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.


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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 – Review of the Real Estate Market in recent Years

Hi Folks! Look at these numbers below – don’t they speak for itself about today’s Lakeland Real Estate Market? Annual numbers of sold homes have seen a sharp drop since 2005 and last year 2008 did not give me an indication that the statistics will change much in 2009. The annual numbers of sold homes continued to decline by 21% from the previous year.

How long will it take to absorb the current inventory (Absorption Rate)?

Normal Market – Absorption Rate is between 5 and 6 months.

Sellers Market – Absorption Rate is lower (1-4 months)

Buyers Market – Absorption Rate is higher (7+ months)

There is an average of 2,300 homes currently on the market in Lakeland. Taking into consideration last year’s number – 1624 homes sold in Lakeland, Florida; it would take approximately 17 month to sell its present inventory – a true buyers market.

Too many choices – Are you paralyzed?

Do you fear home buying?

Lakeland’s average sold prices declined by 18% in 2008; predicting a continued decline due to a significant increase in the distressed home sales market.

Do you suffer from “House Karma”?

Copyright © 2009 http://www.petranorris.com| All Rights Reserved|

Lakeland Florida – Review of the Real Estate Market in recent Years

Petra Norris – Realtor®

Licensed Florida Real Estate Broker

CDV TransAtlantic, Inc.

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

Telephone (863) 618-6919

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

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

 

 

Lakeland Residential Weekly Market Report for 3/10/08-3/17/08 – Polk County, FL

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

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

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