Overall Average Polk County existing home prices increased from the previous month to $105,365 by a almost 1%. Polk County FL overall existing median prices have increased as well to $90,000 compared to $82,140 from August 2011 and for a long time an increase from the previous year. However, Polk County’s overall existing number of home sales in September decreased to a total of 588, compared to 641 Polk County Homes sold in August 2011. .
A look back in history of Polk County’s overall existing median home prices compared to September 2011 median price of $90,000:
September 2005 – median price $182,500 (-50.68%) – 930 homes sold
September 2006 – median price $185,000 (-51.35%) – 634 homes sold
September 2007 – median price $170,000 (-47.06%) – 343 homes sold
September 2008 – median price $139,900 (-35.67%) – 476 homes sold
September 2009 – median price $103,000 (-12.62%) – 601 homes sold
September 2010 – median price $85,000 (5.88%) – 628 homes sold
Take a look at the city you live in and see what the numbers are for September 2011 for existing home sales – single-family homes, condominiums, manufactured homes, duplex, villas, and town homes -including distressedhomes 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 | 95,541 | 90,000 | 19 |
| BABSON PARK | 525,000 | 525,000 | 1 |
| BARTOW | 73,561 | 49,950 | 18 |
| BRADLEY | 23,000 | 23,000 | 1 |
| DAVENPORT | 126,433 | 118,250 | 114 |
| DUNDEE | 71,945 | 72,000 | 3 |
| EAGLE LAKE | 87,000 | 84,000 | 3 |
| FORT MEADE | 54,134 | 44,990 | 3 |
| FROSTPROOF | 91,200 | 30,000 | 5 |
| HAINES CITY | 94,559 | 90,000 | 27 |
| INDIAN LAKE ESTATES | 52,000 | 52,000 | 1 |
| KISSIMMEE | 101,080 | 84,000 | 11 |
| LAKE ALFRED | 89,667 | 111,000 | 3 |
| LAKE HAMILTON | 32,500 | 32,500 | 1 |
| LAKE WALES | 76,610 | 53,500 | 26 |
| LAKELAND | 114,886 | 100,000 | 186 |
| MULBERRY | 108,481 | 105,000 | 16 |
| POINCIANA | 84,024 | 75,000 | 51 |
| POLK CITY | 68,632 | 49,900 | 5 |
| WINTER HAVEN | 95,906 | 82,000 | 94 |
What did Polk County Home Buyers buy?
116 homebuyers bought at a price range of $49,999 and below
209 home buyers bought at a price range of $50,000 – $99,999
148 home buyers bought at a price range of $100,000 – $149,999
72 home buyers bought at a price range of $150,000 – $199,999
14 home buyers bought at a price range of $200,000 – $249,999
10 home buyers bought at a price range of $250,000 – $299,999
12 home buyers bought at a price range of $300,000 – $349,999
2 home buyers bought at a price range of $350,000 – $399,999
3 home buyers bought at a price range of $400,000 – $499,999
2 home buyers bought at a price range of $500,000 – $599,999
September sales in Polk County was even between foreclosures and short sales vs. traditional sales.
Most of Polk County home buyers paid cash, in fact 52% of all home buyers in Polk County paid cash.
Let me break down September 2011 Polk County existing homes sales into various categories:
- 507 Single family homes – median price $100,000 – 178 Average Days to Closing
- 21 Town homes, villas and duplex units – median price $55,949 – 155 Average Days to Closing
- 26 Condominiums – median sold price – $49,750 – 127 Average Days on Closing
- 35 Modular, manufactured/mobile homes in park/out of park – median sold price $35,100 – 168 Average Days on Closing
Overall Polk County’s Foreclosure and Short Sales Prices – September 2011!
There were 292 existing Polk County homes sold, not categorized as distressed properties, at a median sold price of $113,500 with 174 average days to closing. Traditional sales (equity sales) counted for almost 49.66% of our total sales.
The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales continues to dictate the Polk County real estate market as it accounted for 50.34% of our total sales for the month of September.
- 157 sold homes were foreclosures/REO Bank Owned – median price $64,934 – Average Days to Closing 109.
- 139 sold homes were Short Sales – median price $86,000 – Average Days to Closing 249.
Overall Polk County Existing Home Prices – June 2011
Overall Average Polk County home prices decreased from the previous month to $100,625 by almost 2%. Polk County’s overall existing home sales in June declined to a total of 660, compared to 683 Polk County Homes sold in May 2011.
