Update for the Lakeland real estate market! Currently, there are 1940 homes for sale throughout Lakeland – as of 11/03/09, still balanced – no major increase or decrease in inventory for the past few weeks. Newly listed homes for the period of October 16th through October 31st totaled 192 Lakeland homes recently came on the market. Average sales price of $177,940 or $85.32 per square foot with area Realtors®.
The types of homes and average prices just listed in Lakeland, Florida according to the Multiple Listing Services (MLS) are as follows:
2 duplex listed with an average sales price of $36,299
5 condos listed with an average sales price of $104,560
16 mobile homes listed with an average sales price of $96,212
11 Townhomes/Villas listed with an average sales price of $110,561
158 single family homes with an average price of $195,022
Three Lakeland homes exceeding $1 million were just listed. The priciest Lakeland real estate was a former “Home of the Year” in the 2006 Spring Parade. This custom built pool home is located in the Lazy Creek subdivision; featuring 5 bedrooms and 5 baths with close to 6,000 square feet of living space currently offered for $1,499,000. On the contrary, the cheapest Lakeland home newly listed is a 2 bedroom 1 bath listed for only $10,000 – just under $12.00 per square foot – located in the Palma Ceia Court subdivision.
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 – 20 with an average sales price of $69,398
33803 – 24 with an average sales price of $255,583
33805 – 11 with an average sales price of $84,272
33809 – 26 with an average sales price of $155,553
33810 – 49 with an average sales price of $176,746
33811 – 19 with an average sales price of $273,142
33812 – 08 with an average sales price of $142,637
33813 – 30 with an average sales price of $206,099
33815 – 05 with an average sales price of $99,359
Update on distressed homes in Lakeland
A total of 540 properties are currently actively being marketed that are facing foreclosure. There were 71 Lakeland homes newly listed in the distressed category with average prices of $116,036 or $67.04 per square foot. Distressed homes are categorized as “Bank-Owned”, “Require 3rd party approval (Short Sale)”, “Pre-foreclosure”, and “In-Foreclosure”.
Update on Lakeland Real Estate that have sold
For the period of October 1st through October 31st there have been 169 Lakeland homes sold so far reported with an average price of $115,406 or $67.45 per sq. ft.
Lakeland Real Estate under contract but have not closed (Pending)
Lakeland homes that are in pending status are at 498, a trend that has increased steadily over the past few months. This is a positive sign indicating sales are stabilizing or increasing.
Looking for Lakeland homes for sale, look no further – just click the icon below and off you go. Happy house hunting!
Update for the Lakeland real estate market! Currently, there are 1934 homes for sale throughout Lakeland – as of 10/20/09, which remained balanced for the past few weeks. Newly listed homes for the period of October 1st through October 15th totaled 185 Lakeland homes recently came on the market. Average sales price of $154,469 or $89.68 per square foot with area Realtors®.
The types of homes and average prices just listed in Lakeland, Florida according to the Multiple Listing Services (MLS) are as follows:
7 condos listed with an average sales price of $112,385
16 mobile homes listed with an average sales price of $96,662
8 Townhomes/Villas listed with an average sales price of $89,521
154 single family homes with an average price of $165,762
The priciest Lakeland real estate just listed is a 2008 pool home located in the Crescent Woods subdivision; featuring 4 bedrooms and 4 1/2 baths with over 4,400 square feet of living space currently offered for $895,000. On the contrary, the cheapest Lakeland home newly listed is a 2 bedroom 1 bath listed for only $10,000 – just under $15.00 per square foot – located in the Palma Ceia Court subdivision.
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 – 17 with an average sales price of $87,235
33803 – 23 with an average sales price of $157,943
33805 – 19 with an average sales price of $123,084
33809 – 33 with an average sales price of $175,256
33810 – 41 with an average sales price of $149,776
33811 – 20 with an average sales price of $179,510
33812 – 06 with an average sales price of $191,700
33813 – 18 with an average sales price of $216,203
33815 – 08 with an average sales price of $70,775
Update on distressed homes in Lakeland
A total of 520 properties are currently actively being marketed that are facing foreclosure. There were 64 Lakeland homes newly listed in the distressed category with average prices of $120,094 or $68.06 per square foot. Distressed homes are categorized as “Bank-Owned”, “Require 3rd party approval (Short Sale)”, “Pre-foreclosure”, and “In-Foreclosure”.
Update on Lakeland Real Estate that have sold
For the period of October 1st through October 15th there have been 71 Lakeland homes sold so far with an average price of $119, 974 or $69.08 per sq. ft.
For more information on the location of the properties newly listed in Lakeland, pricing and size of the homes click on map picture which leads you to the interactive Community Walk map created by Chuck Welch of Lakeland Local.
Are you looking for a great deal here in Lakeland, Florida - look no further – it is all right here with a click of your mouse.
Since February, I have seen a continuous increase in sales activity in the Lakeland real estate market. For July the sales of Lakeland homes sold has increased 26% to 188 homes from the previous year and more importantly an 11% increase from the previous month.
Moderate increases were recorded for homes sold in Lakeland, Florida. A slight gain of 1 ½ % for average sold homes for July to $147,904 ($77.16 per sq.ft.) and a 4% increase for median prices to $130,000 ($75.50 per sq.ft.) when compared to the sales from the previous month.
