Lakeland Florida – Real Estate Market Report for December 2008

Prices kept on falling at its lowest in December! Well folks, care for the numbers….Lakeland’s average sold prices dropped to $134,365, a 30% stumble from the previous year. This is the lowest I’ve seen so far closing out this eventful year of foreclosure crisis, wall street and main street crisis, mortgage mess and bail outs.

The average square foot of the sold homes for December was $76.03 per sq. ft., compared to the listing price of $81.36 per sq. ft. in Lakeland which is within the approximate numbers of our neighboring cities, such as Winter Haven, Auburndale, Bartow, Mulberry, and Polk City.

Although real estate agents have a tendency to say that December is one of the slowest months of the year. Home sales by the numbers however have increased by 15% – 135 homes sold from the previous month in Lakeland. An increase of 15% in number of home sales though it is an average number.

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”.


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, overall the average list price is just about over $140,000 since the beginning of this year in Lakeland. The average sold price so far this year amounts to $134,000 in Lakeland.

Lakeland 2008 Average Sold Homes Ytd


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

Lakeland Homes Sold by Zip Code 2008

Distressed properties are homes in pre-foreclosure, foreclosure, bank owned, as well as short sales – a continuous increase of distressed homes sales will certainly affect the real estate market and home values in Lakeland. Of the 135 homes sold last month homes 51 homes were sold with an average sales price of $123,543 compared to only 16 homes that were sold the previous year, due to Short Sales and/or Foreclosures.

There are currently 491 homes facing foreclosure.

139 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 $139,627. The priciest home currently on the market is listed for $750,000 and the lowest priced home is $15,000.

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

Winter Haven – 59 properties sold – average sold price $126,543 – average $70.26 per sq.ft.

Bartow – 12 properties sold – average sold price $126,362 average $70.77 per sq.ft.

Mulberry – 7 properties sold – average sold price $145,755 – average $80.05 per sq.ft.

Auburndale – 16 properties sold – average sold price $172,696 – average $82.83 per sq.ft.

Polk City – 6 properties sold – average sold price $130,408 – $72.75 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|

Lakeland Florida – Real Estate Market Report for December 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 Florida Homes New on Market – Weekly Update for 12/28/08

Hi fellow readers, here is my weekly update on newly listed properties in Lakeland. The numbers of homes recently listed were down from the previous week of 46 homes to 36 homes listed with area Realtors®. The total amount of current inventory dropped slightly from the previous week as well to 2,306 homes listed for sale. The average sales price is $215,543 and the average size of a home is 1,854 square feet, which calculates to $116.26 per square foot.

Types of homes newly listed:

2 condos with an average price of $134,450

2 mobile homes listed with an average sales price of $199,900

1 townhome/villa offered for sale at $139,900

31 single family homes with an average price of $182,185

 

Let me point out that my weekly update of the newly listed homes only pertains to Lakeland homes only.
Details on the priciest home that came on the market as well as the cheapest home – The top of this week’s list is a 2004 pool home; it features 4 bedrooms – 2 ½ baths and has over 3,300 square feet of living space being listed for $549,900. This custom-built home is located in the Grandview Landings subdivision. On the contrary, the cheapest home this week’s newly on the market is a two-story 3 bedroom 1 bath home listed for $18,900 located on Vermont Avenue; a home for under $15.00 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”. All my reports are illustrated by zip codes and the map provide you a better guidance when searching for homes in Lakeland, Florida.

The breakdown by zip code is as follows:

33801 – 04 at an average price of $58,325

33803 – 05 at an average price of $171,670

33805 – 02 at an average price of $129,950

33809 – 04 at an average price of $279,925

33810 – 10 at an average price of $226,800

33811 – 02 at an average price of $111,400

33812 – No homes were newly listed

33813 – 06 at an average price of $217,266

33815 – 03 at an average price of $63,566

Weekly update on distressed properties in Lakeland

The distressed home market has seen also a slight decrease in properties being offered for sale from last week’s 16 properties to 13 properties newly listed. The average price for a home is $97,361 ($61.41 per square foot). 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, pricing 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.

 

 

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 New on Market – Weekly Update for 12/28/08 

Petra Norris – Realtor®

Licensed Florida Real Estate Broker

CDV TransAtlantic, Inc.

P.O. Box 92050 – Lakeland, FL 33804-2050

Telephone (863) 618-6919

Lakeland Florida Homes New on Market – Weekly Update for 10/05/08

Hi fellow readers, there are currently 2,386 homes for sale in Lakeland, Florida, which did not change from last week’s update. The average sales price is $223,945 and the average size of a home is 1,862 square foot, which calculates to $120.27 per square foot.

The average listing price for this week’s new homes on market in Lakeland is $198,639 with average square feet of 1,789.