A look back in history of Polk County’s overall existing median home prices:
June 2005 – median price $170,000 (-50.00%) – 1029 homes sold
June 2006 – median price $185,000 (-54.05%) – 874 homes sold
June 2007 – median price $184,000 (-53.80%) – 511 homes sold
June 2008 – median price $155,000 (-45.16%) – 500 homes sold
June 2009 – median price $104,000 (–18.27%) – 587 homes sold
June 2010 – median price $94,900 (-10.43%) – 831 homes sold
Overall median sales decreased also by 2.30% to $85,000 from the month prior for homes that were sold in Polk County. Take a look at the city you live in and see what the numbers are for June 2011 for existing home sales – single-family homes, condominiums, manufactured homes, duplex, villas, and town homes -including distressed homes 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 | 165,498 | 104,000 | 17 |
| BABSON PARK | 72,000 | 72,000 | 2 |
| BARTOW | 82,364 | 60,000 | 24 |
| CLERMONT | 55,000 | 55,000 | 1 |
| DAVENPORT | 127,603 | 125,000 | 136 |
| DUNDEE | 56,667 | 75,000 | 3 |
| EAGLE LAKE | 48,255 | 46,060 | 4 |
| FORT MEADE | 37,000 | 37,000 | 2 |
| FROSTPROOF | 64,225 | 40,000 | 4 |
| HAINES CITY | 86,185 | 85,000 | 38 |
| KISSIMMEE | 119,940 | 89,900 | 13 |
| LAKE WALES | 103,687 | 85,000 | 31 |
| LAKELAND | 94,891 | 80,495 | 222 |
| LAKESHORE | 19,900 | 19,900 | 1 |
| MULBERRY | 70,846 | 60,000 | 13 |
| POINCIANA | 73,966 | 62,500 | 49 |
| POLK CITY | 121,192 | 91,750 | 6 |
| WINTER HAVEN | 95,299 | 73,500 | 94 |
What did Polk County Home Buyers buy?
146 homebuyers bought at a price range of $49,999 and below
248 home buyers bought at a price range of $50,000 – $99,999
149 home buyers bought at a price range of $100,000 – $149,999
63 home buyers bought at a price range of $150,000 – $199,999
26 home buyers bought at a price range of $200,000 – $249,999
14 home buyers bought at a price range of $250,000 – $299,999
7 home buyers bought at a price range of $300,000 – $349,999
4 home buyers bought at a price range of $350,000 – $399,999
3 home buyers bought at a price range of $400,000 – $499,999
Around 55% of buyers bought the majority of the Polk County homes that were listed as REO/foreclosures and Short Sales.
Almost 54% of all home buyers in Polk County paid cash.
Let me break down June 2011 Polk County existing homes sales into various categories:
541 Single family homes – median price $94,250 – 179 Average Days to Closing
43 Town homes, villas and duplex units – median price $56,000 – 175 Average Days to Closing
29 Condominiums – median sold price – $67,000 – 171 Average Days on Closing
47 Modular, manufactured/mobile homes in park/out of park – median sold price $40,100 – 171 Average Days on Closing
Overall Polk County’s Foreclosure and Short Sales Prices – June 2011!
There were 296 existing Polk County homes sold, not categorized as distressed properties, at a median sold price of $115,250 with 177 average days to closing. Traditional sales counted for almost 45.85% of our total sales.
The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales continues to dictate the Polk County real estate market as it accounted for 54.15% of our total sales for the month of June.
226 sold homes were foreclosures/REO Bank Owned – median price $67,551 – Average Days to Closing 120.
138 sold homes were Short Sales – median price $75,500 – Average Days to Closing 274.
Polk County Real Estate Market Update – February 2011
Polk County’s overall existing home sales increased to a total of 653 Polk County Homes sold in February. Overall Average Polk County home prices still declining from theprevious month to $93,705 by 5%.
A look back in history of Polk County’s overall existing median home prices:
- February 2006 – median price $180,750 (-58.56%) – 672 homes sold
- February 2007 – median price $180,000 (-58.39%) – 476 homes sold
- February 2008 – median price $157,000 (-52.29%) – 315 homes sold
- February 2009 – median price $101,000 (-25.84%) – 453 homes sold
- February 2010 – median price $85,400 (-12.30%) – 607 homes sold
653 existing homes sold – a 20% increase from the previous month (545) sold homes in Polk County, FL.