Compared to last year’s figures, Lakeland real estate still is lagging behind in average and median prices and I suspect will continue at least throughout this year with increased foreclosure filings and bank-owned properties that will influx the Lakeland housing market.
Average Lakeland Sold price for July 2008 – $168,425 – decrease of 12%
Median Lakeland sold price for July 2008 – $150,000 – decrease of 13%
Based on recent sales history for the Lakeland Real Estate market, it shows here in this spreadsheet below where the most activity takes place and what types of homes are selling.
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 1672 homes resulting in 16 month of supply.
Distressed properties – Inventory active and pending 768 homes resulting in an 11 month supply.
This illustrates an absorption rate for supply and demand. A seven month supply would give you a more stabilized market anything above the 7 month threshold would be a buyer’s market as we have seen the past few years. Hence, below the 7 month threshold obviously constitutes a seller’s market as we experienced it in years 2004-2006.
Distressed properties in Lakeland, Florida
For the month of July, distressed homes and bank-owned (REO) properties had a market share of 40% in the Lakeland Real Estate market. There were a total of 75 properties sold in July compared to 37 distressed Lakeland homes sold the year prior – 25% market share, according to Mid-Florida Regional MLS.
24 Distressed Homes Sold – average sold price $128,189 – median sold price $120,000
51 Bank-owned (REO) sold – average sold price $95,416 – median sold price $97,580
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 Codes | Jan | Feb | Mar | Apr | May | Jun | Jul | Total |
| 33801 |
20 |
12 |
15 |
21 |
13 |
16 |
17 |
114 |
| 33803 |
11 |
10 |
16 |
18 |
16 |
19 |
26 |
116 |
| 33805 |
12 |
11 |
12 |
9 |
5 |
10 |
14 |
73 |
| 33809 |
13 |
12 |
16 |
11 |
18 |
17 |
16 |
103 |
| 33810 |
25 |
31 |
34 |
31 |
46 |
37 |
40 |
244 |
| 33811 |
10 |
16 |
17 |
18 |
18 |
22 |
20 |
121 |
| 33812 |
10 |
5 |
8 |
13 |
7 |
9 |
16 |
68 |
| 33813 |
9 |
25 |
27 |
28 |
26 |
33 |
35 |
183 |
| 33815 |
5 |
3 |
7 |
5 |
7 |
6 |
4 |
37 |
| Grand Total |
115 |
125 |
152 |
154 |
156 |
169 |
188 |
1059 |
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.
Let’s take a look at last month sold report for the surrounding cities in Polk County:
Winter Haven – 82 properties sold – average sold price $106,536 – average $61.09 per sq.ft.
Bartow – 17 properties sold – average sold price $92,666 average $52.51 per sq.ft.
Mulberry – 10 properties sold – average sold price $117,631 – average $69.23 per sq.ft.
Auburndale – 15 properties sold – average sold price $125,509 – average $65.31 per sq.ft.
Polk City – 3 properties sold – average sold price $130,000 – $104.14 per sq.ft.
Lake Alfred – 2 properties sold – average sold price $81,500 – $44.25 per sq.ft.
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.
Sales activity has picked up for Lakeland real estate market with increasing sales since March 2009 recording 169 Lakeland homes sold in June. An increase from 156 homes sold the previous month and more importantly a 14% increase from the previous year.
While the average sales price increased to $145,767 ($75.38 per sq.ft) from the previous month of $124,689 ($71.01 per sq.ft.). Lakeland real estate prices continue to drop for June at 18% from the previous year. Now you probably wondering why the average price increased by almost 17% for Lakeland – this mainly resulted because for the 2nd time this year a property over $1 million was sold. Such a sale will increase the average sales prices in this market when looking at average sales prices.
This is the reason why you need to look at all numbers average sold as well as median sold prices.
While there was also an increase of 4.5% posted from $119,500 the previous month to $125,000 recorded in June 2009, it is more realistic since the highest and the lowest sold property are taken out of the equation. You always want to get both sides of the numbers to get the true picture.
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 1697 homes resulting in 18 month of supply.
Distressed properties – Inventory active and pending 742 homes resulting in a 12 month supply.
Bank-Owned properties continue to influence Lakeland Real Estate
Since the beginning of the year, distressed homes and bank-owned (REO) properties for the Lakeland Real Estate market still playing a major role. Sales activities shows 64 properties sold in June according to Mid-Florida Regional MLS.
26 Distressed Homes Sold – average sold price $132,588 – median sold price $127,500
38 Bank-owned (REO) sold – average sold price $95,229 – median sold price $83,153
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?
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.
Let’s take a look at last month sold report for the surrounding cities in Polk County:
Winter Haven – 75 properties sold – average sold price $119,128 – average $64.40 per sq.ft.
Bartow – 17 properties sold – average sold price $79,472 average $52.63 per sq.ft.
Mulberry – 17 properties sold – average sold price $108,108 – average $67.32 per sq.ft.
Auburndale – 17 properties sold – average sold price $115,122 – average $60.36 per sq.ft.
Polk City – 6 properties sold – average sold price $93,448 – $52.25 per sq.ft.
Lake Alfred – 10 properties sold – average sold price $112,829 – $54.84 per sq.ft.
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.
