Lakeland Fl Real Estate Update – Overall Home Sales for October 2010

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

Lakeland Fl Real Estate Update – Overall Home Sales for October 2010

Overall Lakeland Florida home sales decreased to $114,532 for the month of October, down 4.67% from the previous month.  The number of Lakeland homes sold was the third lowest this year to 166 homes sold, reasoning the recent foreclosure moratorium from. October market share of distressed homes decreased to 60% from the previous month. Distressed properties continue to be a major factor in determining overall market values for Lakeland FL homes for the remainder of this year and 2011.

 

Lakeland FL Overall Home Sales

 

Lakeland overall homes sales in October

166 - previous month:  195 – previous year October 09: 178 sold

October – average sales price $114,532

Previous month: $120,143 (-4.67%) – previous year October 09: $115,971 (-1.24%)

October – median sales price $90,000

Previous month: $100,000 (-10%) – previous year October 09: $108,000 (-16.67%)

The graph below represents average and median home sales for October in Lakeland for various categories. When our media provides us with a real estate market reports, generally these reports outline only Single Family Homes and Condominiums. Lakeland Florida has a variety of homes, such as manufactured homes, town homes, villas and duplex units.

 

Lakeland FL Overall Home Sales

 

 

What was the average sales price in each Lakeland zip code?

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 and graphs for this report were obtained from the Mid-Florida Regional MLS, it is deemed reliable but not guaranteed. This report does not include “For Sale By Owner”. The numbers highlighted in pink represents the zip codes where average home sales have exceeded.

 

Lakeland FL Overall Home Sales

A stable “healthy" housing market has a supply of six month in inventory. Lakeland’s housing market has a total of 2353 Lakeland homes currently for sale and under contract resulting in a 15 months supply, suggesting that the supply continues to be greater than the demand.

Let’s break it down for you to see the supply and demand for traditional homes for sale versus the distressed market in the Lakeland real estate market.


Traditional homes only – Inventory active and pending 1349 homes resulting in 22 month of supply.

Distressed properties – Inventory active and pending 1004 homes resulting in a 11 month of supply.

Distressed properties in Lakeland, Florida


For the month of October, Lakeland’s real estate market of distressed homes had a market share of 60.24%. There were a total of 100 homes sold in October, according to Mid-Florida Regional MLS.

Check back soon for October’s detailed Lakeland Florida Real Estate report that highlights bank-owned properties (REOs) and Lakeland Short Sales.


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.

 

Lakeland FL Homes for Sale




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.

 

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Copyright © 2010 By Petra Norris *Lakeland Fl Real Estate Update – Overall Home Sales for October 2010*

 


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Robert Schwabe
EXP Realty - Orange Park, FL
Orange Park Real Estate

Petra - Great market report. What a great way to keep buyers and sellers informed about the market conditions.

Nov 24, 2010 01:31 PM #1
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Petra Norris

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