Overall median sales decreased also by 6.38% to $74,900 for homes that were sold in Polk County. Take a look at the city you live in and see what the numbers are for February 2011 for existing home sales – single-family homes, condominiums, manufactured homes, duplex, villas, and town homes -including distressed homes 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 |
83,781 |
58,000 |
17 |
|
BABSON PARK |
52,000 |
52,000 |
1 |
|
BARTOW |
41,063 |
29,925 |
12 |
|
BRADLEY |
25,000 |
25,000 |
1 |
|
CLERMONT |
49,000 |
49,000 |
2 |
|
DAVENPORT |
108,490 |
97,500 |
142 |
|
DUNDEE |
60,400 |
62,000 |
7 |
|
EAGLE LAKE |
58,625 |
46,750 |
4 |
|
FORT MEADE |
109,948 |
46,338 |
5 |
|
FROSTPROOF |
41,670 |
32,500 |
10 |
|
HAINES CITY |
85,985 |
67,000 |
41 |
|
KISSIMMEE |
69,718 |
65,625 |
20 |
|
LAKE ALFRED |
57,333 |
45,000 |
6 |
|
LAKE HAMILTON |
34,050 |
34,050 |
2 |
|
LAKE WALES |
75,795 |
57,750 |
29 |
|
LAKELAND |
94,488 |
79,950 |
192 |
|
LAKESHORE |
14,900 |
14,900 |
1 |
|
MULBERRY |
85,657 |
78,175 |
10 |
|
POINCIANA |
79,726 |
69,950 |
65 |
|
POLK CITY |
48,000 |
49,000 |
5 |
|
WAVERLY |
58,000 |
58,000 |
1 |
|
WINTER HAVEN |
88,763 |
79,950 |
80 |
What did Polk County Home Buyers buy?
163 homebuyers bought at a price range of $49,999 and below
278 home buyers bought at a price range of $50,000 – $99,999
136 home buyers bought at a price range of $100,000 – $149,999
46 home buyers bought at a price range of $150,000 – $199,999
12 home buyers bought at a price range of $200,000 – $249,999
6 home buyers bought at a price range of $250,000 – $299,999
8 home buyers bought at a price range of $300,000 – $349,999
2 home buyers bought at a price range of $350,000 – $399,999
1 home buyer bought at a price range of $400,000 – $499,999
1 home buyer bought at a price range of $900,000 – $999,999
Almost 65% of buyers were cash buyers who bought the majority of the Polk County homes that were listed as REO/foreclosures and Short Sales.
Let me break down February 2011 Polk County existing homes sales into various categories:
526 Single family homes – median price $83,900 – 164 Average Days to Closing
37 Town homes, villas and duplex units – median price $65,500 – 105 Average Days to Closing
33 Condominiums – median sold price – $50,000 – 215 Average Days on Closing
57 Modular, manufactured/mobile homes in park/out of park – median sold price $48,900 – 179 Average Days on Closing
Overall Polk County’s Foreclosure and Short Sales Prices – February 2011!
There were 225 existing Polk County homes sold, not categorized as distressed properties, at a median sold price of $86,100 with 199 average days to closing. Traditional sales counted for almost 34.50% of our total sales. The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales continues to dictate the Polk County real estate market as it accounted for 65.39% of our total sales for the month of February.
327 sold homes were foreclosures/REO Bank Owned – median price $65,900 – Average Days to Closing 116.
100 sold homes were Short Sales – median price $80,000 – Average Days to Closing 248.
Overall Polk County Existing Home Prices – January 2011
Polk County’s overall existing home sales slipped to a total of 545 Polk County Homes sold in January. Average home prices have also declined from the previous month to $93,705 by almost 12.50% resulting in a rough start for the Polk County housing market as traditional home sellers struggle to keep up with homes declining values.
A look back in history of Polk County’s overall existing median home prices:
- January 2006 – median price $180,000 (-55.56%) – 618 homes sold
- January 2007 – median price $189,500 (-57.78%) – 444 homes sold
- January 2008 – median price $154,350 (-48.17%) – 290 homes sold
- January 2009 – median price $98,000 (-18.37%) – 389 homes sold
- January 2010 – median price $97,950 (-18.33%) – 504 homes sold
545 existing homes sold – a 16% decrease from the previous month (648) sold homes in Polk County, FL.
