Polk County

Overall Polk County Existing Home Sales for May 2010

Polk County’s overall existing home sales continued to improve somewhat in May. However, prices continue to drift downwards blaming it still widely on discounted distressed sales throughout the county from the previous year and the years prior.

A look back in history:

· May 2006 – median price $188,000  (-%50.93)

· May 2007 – median price $184,250 (-%49.93)

· May 2008 – median price $150,000 (-%38.50)

· May 2009 – median price $101,000 (-8.66%)

The graph picture below represents the overall Polk County Real Estate market with average sold prices and the number of sold homes.

777 existing homes sold – a decrease of 5.13% from the previous month (819 sold homes) in Polk County and an increase in sales activity by 35.84% of overall existing homes sold from the previous year of 572.

A slight increase by 1.37% in overall Polk’s median price for existing homes from the previous month to $92,250, the median home price from the previous year is showing a decline by 8.66%.

Take a look at the city you live in and see what the numbers are for May 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	79,985	72,000	27
BABSON PARK	126,335	79,900	5
BARTOW	78,507	56,875	26
CLERMONT	50,050	48,000	4
DAVENPORT	117,519	110,000	153
DUNDEE	60,220	71,200	5
EAGLE LAKE	86,850	75,000	4
FORT MEADE	69,450	69,450	2
FROSTPROOF	67,333	40,000	3
HAINES CITY	91,256	94,000	47
HOMELAND	120,000	120,000	1
INDIAN LAKE ESTATES	105,250	105,250	2
KATHLEEN	135,000	135,000	1
KISSIMMEE	90,360	76,900	20
LAKE ALFRED	96,333	65,750	6
LAKE WALES	85,155	65,000	29
LAKELAND	121,525	106,500	220
LOUGHMAN	26,000	26,000	1
MULBERRY	121,579	128,388	20
POINCIANA	90,349	70,500	85
POLK CITY	112,216	65,556	10
WINTER HAVEN	107,749	97,000	106

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

· 700 Single family homes, townhomes, villas and ½ duplex – median sold price $112,337 –  142 Average Days to Closing

· 31 Condominiums – median sold price – $59,935 – 155 Average Days on Closing

· 46 Modular, manufactured/mobile homes in park/out of park – median sold price $55,097 –  166 Average Days on Closing

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

There were 289 existing Polk County homes sold, not categorized as distressed properties, at a median sold price of $120,000 with 174 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 May.

· 377 sold homes were Bank Owned – median price $77,500 – Average Days to Closing 85

· 111 sold homes were Short Sales – median price $90,000 – Average Days to Closing 270

Polk County

Overall Polk County Existing Home Sales for March 2010

Polk County’s overall existing home sales had a record breaking month, which are shown in the numbers in most major cities throughout Polk County. However, prices continue to drift downwards blaming it widely on discounted distressed sales throughout the county from the previous year.

758 existing homes sold – an increase of 21% from the previous month (596 sold homes) in Polk County and an increase in sales activity of 180 Polk County homes sold from the previous year of 578 homes sold.

While overall Polk’s median price for existing homes increased by almost 6% from the previous month to $90,500, the median home price from the previous year is showing a decline by almost 10%.

Take a look at the city you live in and see what the numbers are for March 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

ALTURAS	145,000	145,000	1
AUBURNDALE	84,106	76,000	31
BABSON PARK	54,500	54,500	1
BARTOW	80,700	46,250	10
CLERMONT	42,500	42,500	2
DAVENPORT	116,849	103,000	159
DUNDEE	56,233	47,950	6
EAGLE LAKE	90,875	81,500	4
FORT MEADE	38,700	39,950	4
FROSTPROOF	81,188	68,250	8
HAINES CITY	97,724	86,950	50
INDIAN LAKE ESTATES	104,833	35,000	3
KISSIMMEE	76,100	73,500	16
LAKE ALFRED	114,950	114,950	2
LAKE WALES	97,423	77,800	24
LAKELAND	114,518	105,000	235
LAKESHORE	25,000	25,000	1
MULBERRY	86,540	63,000	13
POINCIANA	84,332	72,500	64
POLK CITY	62,622	31,000	9
WINTER HAVEN	93,400	79,000	115

