Lakeland real estate sales activity decreased for August, there were 166 homes sold down 12% from the previous month of 188. While prices are also lagging behind the numbers from last year, home sales increased by 27% from August 2008 in Lakeland, Florida.
While the median prices held steady for August at $130,000 for homes sold in Lakeland when compared to the previous month. Average sold prices decreased to $136,324 ($73.75 per sq.ft.) or 8% from the previous month and 13% from the previous year, respectively for Lakeland Real Estate.
Average Lakeland Sold price for August 2008 – $155,918– decrease of 13%
Median Lakeland sold price for August 2008 – $140,000 – decrease of 7%
Distressed properties in Lakeland, Florida
For the month of August, distressed homes and bank-owned (REO) properties had a market share of 45% in the Lakeland Real Estate market.......
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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.
Mmmm....I find statistics from your area to be very informative. Florida, Arizona, Nevada, California...they are like "canary in the mine" markets, I think, and are bellweathers for other areas.
I would think that much of the decrease in sales prices from the previous year has much to do with the increased number of distressed sales.