Overall median sales decreased also by 11% to $80,000 for homes that were sold in Polk County. 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 town homes -including distressed homes 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 | 75,976 | 69,500 | 21 |
| BABSON PARK | 227,450 | 227,450 | 2 |
| BARTOW | 82,713 | 65,000 | 15 |
| CLERMONT | 42,500 | 42,500 | 1 |
| DAVENPORT | 115,072 | 101,975 | 102 |
| DUNDEE | 62,760 | 55,000 | 5 |
| EAGLE LAKE | 61,166 | 44,000 | 4 |
| FORT MEADE | 16,200 | 16,200 | 2 |
| FROSTPROOF | 78,500 | 78,500 | 2 |
| HAINES CITY | 77,540 | 75,000 | 34 |
| KISSIMMEE | 94,067 | 89,000 | 15 |
| LAKE ALFRED | 124,750 | 124,750 | 2 |
| LAKE HAMILTON | 120,000 | 120,000 | 1 |
| LAKE WALES | 63,276 | 53,750 | 16 |
| LAKELAND | 94,095 | 77,500 | 169 |
| MULBERRY | 98,892 | 115,000 | 17 |
| POINCIANA | 77,040 | 60,000 | 51 |
| POLK CITY | 43,160 | 45,000 | 5 |
| WINTER HAVEN | 99,916 | 81,000 | 81 |
What did Polk County Home Buyers buy?
147 homebuyers bought at a price range of $49,999 and below
198 home buyers bought at a price range of $50,000 – $99,999
121 home buyers bought at a price range of $100,000 – $149,999
40 home buyers bought at a price range of $150,000 – $199,999
16 home buyers bought at a price range of $200,000 – $249,999
13 home buyers bought at a price range of $250,000 – $299,999
3 home buyers bought at a price range of $300,000 – $349,999
5 home buyers bought at a price range of $350,000 – $399,999
1 home buyer bought at a price range of $400,000 – $499,999
1 home buyer bought at a price range of $500,000 – $599,999
Almost 60% of buyers were cash buyers who bought the majority of the Polk County homes that were listed as REO/foreclosures and Short Sales.
Let me break down January 2011 Polk County existing homes sales into various categories:
- 459 Single family homes – median price $88,000 – 161 Average Days to Closing
- 31 Town homes, villas and duplex units – median price $63,000 – 122 Average Days to Closing
- 24 Condominiums – median sold price – $51,250 – 157 Average Days on Closing
- 40 Modular, manufactured/mobile homes in park/out of park – median sold price $47,950 – 281 Average Days on Closing
Overall Polk County’s Foreclosure and Short Sales Prices – January 2011!
There were 168 existing Polk County homes sold, not categorized as distressed properties, at a median sold price of $108,750 with 217 average days to closing. Traditional sales counted for almost 31.00% of our total sales. The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales continues to dictate the Polk County real estate market as it accounted for 69% of our total sales for the month of January.
- 281 sold homes were foreclosures/REO Bank Owned – median price $65,000 – Average Days to Closing 107.
- 96 sold homes were Short Sales – median price $86,150 – Average Days to Closing 255.
Copyright © 2011 By Petra Norris * Polk County Overall Existing Home Prices – January 2011*
Overall Polk County FL Existing Home Prices for October 2010
Polk County’s overall existing home sales and prices declined from the previous month for the month of October with a total of 557 properties sold. The number of homes sold for October was the second lowest for this year, reasoning the recent foreclosure moratorium. The decline in home prices remains a constant in the overall existing housing market. According to the Florida Association of Realtors®, Florida’s median housing prices for existing single family homes in October was $136,600 down 3% from the previous year.
The graph below represents average Polk County Existing Home Sales.
A look back in history of Polk County’s existing home prices:
- October 2006 – median price $191,982 (-55.72%) – 630 homes sold
- October 2007 – median price $174,900 (-51.40%) – 395 homes sold
- October 2008 – median price $130,000 (-34.62%) – 444 homes sold
- October 2009 – median price $99,000 (-14.14%) – 617 homes sold
557 existing homes sold – a 11% decrease from the previous month (624) sold homes in Polk County, FL.
