Lakeland Florida Short Sale and Foreclosure Market Report – February 2011

For the month of February, the Lakeland real estate market of short sales and bank-owned (REO) properties that were sold decreased to 67.46% from the previous month. There were a total of 114 distressed homes sold, the same as January 2011 and 89 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.

The Graph below compares sold homes in all categories – Traditional Sales (None Distressed), Lakeland Foreclosures (REO) and Lakeland Short Sales.

 

Lakeland FL Short Sales and Foreclosures - February 2011

Average days to Closing for bank-owned properties are 124 days

Average days to Closing for other distressed properties are 259 days.

25 Lakeland FL Short Sale properties sold – average sold price $106,300 – median sold price $113,000

88 Lakeland FL Foreclosures (REO) sold – average sold price $71,311 – median sold price $63,500.

Looking for a great deal on Lakeland FL Short Sales and Lakeland FL foreclosures, feel free to contact me at petra@petranorris.com or use the interactive map here below for your convenience.

 


Copyright © 2011 By Petra Norris *Lakeland FL Short Sales and Foreclosures – February 2011*

Lakeland FL Short Sale and Foreclosure Housing Prices – January 2011

For the month of January, the Lakeland real estate market of short sales and bank-owned (REO) propertiesthat were sold increased to 67.46% from the previous month. There were a total of 114 distressed homes sold,compared to 119 in December and 87 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.

Currently there are a total of 1760 Lakeland FL Homes for Sale and 557 homes under contract (02/25/2011). In order to get true market share, I calculated the total inventory; active and homes that are under contract (pending). I include the homes under contract because at any given time a home buyer could walk away from a contract.

Bank owned properties – Inventory share is 15.88%

Short sale properties – Inventory share is 27.54%

The Graph below compares sold homes in all categories – Traditional Sales (None Distressed), Lakeland Foreclosures (REO) and Lakeland Short Sales.

 

Lakeland FL Short Sale and Foreclosure Housing Prices - January 2011

 

Average days to Closing for bank-owned properties are 112 days

Average days to Closing for other distressed properties are 253 days.

 

35 Lakeland FL Short Sale properties sold – average sold price $115,917 – median sold price $99,500

 

79 Lakeland FL Foreclosures (REO) sold – average sold price $68,749 – median sold price $52,500.

 

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.

 

Lakeland FL Short Sale and Foreclosure Housing Prices - January 2011

 

 

The homes that are being sold as Lakeland FL Short Sales is a buyers market with an inventory supply of 21 months.

 

Lakeland FL Short Sale and Foreclosure Housing Prices - January 2011

 

Looking for a great deal on Lakeland FL Short Sales and Lakeland FL foreclosures, feel free to contact me at petra@petranorris.com or use the interactive map here below for your convenience.

 

Copyright © 2010 By Petra Norris *Lakeland FL Short Sale and Foreclosure Housing Prices – January 2011*

Lakeland Fl Houses for Sale – Overall Housing Prices for December 2010

195 Lakeland Fl houses have sold in December. This number represents above average numbers for this year’s total of 2,287 houses sold. Average housing price in Lakeland Florida dropped to $112,748 for the month of December compared to the previous month. . December market share of distressed homes rose to 61% from the previous month.

Lakeland FL Houses for Sale - Housing Prices December 2010

Lakeland FL overall housing prices in December:
195 – previous month: 133 – previous year December 09: 194 sold
December – average sales price $112,748
Previous month: $120,073 (-6.10%) – previous year December 09: $123,866 (-8.98%)
December – median sales price $93,972
Previous month: $102,000 (-7.87%) – previous year December 09: $113,950 (-17.53%)

The graph below represents average and median houses that have sold in December in Lakeland, Fl in 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 houses, such as manufactured homes, town homes, villas and duplex units for sale.

Lakeland FL Houses for Sale - Housing Prices December 2010

A stable “healthy housing market has a supply of six month in inventory. Lakeland’s housing market has a total of 2338 including active Lakeland FL Houses for Sale and homes that have gone under contract (pending). From the chart below you can see the housing trend with respect to Supply and Demand and the overall absorption rate for the Lakeland, FL housing market.

Lakeland FL Houses for Sale - Housing Prices December 2010

What was average price a house sold 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.

Lakeland FL Houses for Sale - Housing Prices December 2010

Distressed properties in Lakeland, Florida
For the month of December, Lakeland’s distressed homes had a market share of 61.01%. There were a total of 119 houses sold in December, according to Mid-Florida Regional MLS.

Check back soon for December’s detailed Lakeland housing report that highlights bank-owned properties (REOs) and Lakeland Short Sales.

