Real Estate Market Update for Polk County – November 2009

I was recently asked by a reader why are my Real Estate Market Statistics being published later in the month. I simply replied that I want to be as accurate as I possibly can to my readers and followers.  Generally, I blog about my monthly Lakeland Real Estate Market Report around the 15th of each month for the preceding month and for my Polk County Real Estate Market towards the end of the month.

Generating monthly market reports too early can lead to erroneous statistics which I learned the hard way.  Realtors® get their information from the Multiple Listing Service (MLS) and although we have to input listings, changes to a listing and information when a property was sold within a short time, real estate agents fail to report the data in a timely manner.

As far as my Polk County market reports concerns,  the same thing applies for reporting requirements from each real estate agent and with thousands of properties being listed in the MLS and hundreds of listings sold every month, accuracy and timing of my Real Estate Market reports is important to me.  And for an added bonus, I wait until I receive the National and Florida Real Estate Market Report so you’ll see not only what happens in Polk County, but on state and national level as well.

So without further ado, here is my real estate update for the month of November 2009 in and around Polk County.

The National Association of Realtors® reports that existing homes sales remained very strong for the month of November giving credit for the first time homebuyers program. 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

AUBURNDALE 110,156 125,000 21
BARTOW 92,496 79,000 21
CLERMONT 54,833 62,500 3
DAVENPORT 137,355 132,500 110
DUNDEE 78,342 86,625 3
EAGLE LAKE 82,425 88,350 4
FORT MEADE 74,467 67,500 6
FROSTPROOF 103,925 70,000 6
HAINES CITY 118,744 115,000 43
HOMELAND 27,500 27,500 1
INDIAN LAKE ESTATES 43,000 43,000 1
KATHLEEN 160,000 160,000 1
KISSIMMEE 99,265 70,000 17
LAKE ALFRED 89,283 97,350 6
LAKE WALES 79,657 57,500 14
LAKELAND 122,591 119,000 174
MULBERRY 112,090 125,100 25
POINCIANA 94,498 79,500 57
POLK CITY 50,667 50,000 3
WINTER HAVEN 102,082 90,000 73

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”.

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