Overall sales remained the same at $85,000 in Polk’s median price for existing homes from the previous month however, the Polk’s median home price from the previous year is showing a double-digit decline by 14.14%. Take a look at the city you live in and see what the numbers are for October 2010 for existing home sales – single-family homes, condominiums, manufactured homes, duplex, villas, and town homes -including distressed homes 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 | 34,111 | 34,111 | 1 |
| AUBURNDALE | 104,162 | 89,900 | 19 |
| BABSON PARK | 85,000 | 85,000 | 1 |
| BARTOW | 59,244 | 31,777 | 15 |
| DAVENPORT | 108,400 | 94,500 | 118 |
| DUNDEE | 71,500 | 71,500 | 2 |
| EAGLE LAKE | 123,275 | 123,275 | 2 |
| EATON PARK | 20,000 | 20,000 | 1 |
| FORT MEADE | 55,500 | 55,500 | 2 |
| FROSTPROOF | 35,950 | 35,950 | 2 |
| HAINES CITY | 93,040 | 83,000 | 27 |
| KATHLEEN | 97,000 | 97,000 | 1 |
| KISSIMMEE | 96,443 | 71,950 | 22 |
| LAKE ALFRED | 146,940 | 69,300 | 5 |
| LAKE HAMILTON | 29,000 | 29,000 | 1 |
| LAKE WALES | 76,102 | 56,000 | 19 |
| LAKELAND | 114,532 | 90,000 | 166 |
| MULBERRY | 68,558 | 35,000 | 10 |
| POINCIANA | 95,547 | 76,500 | 42 |
| POLK CITY | 83,980 | 87,500 | 5 |
| WINTER HAVEN | 92,886 | 82,875 | 96 |
Let me break down October 2010 Polk County existing homes sales into various categories:
- 463 Single family homes – median price $94,900 – 149 Average Days to Closing
- 24 Town homes, villas and duplex units – median price $75,300 – 176 Average Days to Closing
- 34 Condominiums – median sold price – $55,600 – 147 Average Days on Closing
- 36 Modular, manufactured/mobile homes in park/out of park – median sold price $42,750 – 1821 Average Days on Closing
Overall Polk County’s Foreclosure and Short Sales Prices – October 2010!
There were 199 existing Polk County homes sold, not categorized as distressed properties, at a median sold price of $115,000 with 162 average days to closing, which counted for almost 35.73% of our total sales. The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales counted for 63.27% of our total sales in Polk County for the month of October.
- 252 sold homes were Bank Owned – median price $68,500 – Average Days to Closing 108.
- 106 sold homes were Short Sales – median price $86,500 – Average Days to Closing 237.
Overall Polk County Existing Home Prices for September 2010
Polk County’s overall existing home sales fell a fraction from the previous month for home prices and for numbers of homes sold for the Month of September with a total of 624 properties sold. The decline in home prices remains a constant in the overall existing housing market. Florida’s median housing prices for existing single family homes in September was $133,400 down 6% from the previous year. Prices continued to decrease downwards blaming it still widely on discounted distressed sales throughout, high unemployment rates and low consumer confidence.
A look back in history of Polk County’s existing home prices:
- September 2006 – median price $185,000 (-54.05%) – 633 homes sold
- September 2007 – median price $170,000 (-50.00%) – 342 homes sold
- September 2008 – median price $139,900 (-39.24%) – 476 homes sold
- September 2009 – median price $102,555 (-17.12%) – 599 homes sold
624 existing homes sold – a slight increase from the previous month (637 sold homes) in Polk County, FL.
