Most folks want to hear the bad news before the good news in hopes that the bad news is still not too bad when comparing the Good and the Bad. However, with Real Estate news, people have lately watched the negative news reports or read the not so good news in the newspaper. Therefore, I will start with the good news first.

Good News - Lakeland’s housing market has improved to 145 homes sold in June 2008 from the previous month of 124 homes sold. The average sold price also increased by 14% from the previous month. It also took less time to sell a home in June with an average of 143 days. 

Now, the Not So Good News – When statistics being compared, it is compared with the previous year and here comes the bad news. Lakeland had 145 homes sold last month, compared with 193 the previous year. In addition, Lakeland’s average home sales price of $169,148 was down almost 15% from 198,592 a year ago. Of the 145 homes sold last month, 33 homes were sold due to Short Sales and/or Foreclosures with an average sales price of $118,371. Only 7 homes were sold the previous year, due to Short Sales and/or Foreclosures.

This home is priced below the average sales price and it is listed for $149,000 -  To view video, please click on the picture below. Check it out! You may also visit the property’s website at www.2231MiguelSt.com

Lakeland Home Priced below average sold home prices

 

 

Take a look at my spreadsheet below. I’ve separated the report by zip code instead of school zones; it gives you a more accurate report in my opinion. The data 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”.  

Lakeland Real Estate Market Report by Zip Code - June 2008

 

 

 

Lakeland’s current inventory is 2563 of residential homes in active and pending status

Let’s take a look at the overall picture for Polk County, Lakeland and the surrounding cities within Polk County, FL. There are currently over 7940 properties for sale in Polk County. Currently, 709 listings are pending (under contract); hence buyers and sellers are waiting to close escrow.

For the month of May, according to the Mid Florida Regional MLS the numbers for Polk County homes sold dropped to 449 from 570 properties sold the previous year. The average sold price for Polk County for May 08 was $169,029 compared to $198,980 in May 2007, a decrease by almost 18%.

Folks, have we bottomed out in my market area here in Lakeland? Lakeland has around 2370 properties for sale and the average listing price in Lakeland is currently $235,512, which amounts to $126.96 per square feet for an 1855 square feet home. The average sold price for the month of May 08 was $148,017 compared to last year’s number for May of $186,604; a decline of 26% with and average 174 days on the market. Doesn’t this look like we are at 2004 sold prices again?

Take a look at my spreadsheet below. I’ve separated the report by zip code instead of school zones; it gives you a more accurate report in my opinion. The data 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”.

Let’s see, how long would it take to absorb Lakeland’s current inventory of 2622 active and pending listings?

Lakeland sold 124 homes in the month of May. It would take about 91 weeks or 23 months to sell the current inventory. Not encouraging at all, however, keep in mind that this number is only an indicator on how long it takes to absorb and therefore, pricing the home you are selling is very crucial. Just take a look above at the average listing price and the average sold price for Lakeland – how long will it take to sell your house?

Let’s take a look at last month sold report for the surrounding cities in Polk County:

Winter Haven - 71 properties sold - average sold price $172,885 – average $99.19 per sq.ft.

Bartow – 11 properties sold – average sold price $96,706 – average $71.32 per sq.ft.

Mulberry – 15 properties sold – average sold price $205,660 – average $110.45 per sq.ft.

Auburndale – 17 properties sold – average sold price $142,874 – average $85.86 per sq.ft.

If you are interested in a specific area or neighborhood, feel free to contact me at petra@petranorris.com

Copyright © 2008 http://www.petranorris.com| All Rights Reserved |

Have we bottomed out here in Lakeland, FL?

Petra Norris - CDV TransAtlantic, Inc. - Licensed Florida Real Estate Broker –

PO Box 92050 – Lakeland, FL 33804-2050 – Telephone (863) 619-6918

This blog is solely my point of view

Are you still looking over the fence?

So why don’t you hop over and take a look at my market report for Lakeland and the surrounding cities within Polk County, FL. There are currently over 8100 properties for sale in Polk County. WOW – A lot of properties for sale and as long as Polk County has a high inventory, the prices will be dropping - Supply and Demand. My market area is in Lakeland and Lakeland has around 2400 properties for sale. The average listing price in Lakeland is currently $234,000.

We are still waiting for the market to rebound. Last month according to the Mid Florida Regional MLS the numbers for Polk County homes sold dropped to 427 from 514 properties sold the previous year. The average sold price for Polk County for April 08 was $167, 285 compared to $198,367 in April 2007, a decrease by 15%.

