Hi folks, here is my weekly update on newly listed Lakeland properties! There were 76 homes newly listed in Lakeland with an average sales price of $194,453 or $95.50 per square foot. While the numbers of newly listed properties decreased from 84 homes the previous week to 76 listed with area Realtors®; we have seen a steady inventory in recent months at about 2,200 properties that are actively marketed for sale according to the Multiple Listing Services (MLS).
Let’s give the inventory some perspective – during the height of the market around June 2005 our inventory was at 473 homes and the month of supply was at 1.16. In February of 2008, the property inventory grew to over 3,000 home, that translates to approximately a 28 month of supply. We continue experiencing a high volume of inventory, but all in all we are reaching the levels of 2006. Amongst the newly listed properties, here is a breakdown of category:
3 ½ duplex listed for sale at $79,966
1 condo is listed at a sales price of $89,900
3 mobile homes listed with an average sales price of $122,766
2 townhomes/villas with an average sales price of $126,250
67 single family homes with an average price of $206,385
The priciest home that came newly on the market is a 1948 luxury pool home located in the historic Lake Hollingsworth neighborhood; featuring 5 bedrooms and 3-2 ½ baths with over 5,200 square feet of living space currently offered for $1,025,000. On the contrary, the cheapest home newly on the market is a 3 bedroom 1 bath bank-owned home in the Hilltop Heights subdivision, listed for $49,900 – just under $60.00 per square feet. The data for this report was obtained from the Mid-Florida Regional MLS, it is deemed reliable but not guaranteed. This report does not include “For Sale By Owner”.
Take a look at the breakdown by zip code:
33801 – 07 with an average sales price of $95,442
33803 – 12 with an average sales price of $225,846
33805 – 06 with an average sales price of $150,716
33809 – 11 with an average sales price of $161,981
33810 – 10 with an average sales price of $204,060
33811 – 07 with an average sales price of $140,771
33812 – 03 with an average sales price of $278,800
33813 – 16 with an average sales price of $261,431
33815 – 04 with an average sales price of $167,200
Weekly update on distressed properties in Lakeland
A total of 501 properties are currently facing foreclosure. Newly listed were 28 Lakeland homes for sale in the distressed category with average prices of $122,489 or $73.35 per square foot. Distressed homes are categorized as “Bank-Owned”, “Require 3rd party approval (Short Sale)”, “Pre-foreclosure”, and “In-Foreclosure”.
For more information on the location of the properties newly listed in Lakeland, pricing and size of the homes click on map picture which leads you to the interactive Community Walk map created by Chuck Welch of Lakeland Local.
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Would you like to do your own search for properties? Look no further, click on the “Search for Homes” icon or contact me directly at (863) 619-6918.
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Lakeland Florida Homes for Sale – Weekly Update for Newly Listed Homes
Licensed Florida Real Estate Broker
CDV TransAtlantic, Inc.
P.O. Box 92050 – Lakeland, FL 33804-2050
Telephone (863) 618-6919