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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Managing Broker - CDV TransAtlantic, Inc.
(863) 619-6918
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.