Lakeland FL Real Estate – Home Prices for August 2010
Overall Lakeland FL Home prices fell for the 3rd straight month to $115,431 in August. However, the amount of homes sold increased to 187 from July’s home sales. Average and median prices continue to decline from the previous year. While distressed properties continue to be a major contributor in determining market values for Lakeland FL homes for sale, August market share of distressed homes decreased to 57.75% from the previous months.
Lakeland Homes sold in August: 187- previous month: 169 – previous year August 09: 166 sold
August – average sales price $115,431 Previous month: $116,042 (-0.53%) – previous year August 09: $136,324 (-15.33%)
August – median sales price $98,000 Previous month: $99,000 (-1.01%) – previous year August 09: $130,000 (-24.62%)
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, townhomes, villas and duplex units.
What are the various average home prices in each Lakeland zip code?
Take a look at my spreadsheet below. I’ve separated the report by zip code instead of school zones; it gives you a more accurate report in my opinion. The data and graphs for this report were obtained from the Mid-Florida Regional MLS, it is deemed reliable but not guaranteed. This report does not include “For Sale By Owner”. The numbers highlighted in pink represents the zip codes where average sold prices have exceeded.
A total of 2488 Lakeland homes are currently (9/20/2010) for sale and under contract resulting in a 14 months supply, noticing that our inventory increased suggesting that supply continues to be greater than the demand Let’s break it down for you to see the supply and demand for traditional homes for sale versus the distressed market in the Lakeland real estate market.
Traditional homes only – Inventory active and pending 1387 homes resulting in 19 month of supply. Distressed properties – Inventory active and pending 1101 homes resulting in a 11 month of supply.
Distressed properties in Lakeland, Florida
For the month of August, Lakeland’s real estate market of distressed homes had a market share of 57.75%. There were a total of 108 Lakeland homes sold, according to Mid-Florida Regional MLS.
Check back soon for August’s detailed Lakeland Florida Real Estate report that highlights bank-owned properties (REOs) and Lakeland Short Sales.
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