Lakeland Real Estate Blog by Petra

Polk County Existing Home Sales for January 2010

Slow start of the overall Polk County Home Sales in January when comparing sales history for the past year. Although average Polk County home prices have somewhat been stable in recent months, the number of homes sold in Polk County took a nose dive when comparing the number of sales from the past few months. If you are a person that is visual like me, just take a look at the chart below to see what I’m talking about.  Please keep in mind, the figures reflect all homes as indicated below, not just single family homes you see in media reports.

500 existing homes sold – a decrease of 21% from the previous month (636 sold homes) in Polk County – an increase in sales activity of 111 Polk County homes sold from the previous year. Overall Polk’s median price for existing homes decreased by 1 ¾% from the previous month to $97,950, however remained almost the same from the previous year of $98,000.

Take a look at the city you live in and see what the numbers are for January 2010 for existing home sales – single family homes, condominiums, manufactured homes, duplex, villas, and townhomes -including distressed properties 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

Let me break down January 2010 Polk County existing homes sales into various categories:

• 447 Single family homes, townhomes, villas and ½ duplex – median sold price $103,000 – 148 Average Days to Closing
• 19 Condominiums – median sold price – $65,000 – 149 Average Days on Closing
• 34 Modular, manufactured/mobile homes in park/out of park – median sold price $56,500 – 233 Average Days to Closing

Let’s take a look at the distressed Polk County real estate market!

There were 183 existing homes sold, not categorized as distressed properties, at a median sold price of $130,000 with 206 average days to closing, which counted for almost 37% of our total sales. The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales counted for 63% of our total sales in Polk County for the month of January.

• 234 sold homes were Bank Owned – median price $79,450 – Average Days to Closing  81
• 83 sold homes were Short Sales – median price $102,000 – Average Days to Closing 247

Polk County Existing Home Sales for December 2009

Overall Polk County Home Sales rose and prices fell in 2009 from the previous year. Is this true in your neck of the woods? I’m sure you heard about that this is a buyer’s market in the news and media outlets, but is it really? Real Estate still remains very local and real estate statistics in each town or even in each neighborhood/community could differentiate by a great margin resulting in a seller’s market. Therefore consulting with a local Realtor® with market knowledge and experience is essential to your home buying or home selling needs.

636 existing homes sold – an increase of 7.98% from the previous month (589 sold homes) in Polk County – an increase in sales activity of 185 Polk County homes sold from the previous year. Overall Polk’s median price for existing homes decreased by 4.59% from the previous month to $99,700 and declined 18% from the previous year of $122,000.

For a more detailed report such as homes listed by cities throughout Polk County and distressed properties please continue to read by clicking this link

The Florida Association of Realtors® reports that existing home sales rose 61% in November from the previous year, showing for the past 15 months that overall real estate sales in the State of Florida have increased.  While much credit is given for the extended and expanded homebuyers tax credit for the increased sales activity in the past, the decline in home values and sales prices resulting from the increased sales of distressed properties and foreclosures.

Florida’s median sales price for existing homes last month continued downwardly to $139,000 for a 12% ($158,200) decrease from the previous year and less than 1% ($140,300) from the previous month.

The Polk County’s overall housing prices improved slightly.

589 existing homes sold – a slight decrease of 3.6% from the previous month (612 sold homes) in Polk County – an increase in sales activity of 220 Polk County homes sold from the previous year. Overall Polk’s median price for existing homes increased from the previous month to $104,900; however, dipped 17% from the previous year of $127,000. 

Take a look at the city you live in or want to move to and see what the numbers are for November 2009 for existing home sales - single family homes, condominiums, manufactured homes -including distressed properties in Polk County.

City                                                  Average Sold Price             Median Sold Price        # of Homes Sold

Let’s take a look at the distressed Polk County real estate market!

Distressed properties, which includes Bank owned, pre-foreclosure, in foreclosure and short sales count for 57% of our total sales in Polk County for the month of November.

• 250 sold homes were Bank Owned – median price $75,000 – Days on Market 26
• 80 sold homes were Short Sales – median price $115,500 – Days on Market 111

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 all of your Polk County home search, click on the search picture below: