2011 Lakeland Florida Overall Housing Market Review – A Roller Coaster Ride
Every month I have watched, researched and written about the Lakeland FL Housing Market to see how we would compare to the same month in 2010 and even prior years. Folks asking me how is the housing market, is it getting any better? Are the prices going up? When will the prices go up?
We started out historically slow in 2011 compared to 2010, but that was done artificially due to the first time homebuyers tax credit which ended officially in April 2010 but if you had a binding contract, closing must have taken place by July 1, 2010. The roller coaster started to climb with rises in between until we took a dive in June as the Lakeland FL housing market hit a midyear low. By August we outperformed average sales price compared to the previous year and it looked for a moment that our local housing market had bottomed out. December ended in the bottom four when it comes to overall average sales price, although overall average sales prices were down, the number of transaction rose and that is the only good news I have.
Here are the Lakeland FL housing market numbers:
- In Lakeland FL, a total of 2434 residential properties were sold at an average price of $107,863 in 2011.
- In Lakeland FL, a total of 2305 residential properties were sold at an average price of $116,220 in 2010.
- Overall average prices were down 7%. Overall transactions (number of sales) was up by 6%.
While these are not horrific declines, they do speak to the angst that continues to dominate the housing market. Moreover, with the new wave of foreclosures coming into the Lakeland FL housing market they do point to 2012 that we may continue the roller coaster ride with up and down prices.
The good news is that the number of transactions improved despite the reduction of foreclosures due to the fraudulent or robo-signing documents that halted the foreclosure process for months resulting foreclosure sales were taken somewhat out of the equation.
How come 2011 Lakeland home prices sucked so badly? Our pipeline with homes under contract (pending) at 538 that includes 323 short sales most of them will not close next month, if at all and that is exactly what happened in 2011. Short sales that weren’t approved or mortgages that didn’t get commitment or clear to close, the pending numbers do not represent a fast approaching housing recovery. Moreover, until we see lenders doing their part to accommodate the seller’s delinquent loans approving them in a timely manner, the housing recovery will remain flat.
The bad news is the Lakeland Florida housing market remains flat. And that will most likely be the new normal market for the foreseeable future.
Prices will remain low due to the distressed housing market. Buyers are more savvy, they don’t want to spend more than they can afford. They want instant equity and with foreclosures and short sales selling at deep discounts, the traditional seller has no other choice than to adjust their listing price if they want or need to sell. In addition, buyers have their own struggles with the lender to commit loaning money to them.
I suspect the roller coaster ride will continue throughout 2012 in Lakeland Florida with up and down prices and up and down sales.
Lakeland FL Carillon Lakes Homes for Sale | Market Report for December 2011
Carillon Lakes in Lakeland Florida was developed over ten years ago and it is a deed restricted community. There are a variety of homes and condominiums situated throughout this lovely neighborhood that was developed in the early 2000. This community provides plenty of activities for its residents as well as for children. The community’s monthly calendar is filled with entertainment like, water aerobics, book buffs, game night, investment clubs and much, much more. The appearance of this community shows pride with manicured lawns and walkways throughout the community and its surrounding lakes.
A short distance to major employers such as Publix Supermarkets corporate office and GEICO Insurance as well as shopping at the Lakeside Village, Target and many restaurants situated along Harden Boulevard makes Carillon Lakes in Lakeland Florida a convenient location.Carillon Lakes in Lakeland FL is conveniently located minutes from Polk Parkway and Interstate 4, Carillon Lakes is a 24hr man-gated community situated southwest Lakeland, Florida and has almost 650 homeowners according to their newsletter. Carillon Lakes community has a lot to offer for families and retirees such as swimming pool, tennis courts, basketball court, fitness center, playground and a club house at the Town Center which can be rented for family gatherings such as birthday parties and other social gatherings.
Southwest Lakeland FL Homes for Sale – 6116 Laurel Oak Drive
Looking for a rural setting in southwest Lakeland, FL 33811! Bring your RV and your boat, this well maintained Lakeland Florida home has room for it all. This home is nestled in a great location where you find no cookie cutter homes and no deed restrictions. It is away from the hustle and bustle but close to the Interstate, shopping and dining facilities. No banks involved to stall the negotiations, just you and the seller. A lot of home and property for a great price of $175,000.00
Lakeland FL Homes for Sale – Southwest – Oakview Estates
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Overview Maps Photos Features Description Video Neighborhood |
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Petra Norris
CDV TransAtlantic, Inc. Real Estate Brokerage
(863) 619-6918 pnorris500@gmail.com http://www.petranorris.com
Listed by: CDV TransAtlantic, Inc Real Estate Brokerage |
Nearby properties for sale
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Living in Lakeland Florida
When it comes to moving to and living in Lakeland Florida, especially for parents of school age children, a move is a difficult decision to make. Parents are mostly concerned about schools, activities, and neighborhoods just to name a few. Having raised two daughters of my own, I’ve heard them say, “Lakeland is boring”. I’ll bet children say that in every town. For the most part kids growing up here, they always think there is not much to do but what I have come to learn is when compared to other locations I have visited there is plenty of choices in and around Lakeland, FL.
It wasn’t until I had the chance to see other cities around the country that I realized with all Lakeland, FL has to offer our kids can literally do anything they set their mind to. We have an array of theme parks to entertain any age group for a few days. We have free parks around the area to take our kids to and still not visit the same park twice in one week because each park comes with its own amenities. Our children have a choice to where they want to learn and focus their education. Many of these things don’t exist in other cities, states, or even countries unless you have the money to afford it, which makes living in Lakeland Florida a top spot.
