polk county real estate

Polk County Existing Home Sales for January 2010

Slow start of the overall Polk County Home Sales in January when comparing sales history for the past year. Although average Polk County home prices have somewhat been stable in recent months, the number of homes sold in Polk County took a nose dive when comparing the number of sales from the past few months. If you are a person that is visual like me, just take a look at the chart below to see what I’m talking about.  Please keep in mind, the figures reflect all homes as indicated below, not just single family homes you see in media reports.

500 existing homes sold – a decrease of 21% from the previous month (636 sold homes) in Polk County – an increase in sales activity of 111 Polk County homes sold from the previous year. Overall Polk’s median price for existing homes decreased by 1 ¾% from the previous month to $97,950, however remained almost the same from the previous year of $98,000.

Take a look at the city you live in and see what the numbers are for January 2010 for existing home sales – single family homes, condominiums, manufactured homes, duplex, villas, and townhomes -including distressed properties in Polk County. Please take note only sales recorded by Realtors® are taken into account. The source for this data is Mid-Florida Regional MLS Service, it is deemed reliable but not guaranteed.

City                        Average Sold Price          Median Sold Price           # of Homes Sold

AUBURNDALE	110,675	111,950	16
BARTOW	106,201	80,000	8
CLERMONT	88,000	88,000	1
DAVENPORT	117,716	110,000	122
DUNDEE	75,000	75,000	2
EAGLE LAKE	9,100	9,100	1
FORT MEADE	140,750	106,500	4
FROSTPROOF	64,283	63,000	3
HAINES CITY	91,398	79,900	32
KATHLEEN	40,000	40,000	1
KISSIMMEE	138,545	100,000	11
LAKE ALFRED	92,450	92,450	2
LAKE HAMILTON	60,500	60,500	2
LAKE WALES	64,199	45,000	19
LAKELAND	126,320	112,900	145
MULBERRY	108,136	118,620	14
POINCIANA	85,345	72,000	51
POLK CITY	38,451	47,000	3
WINTER HAVEN	112,701	91,000	63

Let me break down January 2010 Polk County existing homes sales into various categories:

• 447 Single family homes, townhomes, villas and ½ duplex – median sold price $103,000 – 148 Average Days to Closing
• 19 Condominiums – median sold price – $65,000 – 149 Average Days on Closing
• 34 Modular, manufactured/mobile homes in park/out of park – median sold price $56,500 – 233 Average Days to Closing

Let’s take a look at the distressed Polk County real estate market!

There were 183 existing homes sold, not categorized as distressed properties, at a median sold price of $130,000 with 206 average days to closing, which counted for almost 37% of our total sales. The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales counted for 63% of our total sales in Polk County for the month of January.

• 234 sold homes were Bank Owned – median price $79,450 – Average Days to Closing  81
• 83 sold homes were Short Sales – median price $102,000 – Average Days to Closing 247

polk county real estate

Polk County Existing Home Sales for December 2009

Overall Polk County Home Sales rose and prices fell in 2009 from the previous year.

Is this true in your neck of the woods?  I’m sure you heard about that this is a buyer’s market in the news and media outlets, but is it really? Real Estate still remains very local and real estate statistics in each town or even in each neighborhood/community could differentiate by a great margin resulting in a seller’s market. Therefore consulting with a local Realtor® with market knowledge and experience is essential to your home buying or home selling needs.

636 existing homes sold – an increase of 7.98% from the previous month (589 sold homes) in Polk County – an increase in sales activity of 185 Polk County homes sold from the previous year. Overall Polk’s median price for existing homes decreased by 4.59% from the previous month to $99,700 and declined 18% from the previous year of $122,000.

Take a look at the city you live in and see what the numbers are for December 2009 for existing home sales – single family homes, condominiums, manufactured homes, duplex, villas, and townhomes -including distressed properties in Polk County.  Please take note only sales recorded by Realtors® are taken into account. The source for this data is Mid-Florida Regional MLS Service, it is deemed reliable but not guaranteed.

