Lakeland Fl Homes for Sale – Short Sale and Foreclosure Market Report for November 2010

Lakeland Fl Homes for Sale – Short Sale and Foreclosure Market Report for November 2010

For the month of November, the Lakeland real estate market of short sales and bank-owned (REO) homes sold decreased to 54.89% from the previous month, reasoning the recent foreclosure moratorium. There were a total of 100 distressed homes sold, compared to 100 in October and 94 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.

Currently there are a total of 1937 Lakeland FL homes for sale and 442 homes under contract (12/23/2010). By calculating total inventory, homes that are under contract which are included in my inventory share because these properties have not closed in which a buyer could walk away at any given time.

Bank owned properties – Inventory share is 17.86%

Short sale properties – Inventory share is 26.57%

The Graph below compares sold homes in all categories – Traditional Sales (None Distressed), Lakeland Foreclosures (REO) and Lakeland Short Sales.

Lakeland Fl Homes for Sale - Short Sales and Foreclosure Market Report

Average days to Closing for bank-owned properties are 114 days

Average days to Closing for short sale properties are 258 days.

15 Lakeland FL Short Sale properties sold – average sold price $136,087 – median sold price $120,000

58 Lakeland FL Foreclosures (REO) sold – average sold price $80,716 – median sold price $65,600.

You can see from the graph below, zip code 33810 had the most foreclosed properties in Lakeland, FL sold.

Lakeland Fl Homes for Sale - Short Sales and Foreclosure Market Report

Looking for a great deal on Lakeland Short Sales and Lakeland foreclosures, feel free to contact me at petra@petranorris.com or click the search button below.



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