For more information please visit my blog about Lakeland FL Houses for Sale, real estate, communities and events.

Copyright © 2011 By Petra Norris *Lakeland Fl Houses for Sale – Overall Housing Prices for December 2010*

Lakeland FL Real Estate Update – Overall Home Sales for October 2010

Overall Lakeland Florida home sales decreased to $114,532 for the month of October.  The number of Lakeland homes sold was the third lowest this year to 166 homes sold, reasoning the recent foreclosure moratorium.  October market share of distressed homes decreased to 60% from the previous month. Distressed properties continue to be a major factor in determining overall market values for Lakeland FL homes for the remainder of this year and 2011.

Lakeland overall homes sales in October:

166 – previous month:  195 – previous year October 09: 178 sold

October – average sales price $114,532

Previous month: $120,143 (-4.67%) – previous year October 09: $115,971 (-1.24%)

October – median sales price $90,000

Previous month: $100,000 (-10%) – previous year October 09: $108,000 (-16.67%)

The graph below represents average and median home sales for October 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, town homes, 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 stable “healthy housing market has a supply of six month in inventory. Lakeland’s housing market has a total of 2353 Lakeland homes currently for sale and under contract resulting in a 15 months supply, 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 1349 homes resulting in 22 month of supply.

Distressed properties – Inventory active and pending 1004 homes resulting in a 11 month of supply.

Distressed properties in Lakeland, Florida

For the month of October, Lakeland’s real estate market of distressed homes had a market share of 60.24%. There were a total of 100 homes sold in October, according to Mid-Florida Regional MLS.

Check back soon for October’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 October 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 – Real Estate Update for July 16 – July 31, 2010

Update for the Lakeland real estate market! Newly listed homes for the period of July 16 through July 31, 2010.  A total of 208 Lakeland FL homes were recently listed with area Realtors®.  The average sales price of Lakeland home for sale increased to $154,161 from my previous report. The total inventory of Lakeland real estate is 2014 as of 08/05/2010.

The types of homes and average prices for sale in Lakeland, Florida according to the Multiple Listing Services (MLS) are as follows:

1 duplex listed with an average sales price of $59,000
7 condos listed with an average sales price of $98,800
17 mobile homes listed with an average sales price of $64,194
10 townhomes/villas listed with an average sales price of $108,020
173 single family homes with an average sales price of $168,459

Lakeland’s newest home for sale just listed! The priciest Lakeland Real Estate listed for this time period is a 1998 pool home that features 4 bedrooms 4 baths  with over 5,000 square feet of living space.  The home is situated on an approximately 3/4 acre on Forest Hills Drive and is offered at $999,000.  On the contrary, the cheapest Lakeland home listed for this time period is a 3 bedroom 2 baths home in the Weswego subdivision.  It is offered at $9,500 – home is scheduled for demolition.

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”.

Lakeland FL Homes for Sale – take a look at the breakdown by zip code:
33801 – 20 with an average sales price of $93,920
33803 – 26 with an average sales price of $150,027
33805 – 12 with an average sales price of $147,391
33809 – 33 with an average sales price of $128,976
33810 – 38 with an average sales price of $126,034
33811 – 17 with an average sales price of $162,012
33812 – 16 with an average sales price of $152,819
33813 – 41 with an average sales price of $244,812
33815 – 05 with an average sales price of $47,119

Update on Lakeland FL Foreclosures and Short Sales:

A total of 686 Lakeland homes are currently actively being marketed that are facing foreclosure. There were 89 Lakeland homes newly listed in the distressed category as Bank Owned and Short Sale with an average price of $112,309 or $65.13 per square foot.

July Update on “Sold & Pending” for Lakeland Real Estate

168 Lakeland homes so far sold in July with an average sales price of $115,176.  There are currently 485 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!

Polk County’s overall existing home sales posted record numbers of homes sold for the Month of June with a total of 807 properties sold.  The last time area real estate agents sold over 800 homes in June was in 2006.  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:

  • June 2006 – median price $185,000 (-48.65%) – 872 homes sold
  • June 2007 – median price $184,000 (-48.37%) – 511 homes sold
  • June 2008 – median price $155,000 (-38.71%) – 500 homes sold
  • June 2009 – median price $95,000 – 586 homes sold

807 existing homes sold – an increase of 3.86% from the previous month (777 sold homes) in Polk County and an increase in sales activity by 37.71% of overall existing homes sold from the previous year of 586.
Overall sales increased marginal by 2.98% in Polk’s median price for existing homes from the previous month to $95,000, however, the median home price from the previous year is showing a decline by 8.21%.
Take a look at the city you live in and see what the numbers are for June 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 Price       Sold Homes

