inventory moves along well and appears to be balanced with less than six month of supply on hand.
The homes that are being sold as Lakeland Short Sales is a buyers market with an inventory supply of 23 months.
The homes that are being sold as Lakeland Short Sales is a buyers market with an inventory supply of 23 months.
Looking for a great deal on Lakeland Short Sales and Lakeland foreclosures, feel free to contact me at petra@petranorris.com or use the interactive map here below for your convenience.
Lakeland Florida Short Sale and Foreclosure Market Report – September 2010
For the month of September, the Lakeland real estate market of short sales and bank-owned (REO) properties market share increased to 67% from the previous month. There were a total of 130 distressed homes sold, compared to 108 in August and 99 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.
Currently there are a total of 1867 Lakeland FL Homes for Sale and 491 homes under contract (10/26/2010). 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 14,21%
Short sale properties – Inventory share is 28.03%
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 106 days
Average days to Closing for other distressed properties are 250 days.
31 Lakeland FL Short Sale properties sold – average sold price $132,542 – median sold price $116,000
99 Lakeland FL Foreclosures (REO) sold – average sold price $83,008 – median sold price $55,000.
The graph below will give you a clear understanding where in Lakeland FL have the most foreclosures.
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.
Copyright © 2010 By Petra Norris *Lakeland Florida Short Sale and Foreclosure Market Report – September 2010*
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*
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.
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.
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 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
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.
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.
