Polk County Real Estate Market Update – February 2011

Polk County’s overall existing home sales increased to a total of 653 Polk County Homes sold in February. Overall Average Polk County home prices still declining from the previous month to $93,705 by 5%.

A look back in history of Polk County’s overall existing median home prices:

  • February 2006 – median price $180,750 (-58.56%) – 672 homes sold
  • February 2007 – median price $180,000 (-58.39%) – 476 homes sold
  • February 2008 – median price $157,000 (-52.29%) – 315 homes sold
  • February 2009 – median price $101,000 (-25.84%) – 453 homes sold
  • February 2010 – median price $85,400 (-12.30%) – 607 homes sold

653 existing homes sold – a 20% increase from the previous month (545) sold homes in Polk County, FL.

Overall median sales decreased also by 6.38% to $74,900 for homes that were sold in Polk County. Take a look at the city you live in and see what the numbers are for February 2011 for existing home sales – single-family homes, condominiums, manufactured homes, duplex, villas, and town homes -including distressed homes 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

83,781

58,000

17

BABSON PARK

52,000

52,000

1

BARTOW

41,063

29,925

12

BRADLEY

25,000

25,000

1

CLERMONT

49,000

49,000

2

DAVENPORT

108,490

97,500

142

DUNDEE

60,400

62,000

7

EAGLE LAKE

58,625

46,750

4

FORT MEADE

109,948

46,338

5

FROSTPROOF

41,670

32,500

10

HAINES CITY

85,985

67,000

41

KISSIMMEE

69,718

65,625

20

LAKE ALFRED

57,333

45,000

6

LAKE HAMILTON

34,050

34,050

2

LAKE WALES

75,795

57,750

29

LAKELAND

94,488

79,950

192

LAKESHORE

14,900

14,900

1

MULBERRY

85,657

78,175

10

POINCIANA

79,726

69,950

65

POLK CITY

48,000

49,000

5

WAVERLY

58,000

58,000

1

WINTER HAVEN

88,763

79,950

80

 

What did Polk County Home Buyers buy?

163 homebuyers bought at a price range of $49,999 and below

278 home buyers bought at a price range of $50,000 – $99,999

136 home buyers bought at a price range of $100,000 – $149,999

46 home buyers bought at a price range of $150,000 – $199,999

12 home buyers bought at a price range of $200,000 – $249,999

6 home buyers bought at a price range of $250,000 – $299,999

8 home buyers bought at a price range of $300,000 – $349,999

2 home buyers bought at a price range of $350,000 – $399,999

1 home buyer bought at a price range of $400,000 – $499,999

1 home buyer bought at a price range of $900,000 – $999,999

Almost 65% of buyers were cash buyers who bought the majority of the Polk County homes that were listed as REO/foreclosures and Short Sales.

 

Let me break down February 2011 Polk County existing homes sales into various categories:

526 Single family homes – median price $83,900 – 164 Average Days to Closing

37 Town homes, villas and duplex units – median price $65,500 – 105 Average Days to Closing

33 Condominiums – median sold price – $50,000 – 215 Average Days on Closing

57 Modular, manufactured/mobile homes in park/out of park – median sold price $48,900 – 179 Average Days on Closing

Overall Polk County’s Foreclosure and Short Sales Prices – February 2011!

There were 225 existing Polk County homes sold, not categorized as distressed properties, at a median sold price of $86,100 with 199 average days to closing.  Traditional sales counted for almost 34.50% of our total sales. The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales continues to dictate the Polk County real estate market as it accounted for 65.39% of our total sales for the month of February.

327 sold homes were foreclosures/REO Bank Owned – median price $65,900 – Average Days to Closing 116.

100 sold homes were Short Sales – median price $80,000 – Average Days to Closing 248.

Copyright © 2011 By Petra Norris * Polk County Real Estate Market Update – February 2011*

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