City                              Average Sold Price          Median Sold Price           # of Homes Sold

ALTURAS	170,000	170,000	1
AUBURNDALE	130,567	119,000	18
BABSON PARK	125,000	125,000	1
BARTOW	124,190	116,000	10
CLERMONT	69,167	71,000	3
DAVENPORT	131,928	123,925	126
DUNDEE	89,100	89,900	5
EAGLE LAKE	64,500	64,500	2
FORT MEADE	70,000	50,000	3
FROSTPROOF	66,167	56,500	3
HAINES CITY	102,388	87,500	42
HOMELAND	54,900	54,900	1
KISSIMMEE	75,317	67,500	15
LAKE ALFRED	88,207	94,200	6
LAKE WALES	100,233	80,000	21
LAKELAND	123,866	113,950	194
MULBERRY	128,936	133,500	17
POINCIANA	81,444	74,950	80
POLK CITY	72,430	63,000	10
WINTER HAVEN	98,405	92,500	78

Let me break down December 2009 Polk County existing homes sales into various categories:

• 571 Single family homes, townhomes, villas and ½ duplex – median sold price $105,100 – 150 Average Days on Market
• 26 Condominiums – median sold price – $72,250 – 136 Average Days on Market
• 38 Modular, manufactured/mobile homes in park/out of park – median sold price $52,750 – 181 Average Days on Market

Let’s take a look at the distressed Polk County real estate market!

There were only 258 existing homes sold, not categorized as distressed properties, at a median sold price of $125,000 with 162 average days on market, which counted for 41% of our total sales. The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales counted for 59% of our total sales in Polk County for the month of December.

• 300 sold homes were Bank Owned – median price $77,250 – Average Days on Market 45
• 78 sold homes were Short Sales – median price $110,140 – Average Days on Market 196

polk county real estate

Real Estate Market Update for Polk County – November 2009

I was recently asked by a reader why are my Real Estate Market Statistics being published later in the month. I simply replied that I want to be as accurate as I possibly can to my readers and followers.  Generally, I blog about my monthly Lakeland Real Estate Market Report around the 15th of each month for the preceding month and for my Polk County Real Estate Market towards the end of the month.

Generating monthly market reports too early can lead to erroneous statistics which I learned the hard way.  Realtors® get their information from the Multiple Listing Service (MLS) and although we have to input listings, changes to a listing and information when a property was sold within a short time, real estate agents fail to report the data in a timely manner.

As far as my Polk County market reports concerns,  the same thing applies for reporting requirements from each real estate agent and with thousands of properties being listed in the MLS and hundreds of listings sold every month, accuracy and timing of my Real Estate Market reports is important to me.  And for an added bonus, I wait until I receive the National and Florida Real Estate Market Report so you’ll see not only what happens in Polk County, but on state and national level as well.

So without further ado, here is my real estate update for the month of November 2009 in and around Polk County.

The National Association of Realtors® reports that existing homes sales remained very strong for the month of November giving credit for the first time homebuyers program. The Florida Association of Realtors® reports that existing home sales rose 61% in November from the previous year, showing for the past 15 months that overall real estate sales in the State of Florida have increased.  While much credit is given for the extended and expanded homebuyers tax credit for the increased sales activity in the past, the decline in home values and sales prices resulting from the increased sales of distressed properties and foreclosures.

Florida’s median sales price for existing homes last month continued downwardly to $139,000 for a 12% ($158,200) decrease from the previous year and less than 1% ($140,300) from the previous month.

The Polk County’s overall housing prices improved slightly.

589 existing homes sold – a slight decrease of 3.6% from the previous month (612 sold homes) in Polk County – an increase in sales activity of 220 Polk County homes sold from the previous year. Overall Polk’s median price for existing homes increased from the previous month to $104,900; however, dipped 17% from the previous year of $127,000.

Take a look at the city you live in or want to move to and see what the numbers are for November 2009 for existing home sales – single family homes, condominiums, manufactured homes -including distressed properties in Polk County.

