Lakeland Fl Real Estate Update – Overall Home Sales for November 2010
Average overall Lakeland Florida home sales increased to $120,073 for the month of November compared to October 2010. Only 133 Lakeland homes have sold which represents the lowest number for this year. November market share of distressed homes decreased to 55% from the previous month. The majority of Lakeland home buyers bought homes below $200,000. Notably, with almost 32% of Lakeland home buyers purchased homes within the price range between $50,000-$99,999.
Lakeland overall homes sales in November:
133 - previous month: 166 – previous year November 09: 175 sold
November – average sales price $120,073
Previous month: $114,532 (4.84%) – previous year November 09: $123,033 (-2.41%)
November – median sales price $102,000
Previous month: $90,000 (13.33%) – previous year November 09: $120,000 (-15.00%)
The graph below represents average and median home sales for November 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.
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.
A stable “healthy housing market has a supply of six month in inventory. Lakeland’s housing market has a total of 2379. From the chart below you can see the housing trend with respect to Supply and Demand - Absorption Rate.
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.
Lakeland Fl Home Sales - Traditional (only) - Supply and Demand
Lakeland Fl Homes Sales - Distressed (Bank-owned/Short Sales - Supply and Demand
Distressed properties in Lakeland, Florida For the month of November, Lakeland’s real estate market of distressed homes had a market share of 54.89%. There were a total of 73 homes sold in November, according to Mid-Florida Regional MLS. Check back soon for November’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.
Copyright © 2010 By Petra Norris *Lakeland Fl Real Estate Update – Overall Home Sales for November 2010*
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