Finally some Good News! Lakeland Florida Real Estate Market Report – September 2008

Hi folks! In recent weeks, we have been watching all kinds of news regarding the financial disaster on Wall Street, the credit market, the never-ending presidential election and on and on….. I want to share some good news in the housing market here in Lakeland, Florida, especially if you are a Seller and waiting for your home to be sold. Although the month of August was not very encouraging for Lakeland home sales, the start of fall in the month of September and the rise in home sales was quite positive.

The 154 homes sold in September not only increased by 16% from the previous month, it also increased by 12% from the previous year. While the average sold price decreased by 14% from September 2007; the average sold price for a home in Lakeland increased by almost 6% last month. The time it took a home to sell was an average of 109 days last month compared to last year’s 147.

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”.  The average sold price in Lakeland Florida for the month of September was $166,370 and as you can see only 4 zip codes reached above average sales price (highlighted) in Lakeland.


For more information on the location of these sold properties in Lakeland, price and size of the home click on map picture which leads you to the interactive Community Walk map created by Chuck Welch of Lakeland Local.


Check out the graph here, the gap continues of the average list price vs. the average sold price for the year 2008. To lower the inventory on hand, the gap must approach towards the average sold price.


The graph below will give provide detail information of how many homes sold in Lakeland by Zip Code and by month.


Lakeland’s current inventory reached 2,404 of residential homes in active and 232 homes in pending status.

Distressed properties are homes in pre-foreclosure, foreclosure, bank owned, as well as short sales – Of the 154 homes sold last month, 42 homes were sold with an average sales price of $134,811. Only 9 homes were sold the previous year, due to Short Sales and/or Foreclosures.

There are currently 457 homes facing foreclosure.

78 homes are in pending status waiting for bank or lender approval to close.

What is the average price for these types of homes?

 

In Lakeland, you will find distressed properties in every price category. The average price currently listed is $155,036. The priciest home currently on the market is listed for $750,000 and the lowest priced home is $19,900.

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

Winter Haven – 58 properties sold – average sold price $127,738 – average $73.95 per sq.ft.

Bartow – 13 properties sold – average sold price $97,384 – average $67.18 per sq.ft.

Mulberry – 16 properties sold – average sold price $118,997 – average $78.72 per sq.ft.

Auburndale – 16 properties sold – average sold price $158,035 – average $77.95 per sq.ft.

Polk City – 6 properties sold – sold price $154,884 – $94.09 per sq.ft.

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


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

Finally some Good News! Lakeland Florida Real Estate Market Report – September 2008

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

PO Box 92050 – Lakeland, FL 33804-2050 –

Telephone (863) 619-6918

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Lakeland’s Real Estate Market – pretty or not?

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

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 Real Estate Market Report by Zip Code - June 2008

 

 

 

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

 Lakeland sold 145 homes in the month of June. It would take about 76 weeks or 19 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 – 54 properties sold – average sold price $182,676 – average $96.54 per sq.ft.

Bartow – 12 properties sold – average sold price $122,383 – average $66.99 per sq.ft.

Mulberry – 16 properties sold – average sold price $117,835 – average $78.44 per sq.ft.

Auburndale – 17 properties sold – average sold price $138,929 – average $76.82 per sq.ft.

Polk City – 8 properties sold – average sold price $148,113 – average $77.84 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 |

Lakeland’s Housing Market – pretty or not?

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