City                            Average Sold Price     Median Sold Price   # of Homes Sold

AUBURNDALE	110,156	125,000	21
BARTOW	92,496	79,000	21
CLERMONT	54,833	62,500	3
DAVENPORT	137,355	132,500	110
DUNDEE	78,342	86,625	3
EAGLE LAKE	82,425	88,350	4
FORT MEADE	74,467	67,500	6
FROSTPROOF	103,925	70,000	6
HAINES CITY	118,744	115,000	43
HOMELAND	27,500	27,500	1
INDIAN LAKE ESTATES	43,000	43,000	1
KATHLEEN	160,000	160,000	1
KISSIMMEE	99,265	70,000	17
LAKE ALFRED	89,283	97,350	6
LAKE WALES	79,657	57,500	14
LAKELAND	122,591	119,000	174
MULBERRY	112,090	125,100	25
POINCIANA	94,498	79,500	57
POLK CITY	50,667	50,000	3
WINTER HAVEN	102,082	90,000	73

Let’s take a look at the distressed Polk County real estate market!

Distressed properties, which includes Bank owned, pre-foreclosure, in foreclosure and short sales count for 57% of our total sales in Polk County for the month of November.

• 250 sold homes were Bank Owned – median price $75,000 – Days on Market 26
• 80 sold homes were Short Sales – median price $115,500 – Days on Market 111

The 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”.

For all of your Polk County home search, click on the search picture below:

polk county real estate

September Homes Sales rise overall in Polk County

The Polk County Florida housing market rose overall in September with 596 existing home sold – an increase of 8% from the previous month (551 sold homes) in Polk County – an increase in sales activity of 25% from the previous year. Overall Polk’s median price for existing homes increased by a small margin from the previous month to $102,227; however, dipped 27% from the previous year of $139,900.

Take a look at the city you live in and see what the numbers are for September 2009 for existing home sales – single family homes, condominiums, manufactured homes -including distressed properties in Polk County.

City                                             Average Sold Price          Median Sold Price           # of Homes Sold

AUBURNDALE	99,111		92,000	23
BABSON PARK	285,000		285,000	1
BARTOW	79,453	80,000		15
CHAMPIONS GATE	150,000	150,000		1
DAVENPORT	136,818	121,000		133
DUNDEE	91,167	83,500		3
EAGLE LAKE	155,000	155,000		1
FORT MEADE	36,680	30,000		5
FROSTPROOF	22,000	22,000		1
HAINES CITY	98,482	78,000		28
HIGHLAND CITY	65,000	65,000		1
INDIAN LAKE ESTATES	37,000	37,000		1
KISSIMMEE	109,117	88,000		19
LAKE ALFRED	107,200	98,000		5
LAKE WALES	98,896	80,000		25
LAKELAND	129,025	121,000		183
MULBERRY	96,436	102,555		15
POINCIANA	79,361	70,000		61
POLK CITY	93,178	62,347		7
SOLIVITA	185,000	185,000		1
WINTER HAVEN	107,469	99,500		67

Let’s take a look at the distressed Polk County real estate market!

Distressed properties, which includes Bank owned, pre-foreclosure, in foreclosure and short sales count for 62% of our total sales in Polk County for the month of September.

• 281 sold homes were Bank Owned – median price $74,200 – Days on Market 31
• 89 sold homes were Short Sales – median price $114,000 – Days on Market 141

The 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”.

Florida overall real estate statistics

The Florida Association of Realtors® reports that existing home sales rose 34% in September from the previous year and a 4.1% increase from the previous month. Florida’s median home price continues to stumble with distressed properties dictating the housing market – Florida’s median sales price for existing homes last month dipped to $142,000 for a 34% decrease from the previous year and 3.66% from the previous month.

polk county real estate

What exactly do National and Florida home sales statistics for August 2009 really say?

