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.
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.
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.
The homes that are being sold as Lakeland FL Short Sales is a buyers market with an inventory supply of 21 months.
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 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.
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.
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.
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
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.
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 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 |
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 $77,500 – Average Days to Closing 85
· 111 sold homes were Short Sales – median price $90,000 – Average Days to Closing 270