Overall sales decreased marginally by 3.41% to $85,000 in Polk’s median price for existing homes from the previous month of $88,000, however, the Polk’s median home price from the previous year is showing a double-digit decline by 17.12%. Take a look at the city you live in and see what the numbers are for September 2010 for existing home sales – single-family homes, condominiums, manufactured homes, duplex, villas, and townhomes -including distressed homes 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 | 72,100 | 75,200 | 19 |
| BABSON PARK | 119,225 | 87,450 | 4 |
| BARTOW | 94,523 | 107,000 | 13 |
| CLERMONT | 70,000 | 70,000 | 1 |
| DAVENPORT | 114,523 | 100,000 | 132 |
| DUNDEE | 71,200 | 80,000 | 5 |
| EAGLE LAKE | 39,883 | 35,250 | 3 |
| FORT MEADE | 74,750 | 74,750 | 2 |
| FROSTPROOF | 25,000 | 25,000 | 1 |
| HAINES CITY | 120,948 | 106,500 | 28 |
| INDIAN LAKE ESTATES | 43,000 | 43,000 | 1 |
| KISSIMMEE | 107,798 | 73,000 | 19 |
| LAKE ALFRED | 58,838 | 61,000 | 7 |
| LAKE HAMILTON | 27,326 | 27,750 | 3 |
| LAKE WALES | 73,939 | 59,450 | 18 |
| LAKELAND | 120,143 | 100,000 | 195 |
| MULBERRY | 76,428 | 42,000 | 11 |
| POINCIANA | 77,479 | 70,000 | 63 |
| POLK CITY | 36,040 | 33,000 | 5 |
| WINTER HAVEN | 85,874 | 79,200 | 94 |
Let me break down September 2010 Polk County existing homes sales into various categories:
- 532 Single family homes – median price $92,805 – 159 Average Days to Closing
- 29 Townhomes, villas and duplex units – median price $51,500 – 143 Average Days to Closing
- 33 Condominiums – median sold price – $57,000 – 139 Average Days on Closing
- 30 Modular, manufactured/mobile homes in park/out of park – median sold price $34,000 – 171 Average Days on Closing
Overall Polk County’s Foreclosure and Short Sales Prices – September 2010!
There were 191 existing Polk County homes sold, not categorized as distressed properties, at a median sold price of $117,500 with 173 average days to closing, which counted for almost 30.61% of our total sales. The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales counted for 69.39% of our total sales in Polk County for the month of September.
- 323 sold homes were Bank Owned – median price $69,900 – Average Days to Closing 114.
- 110 sold homes were Short Sales – median price $79,750 – Average Days to Closing 259.
Article originally published in Polk Homes of The Ledger’s Media edition
Copyright © 2010 By Petra Norris * Overall Polk County Existing Home Prices for September 2010*
Lakeland – Winter Haven Florida Worst City for Real Estate Investing – I beg to differ.
Just recently I read Ms. Levy’s Forbes blog about Lakeland-Winter Haven Florida being the worst city of real estate investing. This article did not sit well with me and I did read it more than once. While the national news is saturated with negative housing news, remember real estate is local and when it comes Lakeland-Winter Haven, FL (Polk County) I felt I needed to clarify a thing or two.
Below is the quote from her blog:
“I know something else about it, too. Glittering ponds or no, you should not buy a home in the Lakeland-Winter Haven Metropolitan Statistical Area if you’re interested in selling it at a profit any time soon, according to new data from Cary, N.C.-based Local Market Monitor (LMM), a real estate research firm”.
Ms. Levy failed to mention a timeline other than the generic timeline of “any time soon”. If she is referring about flipping a property within 6-12 months, I would have to agree.
I beg to differ otherwise. I think the Lakeland-Winter Haven (Polk County) area is a great place to invest in Real Estate and definitely a great place to live, prices are low and if you are wiling to hang on to a property – and that is the most determining factor and rent it out or do owner financing, it is definitely worth it. As a Realtor® I would never advise an investor to flip a property in today’s market and the experienced investor is well aware of the situation in the Lakeland-Winter Haven (Polk County) area.
From an investor’s standpoint of view, I want to point out that of all the Lakeland-Winter Haven, FL (Polk County) homeowners who are delinquent in their mortgage payment should give indication that the amount of renters coming into the rental market is increasing. Along with tightening lending requirements, many borrowers who were qualified earlier to buy a home, may not be qualified now. Adding to this mortgage mess, record unemployment rates, bankruptcy, and divorce – surely not everyone can move back to mom and dad.
This makes this a great scenario for an investor who is willing to buy cheap homes in Lakeland-Winter Haven (Polk County) area as there is a growing number of prospective tenants looking to rebuild their lives and their credit, all this while holding on to their investment.
This simple statement by Warren Buffett applies not only in the stock market; it also applies to real estate investing:
“Be fearful when others are greedy, and be greedy when others are fearful.”
In today’s Real Estate Market – bad news is good news; it lets you invest a slice of America’s dream at a much-discounted price.