This real estate market report covering not only the Lakeland real estate market, it  specifically covers the whole real estate market in  Polk County.  It was published in the October 3, 2009 edition of Polk Homes of The Ledger.  I realize that some of my readers do not subscribe to The Ledger and therefore missed out on my article. So without further ado, here is the unedited version of my article with links to various sites for your information.

The National Association of Realtors® reported a decline in existing home sales in four regions. The seasonally adjusted sales declines were as follows:

• Northeast –  existing home sales fell 2.2%
• Midwest – sales dipped by 6.6%
• South – sales decreased by 3.1%
• West – sales declined 2.7%

What do the stats really say? Absolutely nothing! It is like talking about the national weather forecast – there is nothing to write about. Let me examine the real estate statistics reported from the Florida Association of Realtors® (FAR). They report that existing homes sales rose 28% compared to August 2008. Again, nothing more than the Florida weather report – nothing to write about. Often these published statistics lead to more questions, such as how many of these homes were short sales, bank owned properties, or regular sales. None of this is reported nationally and state wide.

I’ve had my share doing market reports for Polk County and Lakeland real estate in the past and always expressed what is exactly selling. Real estate is very local and the housing report, according to the Multiple Listing Service (MLS) for the month of August is as follows:

551 existing home sold – a decrease of 7.7% from the previous month (597 sold homes) in Polk County – an increase in sales activity of 22% from the previous year. Overall Polk’s median price for existing homes declined almost 6.5% from the previous month to $101,000 and dipped 27% from the previous year of $138,950.

At the time of this report, there were a total of 6106 properties for sale and 1748 properties currently under contract that have not closed. Where is the real estate market headed? Real Estate professionals use an absorption rate – though not an exact science, it is based on current and pending inventory and recent sales. Taking all the figures into consideration, we currently have about 15 month of supply – a true buyer’s market.

Let me break it down even further for you. I’m sure you’d like to know how your city was performing in August 2009 for existing home sales – single family homes, condominiums, manufactured homes -including distressed properties in Polk County.

City                                     Average Sold Price          Median Sold Price           # of Homes Sold

AUBURNDALE	137,338	117,000	13
BARTOW	85,433	51,500	12
DAVENPORT	124,509	110,000	103
DUNDEE	73,500	73,500	2
EAGLE LAKE	74,500	74,500	1
FORT MEADE	29,900	29,900	1
FROSTPROOF	73,833	80,000	3
HAINES CITY	146,554	115,000	35
INDIAN LAKE ESTATES	115,000	115,000	1
KISSIMMEE	86,919	91,750	20
LAKE ALFRED	97,663	98,500	8
LAKE WALES	113,364	114,500	22
LAKELAND	136,324	130,000	166
MULBERRY	130,492	137,950	12
POINCIANA	80,132	69,900	77
POLK CITY	49,057	49,100	7
WAVERLY	17,500	17,500	1
WINTER HAVEN	137,597	105,200	67

Let me share with you what the National Association of Realtors® and Florida Association of Realtors® doesn’t tell you – the distressed market!

Distressed properties, which includes Bank owned, pre-foreclosure, in foreclosure and short sales count for 53% of our total sales in Polk County for the month of August.

223 sold homes were Bank Owned – median price $79,000

70 sold homes were Short Sales – median price $115,000

Last year August 2008, there were 111 properties sold as distressed properties – an increase of 164%

Buying distressed properties can be very time consuming and tedious. Are you looking for a great deal and overwhelmed with an abundance of inventory on the market. Hire a local Realtor®, who knows the local market and is working diligently for you to get the best deal.

The data 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”.

polk county real estate

Lakeland Real Estate – What Polk County’s Real Estate Future Holds

Lakeland real estate – The National Association of Realtors® reported that existing home sales declined 12.2% in March 2009, the Florida Association of Realtors® reports an increase of 30% or 13,085 existing homes sold from the year prior.

The median sales prices continued to slide for March from the previous year for existing homes on the national level to $175,200 (12.4%), state wide to $141,300 (30%), and Polk County to $99,900 (35%). Below are some other counties with their median home sold prices for March 2009 for you to compare.

