Lakeland Real Estate ended the year on a high note in sales. With 194 homes sold overall, a 43% increase from the previous year, the month of December proved to be the best month for 2009 with an average sales price of $123,865, a 1% increase from the previous month.
Lakeland Homes sold in December: 194 – previous month: 174 – previous year December 08: 136 sold
While home prices are at 2004 level and still showing signs of downward market adjustments, the adjustments for December compared to last year’s figures are no longer in double digits. Although the distressed properties continue to power market values for Lakeland Real Estate, I suspect in the coming month that we see the market will stabilize.
December – average sales price $123,865
Previous month: $122,590 (+ 1%) – previous year December 08: $134,370(-7.82%)
December – median sales price $113,950
Previous month: $119,000 (-4.24%) – previous year December 08: $125,420 (-9.15%)
The graph below represents average and median prices in Lakeland for various categories.
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.
Which zip codes represents the most sales activities since January 2009?
Distressed properties in Lakeland, Florida
For the month of December, Lakeland’s real estate market of distressed homes and bank-owned (REO) properties had a market share of 53%. There were a total of 103 properties sold in December compared to 49 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.
Average days on market (DOM) for bank-owned properties are 49 days
Average days on market (DOM) for other distressed properties are 146 days.
28 Distressed Homes Sold – average sold price $118,425 – median sold price $122,000
75 Bank-owned (REO) sold – average sold price $94,819 – median sold price $80,000
For more information on the location of these sold homes in Lakeland, price and size of the home click on map picture which leads you to the interactive Community Walk map created by Chuck Welch of Lakeland Local.
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