Polk County’s overall existing home sales had a record breaking month, which are shown in the numbers in most major cities throughout Polk County. However, prices continue to drift downwards blaming it widely on discounted distressed sales throughout the county from the previous year.
758 existing homes sold – an increase of 21% from the previous month (596 sold homes) in Polk County and an increase in sales activity of 180 Polk County homes sold from the previous year of 578 homes sold.
While overall Polk’s median price for existing homes increased by almost 6% from the previous month to $90,500, the median home price from the previous year is showing a decline by almost 10%.
Take a look at the city you live in and see what the numbers are for March 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
|INDIAN LAKE ESTATES||104,833||35,000||3|
Let me break down March 2010 Polk County existing homes sales into various categories:
- 660 Single family homes, townhomes, villas and ½ duplex – median sold price $98,300 – 142 Average Days to Closing
- 40 Condominiums – median sold price – $64,550 – 193 Average Days on Closing
- 58 Modular, manufactured/mobile homes in park/out of park – median sold price $45,000 – 171 Average Days on Closing
Let’s take a look at the distressed Polk County real estate market!
There were 297 existing homes sold, not categorized as distressed properties, at a median sold price of $114,900 with 183 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.
- 355 sold homes were Bank Owned – median price $75,000 – Average Days to Closing 79
- 105 sold homes were Short Sales – median price $100,000 – Average Days to Closing 273
For your local market report and updates in Lakeland, please visit my blog at www.lakelandfloridaliving.com