Altogether, there were 79 homes newly listed with area Realtors®. The lowest priced home that came on market in Lakeland is $33,000. The highest priced home, a 1989 pool home is being offered at$845,000 and is located in the LAKE IN THE WOODS Subdivision. There are 5 manufactured homes listed with an average price of $117,000, 2 condominium units listed for an average price of $58,950, 2 ½ duplex with an average list price of $81,400, 5 townhomes/villas priced average at $112,720, and 65 single family homes with an average price tag of $219,427. 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”. All my reports are illustrated by zip codes and the map provide you a better guidance when searching for homes in Lakeland, Florida.

  • 33801 – 9 properties – average list price $100,399
  • 33803 – 7 properties – average list price $182,385
  • 33805 – 5 properties – average list price $85,340
  • 33809 – 15 properties – average list price $215,413
  • 33810 – 15 properties – average list price $179,546
  • 33811 – 8 properties – average list price $186,287
  • 33812 – 5 properties – average list price $207,940
  • 33813 – 12 properties – average list price $366,600
  • 33815 – 3 properties – average list price $77,300

Weekly update on distressed properties in Lakeland

The weekly inventory represents 29% or 23 properties for sale in Lakeland that came newly on the market. These homes have an average list price of $124,960 which calculates to $78.76 per square foot. Distressed homes are homes currently in pre-foreclosure, bank-owned, foreclosure and or trying to get approval for a short sale.

For more information on the location of the properties, pricing 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.

Like what you see – want additional details on a specific property? Look no further, click on the “Search for Homes” icon.

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

Lakeland Florida Homes New on Market – Weekly Update for 10/05/08

Petra Norris – Realtor®

Licensed Florida Real Estate Broker

CDV TransAtlantic, Inc.

P.O. Box 92050 – Lakeland, FL 33804-2050

Telephone (863) 618-6919

Lakeland’s Real Estate Market 411

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.

Lakeland Residential Real Estate Market March

There is some good news on the horizon when you compare March 2008 data with the total amount of properties sold in February 2008. There was an increase of 24 more homes sold in March. I don’t want to speculate on the coming month of a continued increase in home sales, I do notice more calls on my listings as well as buyers looking for great deals.
If you are interested in a specific area or neighborhood, feel free to contact me at petra@petranorris.com for more information.
 

 

 

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 –

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

 

This blog is solely my point of view

 

 

The Price Is Right!

The Price Is RightThe article ” In Downer Market, Home-Selling Savvy Is Needed” in The Ledger from Jonathan Clements, who writes for the Wall Street Journal, inspired me to write about to Price It Right. First of all, before you are thinking about putting a price tag on your house, make sure your house is in tip top shape so you can get the most dollars for your priced possession. Do your research of homes that are For Sale in your neighborhood. Please keep in mind that tiles, paint, or laminate flooring in your house is not an upgrade – it is simply upkeep.  I also recommend doing your research on homes that were sold within the last 6-12 months.

I’m sure you can call a real estate agent and ask for their help and honest opinion, because that is what we here for to serve the public – at least I am, if you want my assistance.

Researching and pricing the home right is very tedious and time consuming because you would have to factor in several items, i.e. square feet, pool, fireplace, garage, etc. You get the point!

Put yourself in the buyer shoes and ask – would I want to buy this house for that price? Or have your friend look at your house and ask the same question – would you buy my house for that price? 

RealtorFolks, hiring a Realtor® would be the obvious choice – don’t you agree? He or she has the resources and experience selling homes. In addition, Realtors® sell homes every day and are not personally attached to the home as you are.

Folks, bottom line is that in today’s sluggish economy make sure your house is priced right, even if it means pricing the home 10-20% below comparable homes within your neighborhood. The longer you have your house on the market, the more it will cost you – financially and psychologically.

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

Residential Market Report for Lakeland, FL – Weekly

As I bring to you my weekly market update for Lakeland, I must emphasize there are a currently over 2400 residential properties for sale in Lakeland. There are 234 homes currently pending to close, which is an increase of 20 homes from my last week’s report, however there were 5 properties less sold. The average days on market increased from 117 to 156. The average sold price decreased by $7877 approximately 5% from my last week’s report. If you are interested in a specific area or neighborhood, feel free to contact me at petra@petranorris.com

Lakeland Residential Weekly Market Report

Residential Real Estate Market Report – Lakeland, FL

While I think nobody posted any Real Estate Market Statistics for Lakeland, I believe it is my duty to inform my clients and the public interested about the current market condition in Lakeland, FL – “GOOD and BAD”. Below you will find my weekly report that I will be posting every week to give you an inside on what is happening in the Residential Real Estate Market in Lakeland, FL.  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”. Dont’ you agree that your clients need to know about the current market condition in their area and not always hear it from the media?

Lakeland Weekly Market Report