AUBURNDALE 73,500 95,559 22
BABSON PARK 40,000 40,000 1
BARTOW 84,000 88,190 21
CLERMONT 55,000 55,000 1
DAVENPORT 102,000 115,802 208
DUNDEE 48,500 55,025 4
EAGLE LAKE 100,200 95,058 12
EATON PARK 10,000 10,000 1
FORT MEADE 150,000 150,000 1
FROSTPROOF 124,500 181,500 6
HAINES CITY 87,000 95,385 49
INDIAN LAKE ESTATES 133,000 134,833 3
KATHLEEN 89,000 89,000 1
KISSIMMEE 81,600 103,772 18
LAKE ALFRED 110,000 84,891 7
LAKE WALES 62,500 70,260 29
LAKELAND 109,200 118,182 216
LAKESHORE 18,000 18,000 1
MULBERRY 125,990 144,327 23
POINCIANA 77,500 89,180 64
POLK CITY 46,000 79,192 13
WINTER HAVEN 88,050 108,814 106

Let me break down June 2010 Polk County existing homes sales into various categories:

  • 656 Single family homes – median price $108,000 – 149 Average Days to Closing
  • 35 Townhomes, villas and duplex units – median price $70,000 – 135 Average Days to Closing
  • 67 Condominiums – median sold price – $72,000 – 101 Average Days on Closing
  • 49 Modular, manufactured/mobile homes in park/out of park – median sold price $54,900 – 177 Average Days on Closing

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


There were 331 existing Polk County homes sold, not categorized as distressed properties, at a median sold price of $115,000 with 166 average days to closing, which counted for almost 41% of our total sales. The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales counted for 59% of our total sales in Polk County for the month of June.

  • 362 sold homes were Bank Owned – median price $82,000 – Average Days to Closing  88.
  • 114 sold homes were Short Sales – median price $99,250 – Average Days to Closing 272

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



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.


Polk County’s overall existing home sales continued to improve somewhat in May. However, prices continue to drift downwards blaming it still widely on discounted distressed sales throughout the county from the previous year and the years prior.

A look back in history:

· May 2006 – median price $188,000  (-%50.93)

· May 2007 – median price $184,250 (-%49.93)

· May 2008 – median price $150,000 (-%38.50)

· May 2009 – median price $101,000 (-8.66%)

The graph picture below represents the overall Polk County Real Estate market with average sold prices and the number of sold homes.

Polk County Florida Real Estate Market - May 2010

777 existing homes sold a decrease of 5.13% from the previous month (819 sold homes) in Polk County and an increase in sales activity by 35.84% of overall existing homes sold from the previous year of 572.

A slight increase by 1.37% in overall Polk’s median price for existing homes from the previous month to $92,250, the median home price from the previous year is showing a decline by 8.66%.

Take a look at the city you live in and see what the numbers are for May 2010 for existing home salessingle-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

79,985

72,000

27

BABSON PARK

126,335

79,900

5

BARTOW

78,507

56,875

26

CLERMONT

50,050

48,000

4

DAVENPORT

117,519

110,000

153

DUNDEE

60,220

71,200

5

EAGLE LAKE

86,850

75,000

4

FORT MEADE

69,450

69,450

2

FROSTPROOF

67,333

40,000

3

HAINES CITY

91,256

94,000

47

HOMELAND

120,000

120,000

1

INDIAN LAKE ESTATES

105,250

105,250

2

KATHLEEN

135,000

135,000

1

KISSIMMEE

90,360

76,900

20

LAKE ALFRED

96,333

65,750

6

LAKE WALES

85,155

65,000

29

LAKELAND

121,525

106,500

220

LOUGHMAN

26,000

26,000

1

MULBERRY

121,579

128,388

20

POINCIANA

90,349

70,500

85

POLK CITY

112,216

65,556

10

WINTER HAVEN

107,749

97,000

106

Let me break down May 2010 Polk County existing homes sales into various categories:

· 700 Single family homes, townhomes, villas and ½ duplex – median sold price $112,337 –  142 Average Days to Closing

· 31 Condominiums – median sold price – $59,935 – 155 Average Days on Closing

· 46 Modular, manufactured/mobile homes in park/out of park – median sold price $55,097 –  166 Average Days on Closing

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

There were 289 existing Polk County homes sold, not categorized as distressed properties, at a median sold price of $120,000 with 174 average days to closing, which counted for almost 37% of our total sales. The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales counted for 63% of our total sales in Polk County for the month of May.

· 377 sold homes were Bank Owned – median price $77,500Average Days to Closing 85

· 111 sold homes were Short Sales – median price $90,000Average Days to Closing 270