Copyright © 2010 By Petra Norris *Lakeland – Winter Haven Florida Worst City for Real Estate Investing – I beg to differ
Overall Polk County Existing Home Prices for August 2010
Polk County’s overall existing home sales inched up a bit for numbers of homes sold for the Month of August with a total of 637 properties sold. The decline in home prices remains a constant in the overall existing housing market. Florida’s median housing prices for existing homes in August was $134,000 down 9% from the previous year. Prices continue to decrease downwards blaming it still widely on discounted distressed sales throughout the county from the previous year and years’ prior and high unemployment rates.
Media outlets reporting housing statistics of median home prices primarily of single family homes and condominiums. My report of the Polk County real estate market shares median home prices and average home prices. The graph below indicates overall average home prices in Polk County since January 2009.
A look back in history of Polk County’s existing home prices:
- August 2006 – median price $190,000 (-53.68%) – 820 homes sold
- August 2007 – median price $170,000 (-48.24%) – 511 homes sold
- August 2008 – median price $138,950 (-36.67%) – 430 homes sold
- August 2009 – median price $101,000 (-12.87%) – 553 homes sold
637 existing homes sold – a slight increase from the previous month (617 sold homes) in Polk County, FL.
Overall sales decreased marginally to $88,000 in Polk’s median price for existing homes from the previous month of $89,000, however, the Polk’s median home price from the previous year is showing a double-digit decline by 12.87%. Take a look at the city you live in and see what the numbers are for August 2010 for existing home sales – single-family homes, condominiums, manufactured homes, duplex, villas, and townhomes -including distressed homes 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 Pric Median Sold Price # of Homes Sold
| AUBURNDALE | 87,698 | 75,125 | 26 |
| BABSON PARK | 200,000 | 200,000 | 3 |
| BARTOW | 61,624 | 35,120 | 12 |
| CLERMONT | 45,000 | 45,000 | 1 |
| DAVENPORT | 112,795 | 102,000 | 114 |
| DUNDEE | 73,671 | 68,000 | 10 |
| EAGLE LAKE | 29,000 | 29,000 | 1 |
| FORT MEADE | 227,500 | 227,500 | 2 |
| FROSTPROOF | 39,533 | 45,000 | 3 |
| HAINES CITY | 102,500 | 92,500 | 36 |
| INDIAN LAKE ESTATES | 89,500 | 89,500 | 2 |
| KISSIMMEE | 110,857 | 83,000 | 9 |
| LAKE ALFRED | 80,618 | 100,000 | 11 |
| LAKE HAMILTON | 88,000 | 61,000 | 4 |
| LAKE WALES | 91,800 | 79,950 | 28 |
| LAKELAND | 115,431 | 98,000 | 187 |
| MULBERRY | 101,838 | 89,900 | 21 |
| POINCIANA | 83,901 | 70,000 | 59 |
| POLK CITY | 100,000 | 90,000 | 4 |
| WINTER HAVEN | 95,446 | 79,500 | 104 |
Let me break down August 2010 Polk County existing homes sales into various categories:
- 537 Single family homes – median price $96,000 – 141 Average Days to Closing
- 28 Townhomes, villas and duplex units – median price $66,500 – 128 Average Days to Closing
- 42 Condominiums – median sold price – $66,750 – 150 Average Days on Closing
- 30 Modular, manufactured/mobile homes in park/out of park – median sold price $34,750 – 202 Average Days on Closing
Overall Polk County’s Foreclosure and Short Sales Prices – August 2010!
There were 222 existing Polk County homes sold, not categorized as distressed properties, at a median sold price of $117,000 with 160 average days to closing, which counted for almost 34.85% of our total sales. The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales counted for 65.15% of our total sales in Polk County for the month of August.
- 328 sold homes were Bank Owned – median price $70,000 – Average Days to Closing 105.
- 87 sold homes were Short Sales – median price $90,000 – Average Days to Closing 249
Home Price Index for Polk County and Lakeland FL
I read an interesting article today from CoreLogic® on the Nation’s Home Price Index for July. The study shows that Maine, South Dakota, California, New York and Virginia had the highest appreciation from 2.6% to 4.5%.
States with the greatest depreciation were Idaho, Alabama, Utah, Oregon and Washington ranging from -12.6% to -4.3%.
How did Florida rank in their study of Single Family Homes and Single Family Homes that excludes distressed homes?
The State of Florida ranked 6th – Single Family -4.0% – Single Family Excluding Distressed –3.6%. Take a look at the screenshot from CoreLogic®
We are still amongst the top state in the nation where foreclosures dictate home prices. After reading this article and reporting monthly and bi-weekly on the overall Lakeland Florida real estate market, it would be interesting to see how Polk County and especially Lakeland’s home price index is in the same category for July 2010.