One of the tough choices parents make when moving to a new area is where to live since every parent wants the best for the child so therefore one very common question is what is the best school district to live in. Here in Lakeland just like every other Florida city we have our zoned public schools all of which have their own attributes, which others may not demonstrate. However if you decide to move to an area because you love the house but do not want your child to attend the zoned school for one reason or another you have the option to enroll your child in one of the other types of schools Lakeland has to offer. Private schools, Montessori schools, Charter schools, and Magnet schools, Lakeland has them all. Schools where your child can gain more of a focus on the Math and Sciences or schools, which allow your child to gain experience in the Arts and everything in between. If it is the sports you want your child to be involved with we have nationally recognized sports teams also.
If you are afraid your child will be bored during the weekends or over breaks there are numerous parks for entertainment for them. There are Parks for children of all ages. The best part about each of these parks is they are free to visit and they foster kids in their education and social skills. Not to mention the ample opportunity for shopping in and around Lakeland. We have one of the nicest outdoor malls in the area with great restaurants and a movie theater that boasts the newest releases from Hollywood. With being only thirty-minute drive to the next big city it allows you to enjoy the amenities of those cities without the headache of traffic every single day. Orlando and Tampa offer some great activities to the Central Florida area but when it is time to unwind it is nice to know you can come back to Lakeland and escape the hustle and bustle of the big cities.
Lakeland FL is a great place to live and a wonderful city to raise a family. With the ample education opportunities, the city fosters the ability to develop into a well-rounded individual who cares about the well being of others. The people in Lakeland are the type of people who not only care about themselves but the development of others since it is our future generations that will continue help our wonderful city grow.
Are you thinking about moving to Lakeland Florida and looking for a home to raise your children, then please click on the search for Lakeland homes picture right here below. It’s free and no registration required.
Lakeland FL Existing Overall Home Prices – November 2011
Average overall Lakeland existing home prices dropped to $109,606 in November from the previous month. Overall median home prices for existing homes in Lakeland Florida also decreased from the previous month as well as from the previous year. While the inventory of Lakeland foreclosures is down, distressed properties continue to be a major contributor in determining market values for Lakeland FL homes, November market share of distressed homes was 51% which is an indication that buyers are more willing to stick with short sales as banks are willing to approve short sales in a shorter time frame.
Lakeland Homes sold in November: 181 previous month:189 – previous year November 10: 135 sold
November – average sales price $109,606
Previous month: $115,266 (-4.91%) – previous year November 10: $120,461 (-4.31%)
November – median sales price $95,000
Previous month: $105,000 (-9.52%) – previous year November 10: $102,000 (-6.86%)
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, town-homes, 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.
Distressed properties in Lakeland, Florida
For the month of November, Lakeland’s real estate market of distressed homes had a market share of 51%. There were a total of 92 homes sold in November, according to Mid-Florida Regional MLS.
Check back soon for November’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[at]petranorris.com or click the search button below.
Lakeland FL Carillon Lakes Homes for Sale | Market Report for November 2011
Carillon Lakes in Lakeland FL is conveniently located minutes from Polk Parkway and Interstate 4, Carillon Lakes is a 24hr man-gated community situated southwest Lakeland, Florida and has almost 650 homeowners according to their newsletter. Carillon Lakes community has a lot to offer for families and retirees such as swimming pool, tennis courts, basketball court, fitness center, playground and a club house at the Town Center which can be rented for family gatherings such as birthday parties and other social gatherings.
Carillon Lakes was developed over ten years ago and it is a deed restricted community. There are a variety of homes and condominiums situated throughout this lovely neighborhood that was developed in the early 2000. This community provides plenty of activities for its residents as well as for children. The community’s monthly calendar is filled with entertainment like, water aerobics, book buffs, game night, investment clubs and much, much more. The appearance of this community shows pride with manicured lawns and walkways throughout the community and its surrounding lakes.
A short distance to major employers such as Publix Supermarkets corporate office and GEICO Insurance as well as shopping at the Lakeside Village, Target and many restaurants situated along Harden Boulevard makes Carillon Lakes in Lakeland Florida a convenient location.
Outside storage unit - declutter comes to mind when putting you house up for sale. Why not rent a storage unit, put your valuables in a box and lock it up in a storage unit.Lakeland FL Existing Overall Home Prices Rose In October 2011
Average overall Lakeland existing home prices rose to $115,266 in October. Overall median home prices for existing homes in Lakeland Florida increased from the previous month as well as from the previous year. While distressed properties continue to be a major contributor in determining market values for Lakeland FL homes, October market share of distressed homes however, increased to 52% from the previous months which is an indication that banks are willing to approve short sales because short sale closings have improved and foreclosures are picking back up.
Lakeland Homes sold in October: 189 previous month:187 – previous year October 10: 169 sold
October – average sales price $115,266
Previous month: $114,886 (.33%) – previous year October 10: $115,092 (.15%)
October – median sales price $105,000
Previous month: $100,000 (5%) – previous year October 10: $92,000 (14.13%)
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, town-homes, 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.
Distressed properties in Lakeland, Florida
For the month of October, Lakeland’s real estate market of distressed homes had a market share of 52%. There were a total of 98 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[at]petranorris.com or click search button below.
