Lakeland Florida Short Sale and Foreclosure Market Report – March 2010

By
Managing Real Estate Broker with Lakeland Real Estate Group, Inc. BK646565

Lakeland Florida Short Sale and Foreclosure Market Report – March 2010

For the month of March, Lakeland real estate market of short sales and bank-owned (REO) properties had a market share of 54%. There were a total of 126 properties sold in March, compared to 86 in February and 68 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.

Currently there are a total of 1,945 Lakeland homes for sale and 566 Lakeland homes under contract (04/27/2010). By calculating total inventory, homes that are under contract which are included in my inventory share because these properties have not closed in which a buyer could walk away at any given time.

  • Bank owned properties – Inventory share is 13.50%
  • Short sale properties – Inventory share is 24.81%

The Graph below compares sold homes in all categories – Traditional Sales (None Distressed), Bank Owned Properties (REO) and Lakeland Short Sales

  Lakeland FL Distressed Housing Market - March 2010

  • Average days to contract for bank-owned properties are 51 days
  • Average days to contract for other distressed properties are 179 days.
  • 35 Short Sale Sold - average sold price $117,486 – median sold price $106,500
  • 91 Bank-owned (REO) sold – average sold price $90,390 – median sold price $80,000

Distressed sales are scattered in all parts of Lakeland Florida as you can see from this graph below.

Lakeland FL Distressed Housing Market - March 201

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.

Search for Distressed Lakeland Homes

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Florida Polk County Lakeland
Groups:
Market Updates
City and State
Local Expert
Market Reports
Tags:
petra norris
lakeland foreclosure
lakeland real estate for sale
lakeland distressed market

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
709,157

Petra Norris

Realtor, Lakeland FL Homes for Sale
Ask me a question
*
*
*
*
Spam prevention

Additional Information