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.
Lakeland real estate sales activity in September reached its second highest level this year. A total of 183 homes were sold increase of 9% from the previous month of 166. Last year’s activity, home sales increased by 16% from September 2008 in Lakeland, Florida.
Lakeland home sale prices troubles the Lakeland real estate market
Median prices dipped for September to $121,000 or 7% for homes sold in Lakeland when comparing to the previous month. Average sold prices decreased to $129,025 ($72.18 per sq.ft.) or 5.35% from the previous month and 21% from the previous year, respectively.
- Average Lakeland Sold price for September 2008 – $164,462 – decrease of 21%
- Median Lakeland sold price for September 2008 – $149,900 – decrease of 19%
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.
Distressed properties in Lakeland, Florida
For the month of September, distressed homes, such as Lakeland Short Sales, pre-foreclosures, in foreclosures and bank-owned (REO) properties had a market share of 54% in the Lakeland Real Estate market. There were a total of 98 properties sold in September compared to 43 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.
- Average days on market (DOM) for bank-owned properties are 85 days
- Average days on market (DOM) for other distressed properties, such as Lakeland short sale homes are 183 days.
27 Distressed Homes Sold – average sold price $147,775 – $71.76 per sq.ft.
71 Bank-owned (REO) sold – average sold price $95,380 – $53.30 per sq.ft.
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?
| Lakeland | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Grand Total |
| 33801 |
20 |
12 |
15 |
21 |
13 |
16 |
17 |
12 |
20 |
146 |
| 33803 |
11 |
10 |
16 |
18 |
16 |
19 |
26 |
19 |
22 |
157 |
| 33805 |
12 |
11 |
12 |
9 |
5 |
10 |
14 |
14 |
8 |
95 |
| 33809 |
13 |
12 |
16 |
11 |
18 |
17 |
16 |
17 |
25 |
145 |
| 33810 |
25 |
31 |
34 |
31 |
46 |
37 |
40 |
33 |
42 |
319 |
| 33811 |
10 |
16 |
17 |
18 |
18 |
22 |
20 |
15 |
22 |
158 |
| 33812 |
10 |
5 |
8 |
13 |
7 |
9 |
16 |
15 |
10 |
93 |
| 33813 |
9 |
25 |
27 |
28 |
26 |
33 |
35 |
38 |
29 |
250 |
| 33815 |
5 |
3 |
7 |
5 |
7 |
6 |
4 |
3 |
5 |
45 |
| Grand Total |
115 |
125 |
152 |
154 |
156 |
169 |
188 |
166 |
183 |
1408 |
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.
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.
Let me share with you some positive signs in the Lakeland Real Estate market. First of all, since January there has been a constant, but moderate increase in the amount of homes sold and average home sold prices, which has echoed through March 2009.
While the average sales price of $135,889 ($71.51 per sq.ft.) for March fell 19% from the previous year, it showed a sensible increase of 2 ¼% from the previous month. There was also an increase in properties sold, 152 Lakeland properties were sold in March compared to 125 homes sold the previous month. The last time we have seen about that many homes sold in Lakeland was September 2008 – 157 homes sold to be exact.
What is selling in Lakeland?
It is still the same for the past few month, the distressed homes and more importantly the bank-owned (REO) properties dominate the sales activities here in Lakeland with 68 properties sold in March.
With close to 2485 properties currently for sale and pending, we are experiencing an 18 month of supply for the regular homes and distressed homes.
Let’s break it down for you to see the supply and demand for common properties for sale versus the distressed market.
Common properties only – Inventory active and pending 1815 homes resulting in 24 month of supply.
Distressed properties – Inventory active and pending 671 homes resulting in an 11 month supply.
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 was 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?
Lakeland Market Report for Distressed Homes
Distressed properties are homes in pre-foreclosure, foreclosure, bank-owned, as well as short sales.
These types of homes continue to dominate our real estate market here in Lakeland Florida as well as throughout Polk County, so it is important for you to see what is driving down the home prices, but more importantly our home values.
Of the 152 homes sold last month in Lakeland, 68 distressed homes were sold with an average sales price of $115,009 ($61.87 per sq.ft.) compared to only 25 homes that were sold the previous year, due to Short Sales and/or Foreclosures. A side note for you, 51 out of 68 properties were bank-owned (REO) and these homes make up almost 50% in total sales in Lakeland, Florida.
There are currently 487 homes facing foreclosure.
184 homes are in pending status waiting for bank or lender approval to close.
So, are we out of the Woods yet?
Not so fast! Although buyers starting to jump over the fence, there is still fear, not necessarily about buying a home, but perspective buyers fearing job security and the economy itself. With increased home prices and home sales, the average sold price compared to the list price was only 92% and that was only the first quarter of the year; we still have three quarters left. Until sellers come to the realization that home prices are still in need to being adjusted the buyer is continuing to sit on the other side of the fence.
For more information on the location of these sold properties 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 – 72 properties sold – average sold price $98,157 – average $58.49 per sq.ft.
Bartow – 13 properties sold – average sold price $114,181 average $61.81 per sq.ft.
Mulberry – 18 properties sold – average sold price $110,513 – average $59.19 per sq.ft.
Auburndale – 20 properties sold – average sold price $111,940 – average $69.38 per sq.ft.
Polk City – 8 properties sold – average sold price $124,687 – $81.99 per sq.ft.
Lake Alfred – 7 properties sold – average sold price $104,428 – $59.02 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.
