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

Lakeland Florida Real Estate Market Report for November 2008 – Wonder how many Realtors® got paid?

Hi folks! November proofed to be one of the slowest months since January in sales history for this year with only 105 homes sold in Lakeland. Lakeland has about 135 homes sold average this year. I wonder how many Realtors® received a commission check in November or even this year alone. Let’s take a closer look how long it would take to sell all these homes? According to the Multiple Listing Service (MLS), there are currently over 2600 properties for sale and/or pending (waiting to close). At an average rate of only 135 homes being sold per month, it would take approximately 18 months to absorb Lakeland’s entire inventory without putting any new listings on the market. How long has your property been on the market?
Thinking about dropping the price – stop chase the market!

The average sold price for a Lakeland home in November decreased by 16% from the previous year of $184,486 to $160,282.

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 has decreased below 180,000 since the beginning of this year in Lakeland. The average sold price so far this year amounts to $165,000 in Lakeland.


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


Distressed properties are homes in pre-foreclosure, foreclosure, bank owned, as well as short sales – Of the 105 homes sold last month, 38 homes were sold with an average sales price of $123,287. Only 9 homes were sold the previous year, due to Short Sales and/or Foreclosures.

There are currently 502 homes facing foreclosure.

110 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 $142,945. The priciest home currently on the market is listed for $540,000 and the lowest priced home is $22,900.

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

Check out Florida Mortgage Blogger Kevin Sandridge blog regarding sales in Winter Haven – 56 properties sold – average sold price $126,969 – average $73.11 per sq.ft.

Bartow – 6 properties sold – average sold price $91,650 – average $59.13 per sq.ft.

Mulberry – 5 properties sold – average sold price $138,328 – average $82.83 per sq.ft.

Auburndale – 10 properties sold – average sold price $294,897 – average $94.29 per sq.ft.

Polk City – 3 properties sold – sold price $109,036 – $62.94 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 November 2008 – Wonder how many Realtors® got paid?

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

PO Box 92050 – Lakeland, FL 33804-2050 –

Telephone (863) 619-6918

Lakeland Florida Monthly Market Report August 2008

The month of August was not very encouraging for Lakeland when considering the amount of properties sold and average sold price, comparing the data to the past statistics. The amount of units sold decreased further down to 129 from the previous month of 142 homes sold. The average sold price for August was $156,708 in Lakeland alone, which is a decrease of 5% from the previous month. The time it took a home to sell was an average of 162 days. 

Do you remember what a home sold for on average in Lakeland in August 2007?

The average sold price for a residential home was $192,467.

The total residential properties sold were 199 units.

The average days on market were 141 days.

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 August 2008 was $156,708 and as you can see only 5 zip codes reached above average sales price (highlighted) for the month of August.

 

 

Lakeland’s current inventory reached 2,334 of residential homes in active and 256 homes in pending status.  

Distressed properties are homes in pre-foreclosure, foreclosure, bank owned, as well as short sales – Of the 129 homes sold last month, 28 homes were sold with an average sales price of $132,682. Only 11 homes were sold the previous year, due to Short Sales and/or Foreclosures.

Interested in Lakeland properties facing foreclosure or short sales?

There are currently 410 homes facing foreclosure.

83 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 $158,940. The priciest home currently on the market is listed for $750,000 and the lowest priced home is $24,500.  

 
 

With well over 2,000 homes on the market in Lakeland alone, what does it take to sell your home? Pricing is the most significant factor to get your home sold.  Buyers interested in your Lakeland home will search your neighborhood until they find the best priced home.  Look around yourself in your neighborhood, which homes have sold recently and which homes are still on the market? Chances are homes priced well above are still lingering around and will be there for many more months. You definitely don’t want to chase the market with lowering the price every 30 days. 

Check out the graph here, there is still a big gap 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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

Winter Haven – 64 properties sold – average sold price $159,606 – average $89.56 per sq.ft.

Bartow – 12 properties sold – average sold price $108,375 – average $72.54 per sq.ft.

Mulberry – 10 properties sold – average sold price $104,091 – average $68.17 per sq.ft.

Auburndale – 7 properties sold – average sold price $159,142 – average $86.68 per sq.ft.

Polk City – 9 property sold – sold price $135,944 – $75.99 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 Monthly Market Report August 2008 

Petra Norris

Licensed Florida Real Estate Broker

CDV TransAtlantic, Inc.

P.O. Box 92050 – Lakeland, FL 33804-2050 – Telephone (863) 618-6919

Welcome to Lakeland Florida Monthly Market Report July 2008

 

Not much of a difference happened in terms of properties sold in Lakeland Florida for July 2008. The amount of units sold decreased slightly to 142 in July 2008 from the previous month of 149 homes sold. The average sold price for July was $165,063 in Lakeland, which is a decrease of 7% from the previous month. The time it took a home to sell was an average of 166 days.

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 July 2008 was $165,063 and as you can see only 4 zip codes reached above average sales price (highlighted) for the month of July.

 

 

Lakeland’s current inventory reached 2,336 of residential homes in active and 245 homes in pending status.

Distressed properties are homes in pre-foreclosure, foreclosure, bank owned, as well as short sales – Of the 142 homes sold last month, 34 homes were sold with an average sales price of $108,256. Only 3 homes were sold the previous year, due to Short Sales and/or Foreclosures. We are always hearing the news about foreclosures, so let’s take a look what currently takes place in Lakeland. There are currently 422 homes facing foreclosure, are bank owned or sellers trying to go through the long and tedious short sale process. However, 84 homes are in pending status waiting to close. What are the average prices for these types of homes? The average price currently listed is $163,746. The priciest home currently on the market here in Lakeland is listed for $649,900 and the lowest priced home is $29,000.

 

 


With well over 2,000 homes on the market in Lakeland alone, what does it take to sell your home? Pricing is the most significant factor to get your home sold. Buyers interested in your Lakeland home will search your neighborhood until they find the best priced home. Look around yourself in your neighborhood, which homes have sold recently and which homes are still on the market? Chances are homes priced well above are still lingering around and will be there for many more months. You definitely don’t want to chase the market with lowering the price every 30 days.

Check out the graph here, there is still a big gap 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. August starting out promising with the gap closing in, hopefully it will continue so the supply will drop and demand will increase.

 

 

 

 

 

 

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

Winter Haven – 63 properties sold – average sold price $155,073 – average $89.91 per sq.ft.

Bartow – 14 properties sold – average sold price $118,679 – average $68.88 per sq.ft.

Mulberry – 12 properties sold – average sold price $130,800 – average $70.38 per sq.ft.

Auburndale – 11 properties sold – average sold price $137,755 – average $82.85 per sq.ft.

Polk City – 1 property sold – sold price $154,900 – $75.49 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
|

Welcome to Lakeland Florida Monthly Market Report July 2008

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

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

 

 

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

StatisticsIt 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 1st 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

Lakeland Residential Weekly Market Report for 3/24/08-3/31/08 – Polk County, FL

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.

Lakeland Weekly Real Estate Report 3/31/08There 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 3rd 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

Lakeland Residential Weekly Market Report for 3/17/08-3/24/08 – Polk County, FL

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

 Lakeland’s Residential Market Report 3/24/08

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

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

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