Overall Polk County Existing Home Sales for May 2010

Polk County’s overall existing home sales continued to improve somewhat in May. However, prices continue to drift downwards blaming it still widely on discounted distressed sales throughout the county from the previous year and the years prior.

A look back in history:

· May 2006 – median price $188,000  (-%50.93)

· May 2007 – median price $184,250 (-%49.93)

· May 2008 – median price $150,000 (-%38.50)

· May 2009 – median price $101,000 (-8.66%)

The graph picture below represents the overall Polk County Real Estate market with average sold prices and the number of sold homes.

Polk County Florida Real Estate Market - May 2010

777 existing homes sold a decrease of 5.13% from the previous month (819 sold homes) in Polk County and an increase in sales activity by 35.84% of overall existing homes sold from the previous year of 572.

A slight increase by 1.37% in overall Polk’s median price for existing homes from the previous month to $92,250, the median home price from the previous year is showing a decline by 8.66%.

Take a look at the city you live in and see what the numbers are for May 2010 for existing home salessingle-family homes, condominiums, manufactured homes, duplex, villas, and townhomesincluding distressed properties in Polk County. Please take note only sales recorded by Realtors® are taken into account. The source for this data is Mid-Florida Regional MLS Service; it is deemed reliable but not guaranteed.

City Average Sold Price Median Sold Price           # of Homes Sold

AUBURNDALE

79,985

72,000

27

BABSON PARK

126,335

79,900

5

BARTOW

78,507

56,875

26

CLERMONT

50,050

48,000

4

DAVENPORT

117,519

110,000

153

DUNDEE

60,220

71,200

5

EAGLE LAKE

86,850

75,000

4

FORT MEADE

69,450

69,450

2

FROSTPROOF

67,333

40,000

3

HAINES CITY

91,256

94,000

47

HOMELAND

120,000

120,000

1

INDIAN LAKE ESTATES

105,250

105,250

2

KATHLEEN

135,000

135,000

1

KISSIMMEE

90,360

76,900

20

LAKE ALFRED

96,333

65,750

6

LAKE WALES

85,155

65,000

29

LAKELAND

121,525

106,500

220

LOUGHMAN

26,000

26,000

1

MULBERRY

121,579

128,388

20

POINCIANA

90,349

70,500

85

POLK CITY

112,216

65,556

10

WINTER HAVEN

107,749

97,000

106

Let me break down May 2010 Polk County existing homes sales into various categories:

· 700 Single family homes, townhomes, villas and ½ duplex – median sold price $112,337 –  142 Average Days to Closing

· 31 Condominiums – median sold price – $59,935 – 155 Average Days on Closing

· 46 Modular, manufactured/mobile homes in park/out of park – median sold price $55,097 –  166 Average Days on Closing

Let’s take a look at the distressed Polk County real estate market!

There were 289 existing Polk County homes sold, not categorized as distressed properties, at a median sold price of $120,000 with 174 average days to closing, which counted for almost 37% of our total sales. The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales counted for 63% of our total sales in Polk County for the month of May.

· 377 sold homes were Bank Owned – median price $77,500Average Days to Closing 85

· 111 sold homes were Short Sales – median price $90,000Average Days to Closing 270


Leave a Reply