Overall Polk County Existing Home Prices – August 2011

Overall Polk County Existing Home Prices – August 2011

Overall Average Polk County existing home prices increased from the previous month to $104,066 by a small margin of 1/2% . Polk County’s overall existing home sales in August increased to a total of 630, compared to 579 Polk County Homes sold in July 2011. 

A look back in history of Polk County’s overall existing median home prices compared to August 2011 median price of $82,070:

August 2005 - median price $178,000 (-53.89%) - 884 homes sold

August 2006 – median price $190,000 (-56.80%) – 821 homes sold

August 2007 – median price $169,500 (-51.58%) – 512 homes sold

August 2008 – median price $138,950 (-40.93%) – 430 homes sold

August 2009 – median price $102,000 (-19.54%) – 554 homes sold

August 2010 – median price $88,250 (-7%) – 648 homes sold

Overall median sales decreased by 7.26% to $82,070 from the month prior for homes that were sold in Polk County. Take a look at the city you live in and see what the numbers are for August 2011 for existing home sales - single-family homes, condominiums, manufactured homes, duplex, villas, and town homes -including distressed homes in Polk County.  Please take note only sales recorded by Realtors® are taken into account. The source for this data is Mid-Florida Regional MLS Service; it is deemed reliable but not guaranteed.  

City                           Average Sold Price                            Median Sold Price             # of Homes Sold

What did Polk County Home Buyers buy?

149 homebuyers bought at a price range of $49,999 and below

236 home buyers bought at a price range of $50,000 - $99,999

117 home buyers bought at a price range of $100,000 - $149,999

73 home buyers bought at a price range of $150,000 - $199,999

20 home buyers bought at a price range of $200,000 - $249,999

16 home buyers bought at a price range of $250,000 - $299,999

6 home buyers bought at a price range of $300,000 - $349,999

3 home buyers bought at a price range of $350,000 - $399,999

7 home buyers bought at a price range of $400,000 - $499,999

2 home buyers bought at a price range of $500,000 - $599,999

1 home buyer bought at a price range of $600,000 - $699,999

Around 52% of buyers bought the majority of the Polk County homes that were listed as REO/foreclosures and Short Sales.

Most of Polk County home buyers paid cash, in fact 54% of all home buyers in Polk County paid cash.

Let me break down August 2011 Polk County existing homes sales into various categories:

• 534 Single family homes - median price $92,000 – 165 Average Days to Closing 
• 27 Town homes, villas and duplex units – median price $60,000 – 283 Average Days to Closing 
• 32 Condominiums – median sold price - $51,750 – 135 Average Days on Closing
• 37 Modular, manufactured/mobile homes in park/out of park – median sold price $40,000 – 166 Average Days on Closing

Overall Polk County’s Foreclosure and Short Sales Prices – August 2011! 

There were 300 existing Polk County homes sold, not categorized as distressed properties, at a median sold price of $113,250 with 177 average days to closing.  Traditional sales (equity sales) counted for almost 47,62% of our total sales. 

The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales continues to dictate the Polk County real estate market as it accounted for 52.38% of our total sales for the month of August.

191 sold homes were foreclosures/REO Bank Owned – median price $65,000 – Average Days to Closing 113.

139 sold homes were Short Sales – median price $68,000 – Average Days to Closing 227.

I hope you found this post useful! If you need help finding or selling your Lakeland, Florida home, please contact Petra Norris - REALTOR(R) at 863-619-6918. If you’re new to Lakeland, I’d especially like to extend a warm welcome. I value my clients and provide them with honest, reliable service. Allow me to introduce you to the Lakeland FL real estate landscape and all it has to offer.