Lakeland FL Existing Overall Home Prices Rose In October 2011
Average overall Lakeland existing home prices rose to $115,266 in October. Overall median home prices for existing homes in Lakeland Florida increased from the previous month as well as from the previous year. While distressed properties continue to be a major contributor in determining market values for Lakeland FL homes, October market share of distressed homes however, increased to 52% from the previous months which is an indication that banks are willing to approve short sales because short sale closings have improved and foreclosures are picking back up.
Lakeland Homes sold in October: 189 previous month:187 – previous year October 10: 169 sold
October – average sales price $115,266
Previous month: $114,886 (.33%) – previous year October 10: $115,092 (.15%)
October – median sales price $105,000
Previous month: $100,000 (5%) – previous year October 10: $92,000 (14.13%)
The graph below represents average and median home prices 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 are the various average prices 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 sold prices have exceeded.
Distressed properties in Lakeland, Florida
For the month of October, Lakeland’s real estate market of distressed homes had a market share of 52%. There were a total of 98 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[at]petranorris.com or click search button below.
Copyright © 2011 By Petra Norris *Lakeland FL Existing Overall Home Prices Rose In October 2011*
Managing Broker - CDV TransAtlantic, Inc.
(863) 619-6918
Excellent market update. It looks like most areas of the country are slated to see an increase in home prices. Now if we could only see an increase in home sales. As the Lakeland Fl short sale agent to call, you do an fantastic job of keeping clients informed on market trends. Thanks for sharing.
Hi Petra. Great market report! As you have stated, the increase in short sale indicated that banks are more willing to approve short sales.. All the sellers have to do is to make sure they consult an expert Lakeland Fl Short Sale Agents like yourself to guide them through the process. Thanks for sharing.