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
The Florida Realtors Association reports that existing home sales for April rose by 27% and statewide existing home median price of $140,100 increased by 1% from the previous year in April 2009. Increase in statewide sales activity of 3% was also reported from the previous month as well as 2.3% higher than March’s statewide median existing home price of $137,000.
Polk County’s overall existing home sales continued to improve in April. However, prices continue to drift downwards blaming it widely on discounted distressed sales throughout the county from the previous year.
819 existing homes sold – an increase of 7.45% from the previous month (758 sold homes) in Polk County and an increase in sales activity by 29% of overall existing homes sold from the previous year of 580.
While overall Polk’s median price for existing homes stabilized from the previous month to $91,000, the median home price from the previous year is showing a decline by almost 7%.
Take a look at the city you live in and see what the numbers are for April 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 |
110,292 |
81,000 |
30 |
|
BABSON PARK |
90,067 |
73,000 |
3 |
|
BARTOW |
88,062 |
85,000 |
21 |
|
CLERMONT |
72,000 |
72,000 |
1 |
|
DAVENPORT |
119,276 |
115,000 |
167 |
|
DUNDEE |
53,360 |
62,000 |
5 |
|
EAGLE LAKE |
135,000 |
135,000 |
2 |
|
FORT MEADE |
126,092 |
148,500 |
6 |
|
FROSTPROOF |
109,725 |
104,950 |
4 |
|
HAINES CITY |
97,519 |
86,000 |
47 |
|
INDIAN LAKE ESTATES |
144,333 |
160,000 |
3 |
|
KATHLEEN |
65,000 |
65,000 |
1 |
|
KISSIMMEE |
87,838 |
72,000 |
21 |
|
LAKE ALFRED |
61,600 |
51,000 |
5 |
|
LAKE HAMILTON |
195,782 |
195,782 |
1 |
|
LAKE WALES |
93,936 |
70,000 |
29 |
|
LAKELAND |
110,880 |
95,500 |
244 |
|
MULBERRY |
113,749 |
120,000 |
21 |
|
POINCIANA |
80,499 |
69,000 |
95 |
|
POLK CITY |
76,667 |
75,000 |
3 |
|
WINTER HAVEN |
122,299 |
98,500 |
110 |
Let me break down April 2010 Polk County existing homes sales into various categories:
· 724 Single family homes, townhomes, villas and ½ duplex – median sold price $99,900 – 138 Average Days to Closing
· 42 Condominiums – median sold price – $63,500 – 105 Average Days on Closing
· 53 Modular, manufactured/mobile homes in park/out of park – median sold price $54,000 – 198 Average Days on Closing
Let’s take a look at the distressed Polk County real estate market!
There were 302 existing homes sold, not categorized as distressed properties, at a median sold price of $122,250 with 175 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 April.
· 404 sold homes were Bank Owned – median price $71,498 – Average Days to Closing 82
· 113 sold homes were Short Sales – median price $99,900 – Average Days to Closing 260
Hi folks! Here are the numbers of my weekly update. The numbers of homes newly marketed have increased from the previous week of 61 homes to 94 homes listed with area Realtors®. The average sales price for the newly listed homes is $157,516 or $92.30 per square foot. Currently, Lakeland’s total inventory as of Wednesday, February 18th, 2009 declined to 2,204 homes listed for sale. The average sales price is $214,417 and with an average size of a home is 1,861 square feet, which calculates to $115.22 per square foot.
4 condominiums listed at an average sales price of $136,425
8 mobile homes listed with an average sales price of $106,137
2 townhomes/villas with an average sales price of $109,400
80 single family homes with an average price of $164,911
Now, you always find homes in different price ranges and it would be too extensive to list them all here. Therefore, without further ordure the priciest home that came newly on the market is a 2001 custom built pool home located in the Eaglebrooke Golf Club Community; featuring 4 bedrooms and 2 ½ baths with over 3,000 square feet of living space currently offered for $549,000. On the contrary, the second cheapest home on the market in all of Lakeland is a bank-owned 3 bedroom 1 bath home which is listed for $12,500 – $14.14 per square foot.
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”. Take a look at the breakdown by zip code:
33801 – 10 at an average sales price of $119,570
33803 – 17 at an average sales price of $151,482
33805 – 08 at an average sales price of $105,725
33809 – 12 at an average sales price of $146,312
33810 – 21 at an average sales price of $144,023
33811 – 08 at an average sales price of $201,137
33812 – 07 at an average sales price of $220,542
33813 – 10 at an average sales price of $216,680
33815 – 01 sales price of $89,900
Weekly update on distressed properties in Lakeland
A total of 470 properties are currently facing foreclosure. Newly listed were 38 Lakeland homes for sale in the distressed category with average prices of $138,736. Distressed homes are categorized as “Bank-Owned”, “Require 3rd party approval (Short Sale)”, “Pre-foreclosure”, and “In-Foreclosure”.
For more information on the location of the properties newly listed in Lakeland, pricing and size of the homes click on map picture which leads you to the interactive Community Walk map created by Chuck Welch of Lakeland Local.
For more information on my recent Lakeland market reports, please visit by clicking on the links below:
Lakeland Housing Review in Recent Years
Would you like to do your own search for properties? Look no further, click on the “Search for Homes” icon or contact me directly at (863) 619-6918
Copyright © 2009 http://www.petranorris.com| All Rights Reserved
Lakeland Florida Homes for Sale – Weekly Update on New Listings 02/08/09 – 02/14/09
Licensed Florida Real Estate Broker
CDV TransAtlantic, Inc.
P.O. Box 92050 – Lakeland, FL 33804-2050
Telephone (863) 618-6919