Lakeland’s market is almost a mirror image of Polk County. The average sold price for the month of April 08 was $163,555 compared to last year’s number for April of $199,619. Take a look at my spreadsheet below. I’ve separated the report by zip code instead of school zones; it gives you a more accurate report in my opinion. The data 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”.

March Home Sales Improved overall in Polk County according to the Lakeland Ledger Report. With all its negative publicity that the Real Estate Industry has, it is a positive sign that the media finally has something encouraging to write about Real Estate.

What does the statistics say for Lakeland, Florida?

According to the data obtained from the Mid-Florida Regional MLS there were 159 homes sold in Lakeland compared to last years 188 homes sold – a decline of 32 homes. The average sold price for a home in Lakeland was $152,761 last month. Last year’s average sold price was $185,497 in March – a plunge of 17%. Of the 159 homes sold there were 25 homes sold in distress – short sale, pre-foreclosure, foreclosure, and/or bank owned. The average home sold in distress last month was $104,662.

My report below is a breakdown by zip code which gives you a detailed view of each area with last year’s market information. The data for this report was obtained from the Mid-Florida Regional MLS, it is deemed reliable but not guaranteed.

Copyright © 2008 http://www.petranorris.com| All Rights Reserved |

Lakeland’s Real Estate Market 411

Petra Norris - CDV TransAtlantic, Inc. - Licensed Florida Real Estate Broker –

This blog is solely my point of view

It has been an interesting First Quarter this year. From January through March, there were 394 residential homes sold in Lakeland, Florida compared to last year’s first quarter total of 522 home sold - a decrease of 128 properties or if you will 32.50%. The average sold price for this quarter was $170,499 (average sq. ft. $101.73) compared to $198,774 (average sq. ft. $120.54) a decrease of 17% for the 1^st quarter in 2008. Are you looking to buy?

Folks, as every week for the past weeks you will find my weekly report below to offer you with an inside on what is happening in the Residential Real Estate Market for Lakeland, FL. This report is by zip code and is in my opinion more accurate than measuring by school zones, since school zone changes are in progress and Realtors® not always input the school zones into the Multiple Listing.

There are currently 2403 properties for sale, which is an increase of 15 listings reported the previous week. Last week’s average sales price decreased modestly. However, the average sold price increased by 5% compared to my prior report of the Lakeland Residential Weekly Market Report 3/24/08-3/31/08. My weekly report is obtained from the Mid-Florida Regional MLS, it is deemed reliable but not guaranteed. This report does not include “For Sale By Owner”. 

How long will it take to absorb the current inventory? According to the Mid-Florida Regional MLS, there are currently 2628 active and pending listings available in Lakeland. The definition of Pending is that it has not sold as of today and/or the Pending listing has not been updated to Sold status in the Multiple Listing. Realtors® sold 156 properties in Lakeland last month. Since the absorption rate is not an exact science it may influence your decision to put your home on the market. Based on my calculation, the truth of the matter is that the absorption rate for Lakeland is 73 weeks. Are you thinking about selling?

 If you are interested in a specific area or neighborhood, feel free to contact me at petra@petranorris.com

Copyright © 2008 http://www.petranorris.com| All Rights Reserved

Is it time to buy or is it time to sell in Lakeland, Florida - you decide!

Petra Norris - CDV TransAtlantic, Inc. - Licensed Florida Real Estate Broker -

PO Box 92050 - Lakeland, FL 33804-2050 - Telephone (863) 618-6919

This blog is solely my point of view

Folks, as every week for the past weeks you will find my weekly report below to offer you with an inside on what is happening in the Residential Real Estate Market for Lakeland, FL. This report is by zip code and is in my opinion more accurate than measuring by school zones, since school zone changes are in progress and Realtors® not always input the school zones into the Multiple Listing.

There are currently 2388 properties for sale, which is a decrease of 52 listings reported the previous week. Last week’s average sales price increased modestly. However, the average sold price increased almost 20% compared to my prior report of the Lakeland Residential Weekly Market Report 3/17/08-3/24/08.

So far, for the month of March, the Mid-Florida Regional MLS reports that 25 homes sold in Lakeland were in foreclosure, pre-foreclosure, bank owned, and/or required 3^rd party approval (short sale). The average sold price was $104,662 with an average of $73.65 per square feet. However, a total of 124 homes were sold by Realtors®, who had sellers that had not distressed homes; the average sold price for such properties were $182,390 with an average of $105.43 per square feet.

