Lakeland Florida Market Report for October 2008 - Back to 2004 prices
Hi folks! The month of October has shown that 136 homes were sold in Lakeland at an average price with a continuous decline to just under $150,000. When comparing the data to last year, we have seen that the average sold price of a home decreased by 24% from $184,486 to $149,333. Folks, these are prices we have seen in 2004 here in Lakeland, Florida alone.
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, 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 2,426 of residential homes in active and 247 homes in pending status.
Distressed properties are homes in pre-foreclosure, foreclosure, bank owned, as well as short sales - Of the 136 homes sold last month, 52 homes were sold with an average sales price of $118,382. Only 10 homes were sold the previous year, due to Short Sales and/or Foreclosures.
There are currently 468 homes facing foreclosure.
117 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 $148,632. The priciest home currently on the market is listed for $750,000 and the lowest priced home is $19,000.
Let's take a look at last month sold report for the surrounding cities in Polk County:
Winter Haven - 66 properties sold - average sold price $151,126 - average $81.36 per sq.ft.
Bartow - 14 properties sold - average sold price $129,379 - average $65.62 per sq.ft.
Mulberry - 6 properties sold - average sold price $115,281 - average $68.73 per sq.ft.
Auburndale - 15 properties sold - average sold price $171,558 - average $81.63 per sq.ft.
Polk City - 6 properties sold - sold price $77,159 - $64.63 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 Market Report for October 2008 - Back to 2004 prices
Petra Norris - CDV TransAtlantic, Inc. - Licensed Florida Real Estate Broker -
PO Box 92050 - Lakeland, FL 33804-2050 -
Telephone (863) 619-6918
Petra Norris - REALTOR®, SFR
Managing Broker - CDV TransAtlantic, Inc.
(863) 619-6918
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HI PETRA!
Awesome market report. You've gone all out w/ details & graphs. It's very easy to follow, consumers will appreciate that!