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

• 660 Single family homes, townhomes, villas and ½ duplex – median sold price $98,300 – 142 Average Days to Closing
• 40 Condominiums – median sold price – $64,550 – 193 Average Days on Closing
• 58 Modular, manufactured/mobile homes in park/out of park – median sold price $45,000 – 171 Average Days on Closing

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

There were 297 existing homes sold, not categorized as distressed properties, at a median sold price of $114,900 with 183 average days to closing, which counted for almost 39% of our total sales. The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales counted for 61% of our total sales in Polk County for the month of February.

• 355 sold homes were Bank Owned – median price $75,000 – Average Days to Closing  79
• 105 sold homes were Short Sales – median price $100,000 – Average Days to Closing 273

For your local market report and updates in Lakeland, please visit my blog at www.lakelandfloridaliving.com

Polk County

Overall Polk County Real Estate Market – February 2010

Overall Polk County Existing Home Sales for February 2010

Polk County’s overall existing home sales increased and it goes along with what has been reported at state and national level with increased sales for February. However, prices continue to drift downwards blaming it widely on discounted distressed sales throughout.

596 existing homes sold – an increase of 19% from the previous month (500 sold homes) in Polk County and an increase in sales activity of 145 Polk County homes sold from the previous year of 451 homes sold.

Overall Polk’s median price for existing homes decreased by 12.5% from the previous month to $85,700 and respectively decreased 15% from the previous year.

Take a look at the city you live in and see what the numbers are for February 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	108,121	100,900	23
BABSON PARK	163,300	56,900	3
BARTOW	90,825	54,000	8
CLERMONT	59,250	63,750	4
DAVENPORT	123,762	110,000	134
DUNDEE	99,633	99,900	3
EAGLE LAKE	42,000	42,000	1
FORT MEADE	45,450	41,000	3
FROSTPROOF	73,317	73,500	3
HAINES CITY	95,050	80,000	36
INDIAN LAKE ESTATES	64,272	64,272	2
KISSIMMEE	83,272	75,500	17
LAKE ALFRED	72,546	61,000	12
LAKE WALES	80,143	62,500	28
LAKELAND	111,819	97,000	153
MULBERRY	120,003	127,000	17
POINCIANA	79,756	70,000	64
POLK CITY	133,359	119,950	6
WINTER HAVEN	110,239	84,900	79

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

• 514 Single family homes, townhomes, villas and ½ duplex – median sold price $99,000 – 147 Average Days to Closing
• 39 Condominiums – median sold price – $51,111 – 187 Average Days on Closing
• 43 Modular, manufactured/mobile homes in park/out of park – median sold price $55,000 – 233 Average Days on Closing

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

There were 232 existing homes sold, not categorized as distressed properties, at a median sold price of $111,000 with 200 average days to closing, which counted for almost 39% of our total sales. The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales counted for 61% of our total sales in Polk County for the month of February.

• 283 sold homes were Bank Owned – median price $75,000 – Average Days to Closing  87
• 81 sold homes were Short Sales – median price $98,000 – Average Days to Closing 274

For your local market report and updates in Lakeland, please visit my blog at www.lakelandfloridaliving.com.

Polk County

Appealing your Polk County Property Appraiser’s Market Value Appraisal

To determine market value or as I would say the property assessment value the Polk County Property Appraiser uses to arrive when assessing your Polk County home for property tax purposes. The Polk County Property Appraiser establishes assessed value by knowing the selling price for similar properties and also takes other factors into consideration, such as:

• Comparative Value – homes sold recently in an arm’s length transaction
• Replacement Value – costs to replicate your Polk County home at current material prices and labor costs
• Methods of property use – Rental home

The Polk County Property Appraiser must find value for every piece in Polk County and all appraisals must be completed by January 1^st of each year.

Are you in disagreement with the assessed property value of your Polk County home?