My weekly report is obtained from the Mid-Florida Regional MLS, it is deemed reliable but not guaranteed. This report does not include “For Sale By Owner”.

If you are interested in a specific area or neighborhood, feel free to contact me at petra@petranorris.com

Copyright © 2008 http://www.petranorris.com| All Rights Reserved |

Lakeland Residential Weekly Market Report for 3/24/08-3/31/08

Petra Norris - CDV TransAtlantic, Inc. - Licensed Florida Real Estate Broker -

PO Box 92050 - Lakeland, FL 33804-2050 - Telephone (863) 618-6919

This blog is solely my point of view

The business section of the Lakeland Ledger reports the housing market continues to have difficulties in Polk County and across the State of Florida.

Folks, as every week for the past few weeks you will find my weekly report below to offer you with an inside on what is happening in the Residential Real Estate Market for Lakeland, FL. This report is by zip code and is in my opinion more accurate than measuring by school zones, since school zone changes are in progress and Realtors® not always input the school zones into the Multiple Listing.

There are currently 2440 properties for sale, which is an increase of 46 listings reported the previous week. Last week’s average sales price increased modestly. However, the average sold price decreased almost 29% compared to my prior report of the Lakeland Residential Weekly Market Report 3/10/08-3/17/08.

For the month of February, a total of 135 Residential Homes have sold for an average price of $169,791, which is a decline of 13% from the previous year. There were also 125 Listings that have expired and have not re-listed.

My weekly report is obtained from the Mid-Florida Regional MLS, it is deemed reliable but not guaranteed. This report does not include “For Sale By Owner”.

If you are interested in a specific area or neighborhood, feel free to contact me at petra@petranorris.com

Copyright © 2008 http://www.petranorris.com| All Rights Reserved |

Lakeland Residential Weekly Market Report for 3/17/08-3/24/08

Petra Norris - CDV TransAtlantic, Inc. - Licensed Florida Real Estate Broker
This blog is solely my point of view

Hello, as every week for the past few weeks you will find my weekly report below to give you an inside on what is happening in the Residential Real Estate Market for Lakeland, FL. This report is by zip code and is in my opinion more accurate than measuring by school zones, since school zone changes are in progress and Realtors® not always input the school zones into the Multiple Listing.

There are currently 2394 properties for sale, which is minimal increase of 9 listings reported the previous week. Last week’s average sales price increased modestly. However, the average sold price decreased by 3% compared to my prior report of the Lakeland Residential Weekly Market Report 3/03/08-3/10/08.

My weekly report is obtained from the Mid-Florida Regional MLS, it is deemed reliable but not guaranteed. This report does not include “For Sale By Owner”.

If you are interested in a specific area or neighborhood, feel free to contact me at petra@petranorris.com

Copyright © 2008 http://www.petranorris.com| All Rights Reserved |

Lakeland Residential Weekly Market Report for 3/10/08-3/17/08

Petra Norris - CDV TransAtlantic, Inc. - Licensed Florida Real Estate Broker
This blog is solely my point of view

Below you will find my weekly report to give you an inside on what is happening in the Residential Real Estate Market for Lakeland, FL by zip code.

There are currently 2385 properties for sale, which is a decrease of 19 listings reported the previous week. Last week’s average sales price decreased modestly as well as the average sold price had an insignificant increase compared to my prior report Lakeland Residential Weekly Market Report 2/25/08 - 3/03/08.

My weekly report is obtained from the Mid-Florida Regional MLS, it is deemed reliable but not guaranteed. This report does not include “For Sale By Owner”.

If you are interested in a specific area or neighborhood, feel free to contact me at petra@petranorris.com

Copyright © 2008 http://www.petranorris.com| All Rights Reserved

Petra Norris - CDV TransAtlantic, Inc. - Licensed Florida Real Estate Broker
This blog is solely my point of view

Lakeland Residential Weekly Market Report 

Below you will find my weekly report to give you an inside on what is happening in the Residential Real Estate Market for Lakeland, FL.   There are currently 2404 properties for sale, which is a decrease of 14 listings reported the previous week. Although the average sold price decreased by 6% from last week, the amount of 29 closed properties increased this past week from the previous reported week.

My weekly report is obtained by the Mid-Florida Regional MLS, it is deemed reliable but not guaranteed. This report does not include “For Sale By Owner”.

If you are interested in a specific area or neighborhood, feel free to contact me at petra@petranorris.com