Lakeland housing market
Lakeland Real Estate Market Report for November 2009
December 21, 2009 by Petra Norris · Leave a Comment
Despite Polk County’s unemployment numbers in the double digits, Lakeland Florida real estate sales activity continued strong for the month of November.
Lakeland Homes sold in November: 174 – previous month: 177 – previous year November 08: 106 sold
Which zip codes represents the most sales activities since January 2009?
| Lakeland | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Grand Total |
| 33801 |
20 |
12 |
15 |
21 |
13 |
16 |
17 |
12 |
20 |
27 |
20 |
193 |
| 33803 |
11 |
10 |
16 |
18 |
16 |
19 |
26 |
19 |
22 |
25 |
20 |
202 |
| 33805 |
12 |
11 |
12 |
9 |
5 |
10 |
14 |
14 |
8 |
14 |
12 |
121 |
| 33809 |
13 |
12 |
16 |
11 |
18 |
17 |
16 |
17 |
25 |
17 |
21 |
183 |
| 33810 |
25 |
31 |
34 |
31 |
46 |
37 |
40 |
33 |
42 |
46 |
43 |
408 |
| 33811 |
10 |
16 |
17 |
18 |
18 |
22 |
20 |
15 |
22 |
15 |
18 |
191 |
| 33812 |
10 |
5 |
8 |
13 |
7 |
9 |
16 |
15 |
10 |
9 |
13 |
115 |
| 33813 |
9 |
25 |
27 |
28 |
26 |
33 |
35 |
38 |
29 |
22 |
24 |
296 |
| 33815 |
5 |
3 |
7 |
5 |
7 |
6 |
4 |
3 |
5 |
2 |
3 |
50 |
| Grand Total |
115 |
125 |
152 |
154 |
156 |
169 |
188 |
166 |
183 |
177 |
174 |
1759 |
November – average sales price $122,590
Previous month: $115,952 (+ 5.7%) – previous year November 08: $159,241(-23%)
November – median sales price $119,000
Previous month: $107,000 (+11%) – previous year November 08: $142,500 (-16.5%)
The graph below represents average and median prices in Lakeland for various categories.
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 and bank-owned (REO) properties had a market share of 53%. There were a total of 92 properties sold in November compared to 36 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.
Average days on market (DOM) for bank-owned properties are 60 days
Average days on market (DOM) for other distressed properties are 158 days.
29 Distressed Homes Sold – average sold price $124,506 – median sold price $115,000
63 Bank-owned (REO) sold – average sold price $89,084 – median sold price $75,000
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.
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 housing market
National Existing Home Sales Blow Past Expectations
November 25, 2009 by Petra Norris · Leave a Comment
The picture for Lakeland real estate – and home sellers in particular – may begin to brighten up a bit. With another month in the books, we’ve seen another piece of evidence that the housing market is stabilizing.
Existing Home Sales surged in October as an increasing number of US home buyers took took advantage of low mortgage rates, low list prices, and, for some, a generous tax credit.
Home resales are 23 percent higher compared to last year’s numbers, and home supply is down to 7 months nationwide. This number is also referred to as the absorption rate – the amount of time it would take for the housing inventory on the market right now to sell.
As it is right now – the national housing inventory hasn’t been this low since February 2007.
The news shouldn’t be surprising, however. The same real estate trade group that produces the Existing Home Sales report also publishes a monthly report meant to predict future home sales called the Pending Home Sales Index.
Pending Home Sales have been rising steadily since mid-May.
So, with pending home sales showing no signs of slowing and 80% of pendings turning into actual, closed sales, we can expect existing home sales volume to rise in the coming months, too. Especially because Congress extended the home buyer tax credit to include (1) “Move-up” buyers and, (2) Buyers with higher household incomes.
All in all, what we’re seeing here is good news for Lakeland home sellers, who have their homes priced right.
For buyers, on the other hand, the news isn’t so great. The window to find a “deal” may be closing quickly.
