Overall Polk County Real Estate Market – February 2010

Overall Polk County Existing Home Sales for February 2010

Polk County’s overall existing home sales increased and it goes along with what has been reported at state and national level with increased sales for February. However, prices continue to drift downwards blaming it widely on discounted distressed sales throughout.

596 existing homes sold – an increase of 19% from the previous month (500 sold homes) in Polk County and an increase in sales activity of 145 Polk County homes sold from the previous year of 451 homes sold.

Overall Polk’s median price for existing homes decreased by 12.5% from the previous month to $85,700 and respectively decreased 15% from the previous year.

Take a look at the city you live in and see what the numbers are for February 2010 for existing home sales – single family homes, condominiums, manufactured homes, duplex, villas, and townhomes -including 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 108,121 100,900 23
BABSON PARK 163,300 56,900 3
BARTOW 90,825 54,000 8
CLERMONT 59,250 63,750 4
DAVENPORT 123,762 110,000 134
DUNDEE 99,633 99,900 3
EAGLE LAKE 42,000 42,000 1
FORT MEADE 45,450 41,000 3
FROSTPROOF 73,317 73,500 3
HAINES CITY 95,050 80,000 36
INDIAN LAKE ESTATES 64,272 64,272 2
KISSIMMEE 83,272 75,500 17
LAKE ALFRED 72,546 61,000 12
LAKE WALES 80,143 62,500 28
LAKELAND 111,819 97,000 153
MULBERRY 120,003 127,000 17
POINCIANA 79,756 70,000 64
POLK CITY 133,359 119,950 6
WINTER HAVEN 110,239 84,900 79

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

  • 514 Single family homes, townhomes, villas and ½ duplex – median sold price $99,000 – 147 Average Days to Closing
  • 39 Condominiums – median sold price – $51,111 – 187 Average Days on Closing
  • 43 Modular, manufactured/mobile homes in park/out of park – median sold price $55,000 – 233 Average Days on Closing

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

There were 232 existing homes sold, not categorized as distressed properties, at a median sold price of $111,000 with 200 average days to closing, which counted for almost 39% of our total sales. The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales counted for 61% of our total sales in Polk County for the month of February.

  • 283 sold homes were Bank Owned – median price $75,000 – Average Days to Closing  87
  • 81 sold homes were Short Sales – median price $98,000 – Average Days to Closing 274

For your local market report and updates in Lakeland, please visit my blog at www.lakelandfloridaliving.com.

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