Lakeland FL Housing Market – Positive Sales – June 2012
Overall Existing Lakeland FL home prices and sales remain positive in June. Average and median prices increased from previous year by double digits, however median prices decreased from previous month. Even though the overall housing market shows eight months of housing supply, current pending sales are increasing to 769 housing units. The current housing inventory of actively Lakeland Fl homes for sale stands at 1181 (08/01/12).
Distressed properties continue to be a major contributor in determining market values for Lakeland FL homes. June market share of distressed homes, however, had increased to 48% which is an indication that buyers are more willing to stick with short sales as banks are willing to approve short sales in a shorter time frame.
Lakeland Homes sold in June: 245 previous month: 225 – previous year June 11: 227 sold
June – average sales price $129,132
Previous month: $121,092 (6.64%) – previous year June 11: $96,316 (34.07%)
June – median sales price $102,500
Previous month: $109,900 (-6.73%) – previous year June 11: $80,990 (26.56%)
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.
Distressed properties in Lakeland, Florida
For the month of June Lakeland’s real estate market of distressed homes had a market share of 48%. There were a total of 115 homes sold in June, according to Mid-Florida Regional MLS. There were 70 bank-owned/REO sold and 45 Lakeland FL short sales sold.
If you are interested in a specific area or neighborhood in Lakeland Florida or the surrounding cities such as Bartow, Winter Haven, Auburndale, Mulberry or Plant City, feel free to contact me at 863-619-6918; email petra[at]petranorris.com or click the search button below.