Polk County – Single Family Home median home prices
2009 – $114,950
2010 – $100,000
-13.1%
Polk County – Single Family Home median home prices excluding distressed
2009 – $139,000
2010 – $137,000
-1.44%
Lakeland, Florida – Single Family Home median home prices
2009 – $131,670
2010 – $107,750
-18.17%
Lakeland, Florida – Single Family Home median home prices excluding distressed
2009 – $162,900
2010 – $135,000
-17.13%
Has the existing home sale hit bottom yet? Or you might ask how low can we go?
Although economists predict that signs of improvement will show in the last quarter of the year because it takes longer to get a loan approved therefore loan applications for home purchase made in July may show up in existing home sales statistics in October.
As far as Lakeland Fl and Polk County is concerned with double digit drop in home prices and the bank owned homes dictating our home prices in Lakeland FL and throughout Polk County, I suspect that overall average home prices will continue to decline through the end of the year and at least the first quarter of 2011.
Source: CoreLogic® and Mid-Florida MLS
Overall Polk County Existing Home Prices for July 2010
Polk County’s overall existing home sales still strong for numbers of homes sold for the Month of July with a total of 617 properties sold despite the declining home prices and the end of the first-time homebuyer tax credit. Prices continue to decrease downwards blaming it still widely on discounted distressed sales throughout the county from the previous year and years’ prior.
A look back in history:
- July 2006 – median price $185,000 (-51.41%) – 721 homes sold
- July 2007 – median price $180,000 (-50.06%) – 437 homes sold
- July 2008 – median price $147,575 (-39.08%) – 462 homes sold
- July 2009 – median price $108,000 (-16.76%) – 598 homes sold
617 existing homes sold – a decrease of 23.54% from the previous month (807 sold homes) in Polk County, FL.
Overall sales decreased marginally to $89,000 in Polk’s median price for existing homes from the previous month of $95,000, however, the Polk’s median home price from the previous year is showing a double-digit decline by 16.76%.
Take a look at the city you live in and see what the numbers are for July 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 | 92,681 | 85,000 | 26 |
| BABSON PARK | 546,000 | 546,000 | 2 |
| BARTOW | 120,315 | 64,500 | 13 |
| DAVENPORT | 120,018 | 110,000 | 144 |
| DUNDEE | 55,475 | 59,450 | 4 |
| EAGLE LAKE | 101,025 | 98,000 | 4 |
| FORT MEADE | 45,667 | 45,000 | 3 |
| FROSTPROOF | 34,667 | 25,000 | 3 |
| HAINES CITY | 100,743 | 70,100 | 27 |
| HIGHLAND CITY | 40,700 | 40,700 | 2 |
| KISSIMMEE | 92,031 | 69,000 | 16 |
| LAKE ALFRED | 88,806 | 98,475 | 8 |
| LAKE HAMILTON | 90,000 | 90,000 | 1 |
| LAKE WALES | 88,548 | 71,750 | 28 |
| LAKELAND | 115,453 | 98,950 | 170 |
| MULBERRY | 115,239 | 124,950 | 14 |
| POINCIANA | 86,853 | 74,750 | 59 |
| POLK CITY | 45,560 | 35,250 | 4 |
| WINTER HAVEN | 102,240 | 75,000 | 89 |
Let me break down July 2010 Polk County existing homes prices into various categories:
- 520 Single family homes – median price $100,000 – 150 Average Days to Closing
- 31 Townhomes, villas and duplex units – median price $55,000 – 138 Average Days to Closing
- 37 Condominiums – median sold price – $70,450 – 119 Average Days on Closing
- 30 Modular, manufactured/mobile homes in park/out of park – median sold price $39,000 – 176 Average Days on Closing
Let’s take a look at the distressed Polk County real estate market!
There were 215 existing Polk County homes sold, not categorized as distressed properties, at a median sold price of $125,000 with 169 average days to closing, which counted for almost 34.85% of our total sales. The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales counted for 65.15% of our total sales in Polk County for the month of July.
- 307 sold homes were Bank Owned – median price $73,000 – Average Days to Closing 94.
- 95 sold homes were Short Sales – median price $95,000 – Average Days to Closing 280
