In my last month Lakeland real estate market report, I asked the question, “Will the roller coaster ride continue in 2010?” Folks, brace for a nose dive! Although there were 152 Lakeland homes sold in February, average and median prices took a double digit steep decline. Distressed properties are still driving down market values with over 55% of market share.
Lakeland Homes sold in February: 152 - previous month: 145 – previous year February 09: 125 sold
February – average sales price $111,759
Previous month: $126,320 (- 11.53%) – previous year February 09: $132,802 (-15.85%)
February – median sales price $96,000
Previous month: $112,900 (-14.97%) – previous year February 09: $125,000 (23.2%)
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.
Lakeland homes sold that are priced right will sell quickly. In my analysis of last month activity shows that home owners, who have marketed their properties at the right price, achieve better results in less time. Here is a breakdown:
- 0-30 days – 96.87% average sold price/list price ratio
- 31-60 days – 95.64% average sold price/list price ratio
- 61-90 days – 92.35% average sold price/list price ratio
- 91-120 days – 97.03% average sold price/list price ratio
- 121+ days – 91.10% average sold price/list price ratio
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.
Distressed properties in Lakeland, Florida
For the month of February, Lakeland’s real estate market of distressed homes had a market share of 56%. There were a total of 85 properties sold in February, according to Mid-Florida Regional MLS.
Check back soon for February’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.
Update for the Lakeland FL Real Estate market! There are 1912 homes for sale throughout Lakeland, Florida – as of 03/09/10. The inventory of Lakeland homes for sale in the past few months hovers around 1900. Newly listed homes for the period of February 16th through February 28th decreased to 135 Lakeland homes for sale. The average sales price of Lakeland homes listed with area Realtors® increased to $165,281 from my previous report.
The types of homes and average prices for sale in Lakeland, Florida according to the Multiple Listing Services (MLS) are as follows:
4 duplex units with a sales price of $138,425
4 condos listed with an average sales price of $61,325
10 mobile homes listed with an average sales price of $56,310
4Townhomes/Villas listed with an average sales price of $177,587
113 single family homes with an average price of $179,119
Lakeland’s newest homes listed! The priciest home on the market in Lakeland is a 2006 Hulbert custom built estate with pool features 5 bedrooms and 4 2½ baths with over 5,100 square feet of living space. This home is located in the Christina community and is offered at $1,899,000. On the contrary, the cheapest Lakeland home newly listed is a bank owned 3 bedrooms 2baths home listed for $16,400 – just over $12.00 per square foot – located in the Albert Park 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 – 14 with an average sales price of $93,598
33803 – 16 with an average sales price of $201,297
33805 – 11 with an average sales price of $88,218
33809 – 12 with an average sales price of $170,942
33810 – 31 with an average sales price of $107,023
33811 – 10 with an average sales price of $173,500
33812 – 06 with an average sales price of $219,667
33813 – 31 with an average sales price of $265,574
33815 – 04 with an average sales price of $39,152
Update on distressed homes in Lakeland
A total of 599 properties are currently actively being marketed that are facing foreclosure. There were 55 Lakeland homes newly listed in the distressed category with average prices of $101,305 or $61 per square foot. Distressed homes are categorized as “Bank-Owned”, “Require 3rd party approval (Short Sale)”, “Pre-foreclosure”, and “In-Foreclosure”.
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.
February update on Lakeland real estate “Sold & Pending”
So far 146 Lakeland properties have sold that have been recorded in the Multiple Listing. Currently, there are 533 Lakeland homes have gone to “pending”, awaiting closing.
Check back soon for your Lakeland Real Estate Market Report for February 2010!
Update for the Lakeland real estate market! Currently, there are 1901 homes for sale throughout Lakeland – as of 12/21/09. Newly listed homes for the period of December 1st through December 15th totaled 126 Lakeland homes recently came on the market. A 16% increase from the my previous report. The average sales price of Lakeland homes listed with area Realtors® increased to $200,409.
The types of homes and average prices just listed in Lakeland, Florida according to the Multiple Listing Services (MLS) are as follows:
1 duplex listed for $119,900
4 condos listed with an average sales price of $119,925
16 mobile homes listed with an average sales price of $79,284
1 Townhomes/Villas listed for $49,500
104 single family homes with an average price of $174,525
Lakeland’s newest homes listed! The priciest Lakeland real estate is a 1999 pool home; featuring 4 bedrooms and 4 ½ baths with 5,500 square feet of living space currently offered for $1,100,000 located in the Christina Community. On the contrary, the cheapest Lakeland home newly listed is a bank owned 3 bedroom 1 baths property listed for only $9,000 – just over $6.00 per square foot – located in the Richlawn subdivision and is in fact the cheapest home.
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 – 14 with an average sales price of $56,185
33803 –23 with an average sales price of $186,178
33805 – 09 with an average sales price of $87,888
33809 – 10 with an average sales price of $130,425
33810 – 21 with an average sales price of $110,200
33811 – 13 with an average sales price of $200,169
33812 – 07 with an average sales price of $179,400
33813 – 25 with an average sales price of $260,785
33815 – 04 with an average sales price of $53,025
Update on distressed homes in Lakeland
A total of 539 properties are currently actively being marketed that are facing foreclosure. There were 55 Lakeland homes newly listed in the distressed category with average prices of $111,484 or $68.33 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 December 1st through December 15th there have been 80 Lakeland homes sold so far reported with an average price of $126,137. Lakeland Real Estate under contract but have not closed (Pending) Lakeland homes that are in pending status are at 460.
For more information on the location of these newly listed 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.