• Brevard County – $137,500
• Hillsborough County – $143,000
• Pasco County – $111,550
• Osceola County – $119,900
• Pinellas County – $135,900
• Orange County – $137,100

Polk County home sales were up as it shows in Lakeland, Florida according to the Mid-Florida Multiple Listing Service (MLS), 571 existing homes were sold in Polk County – an increase in sales of 21.37% from the previous year and 22% from the previous month.

While working as a Lakeland Realtor® the predominant question I’m asked by sellers, buyers, and people on the streets is “When will the housing market rebound?” Well, I’m not an economist and surely, no one really knows and if you ask three economists right now, you more than likely will get three different answers. I am, however, realistic and honest about when I’m asked this question, when I say that the Real Estate Market will not change all that much during the course of this year or even next year.

While I do know that the housing market is very local in each state, each city and in some areas each neighborhood, let me break it down even further for you. I’m sure you’d like to know how your city is performing in Polk County, Florida

City                                        Average Sold Price          Median Sold Price           # of Homes Sold

AUBURNDALE	109,324	110,000	21
BABSON PARK	155,000	195,000	3
BARTOW	114,182	73,100	13
CLERMONT	48,000	48,000	1
DAVENPORT	142,037	131,100	104
DUNDEE	105,500	105,500	2
EAGLE LAKE	144,200	144,200	1
FORT MEADE	31,500	31,500	2
FROSTPROOF	79,781	72,250	8
HAINES CITY	108,025	102,900	27
INDIAN LAKE ESTATES	77,500	62,500	4
KISSIMMEE	78,426	61,000	26
LAKE ALFRED	104,429	115,000	7
LAKE HAMILTON	181,168	181,168	2
LAKE WALES	90,448	72,500	23
LAKELAND	135,632	123,500	155
LAKESHORE	27,000	27,000	1
MULBERRY	110,513	115,250	18
POINCIANA	81,931	71,500	73
POLK CITY	124,688	129,000	8
WINTER HAVEN	98,157	87,250	72

While there is definitely a great time to buy, is there also a good time to sell?

The housing bubble of 2005 here in Polk County and its surrounding cities, such as Lakeland, Florida was manifested by increased home values we’ve never seen before, as much as 10%, 20% even 25% and these values were not maintainable in other areas as well much like around the country. Homeowners have expressed that they would rather wait until the market comes back – Interesting, how long are they going to wait?

The fact of the matter is that values have dropped considerable since the housing boom of 2005; depending in what town you live in. Have we reached bottom? Anybody could speculate at this time, but it seems to me that sellers are worried about their lost equity, their unwillingness to part with the lost equity in their current home, although they would buy another home under these same conditions.

Let’s look at another way to rationalize the Real Estate market and what kind of appreciation is necessary to get back to where we were at the market peak is to look at stocks.

For example, you purchase a stock for $100 dollars and it loses value by 25%. The stock is now worth $75 dollars. Many would incorrectly assume that if the stock goes back up by 25% it would be worth $100 again. WRONG – it would be worth $93.75. The stock needs to appreciate around 33.5% just to get back to break even! It works the same way with housing folks but on a larger scale.

If you owned a home worth $300,000 in 2005 and it has dropped by 25% it is now worth $225,000. Well guess what if the market goes up 25% the home will be worth $281,250. Still some way off from $300,000!

In a more healthy and stabilized market, economists predict that once we do finally hit bottom we will only see a more historical adjustment of 2-3% yearly appreciation on our homes. The slower the rebound, the healthier the Real Estate Market will be in the future. It will take some time to get to the levels prior to the market correction.

Wanting to sell your home should not be based on lost equity you once had on paper, if you really want to move.

Interest rates are at an all time low and this will not last forever.   While it may take years before we get back to the levels of 2005, what are the chances interest rates will be as low as they are today? Remember, as your home appreciates, other Lakeland real estate values will do the same.