While not a requirement, you may have your assessed property value reviewed by going to the Polk County Property Appraiser’s office and discuss the matter with them in person, by phone or email.  Be sure to bring all documents to proof your opinion.  If the Property Appraiser’s office is unable to arrive at an agreement with you.  Keep in mind, while you are discussing your valuation assessment with the Property Appraiser’s office, it certainly  does not stop the expiration date of the deadlines.

You must file a “petition” in order to appeal before you can be heard by the Value Adjustment Board.  Written applications must be filed with the Clerk of the Board of County Commissioners.

Timely Filing of Petition: Petitions related to valuation issues may be filed at any time during the taxable year on or before the 25th day following the mailing of the notice of proposed property taxes.

For more information please visit: http://www.polkpa.org/AssessmentInfo/Default.aspx

Bartow Office

255 N. Wilson Ave Phone: 863-534-4777

Bartow, FL 33830 Fax: 863-534-4753

Hours: 8:30am-5:00pm (M-F)

Lakeland Office

912 E. Parker St. Phone: 863-413-2549

Lakeland, FL 33801 Fax: 863-413-2550

Hours: 8:30am-5:00pm (M-F)

Winter Haven Office

3425 Lake Alfred Rd. Phone: 863-401-2424

3 Gill Jones Plaza Fax: 863-401-2428

Winter Haven, FL 33881 Hours: 8:00am-5:00pm (M-F)

Serving buyers and sellers throughout Polk County including cities of Lakeland, Auburndale, Polk City, Bartow, Winter Haven, Kathleen, Highland City, and Mulberry.

Search for Polk County Homes:

Polk County

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

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

Lakeland and Polk County Florida Real Estate Update: Save Money by filing Property Tax Homestead Exemption

Beat the rush and file your Polk County property tax homestead exemption on your Lakeland real estate or anywhere in Polk County Florida early, because – believe it or not – March 1^st, 2010 deadline is fast approaching.

If you took residency on your newly purchased home after January 1, 2009, which includes mobile home if the land the mobile home sits on is owned by the same owner, you may qualify for the initial $25,000 Homestead Exemption. In addition, you may also qualify for an additional $25,000 homestead under Amendment 1 that began with the 2008 tax year for a total of $50,000.  You surely want to file for a 2010 property tax exemption, also known as homestead exemption.  Have you owned a home previously in Florida? You may be eligible for “Save our Home”. Saving money these days is on everybody’s mind – there are other ways of qualifying for additional savings:

• Amendment 7, which was voted by Florida voters on November 7, 2006 and is intended to be an additional discount on taxes owed after all other ad valorem tax exemptions are computed for eligible veterans 65 years and older.
• Senior exemption, widow, disability, veterans and total exemption – if qualified you may be eligible to save up to an additional $5,000. Widow or widower must provide a copy of their late spouse’s death certificate. Disability exemptions applicants must provide an attest from a certified Florida physician.  Veteran exemptions applicants must show proof of percentage (minimum 10%) of service-connected disability from the U.S. Department of Veterans Affairs.

First-time homebuyers filing for homestead exemption must apply in person and bring their recorded deed and proof of residency, such as Florida drivers’ license with current address, Florida voter registration with current address, Florida vehicle registration with current address or resident alien card. Applicants filing for any exemption are required to present their Social Security cards.

Where to file?

Bartow Office

255 N. Wilson Ave                     Phone: 863-534-4777

Bartow, FL 33830                      Fax: 863-534-4753

Hours: 8:30am-5:00pm (M-F)

Lakeland Office

912 E. Parker St.                          Phone: 863-413-2549

Lakeland, FL 33801                   Fax: 863-413-2550

Hours: 8:30am-5:00pm (M-F)

Winter Haven Office

3425 Lake Alfred Rd.                 Phone: 863-401-2424 3

Gill Jones Plaza                         Fax: 863-401-2428

Winter Haven, FL 33881

Hours: 8:00am-5:00pm (M-F)

Website: http://www.polkpa.org

Polk County

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

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

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”.

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