Overall Polk County Existing Home Prices for August 2010
Polk County’s overall existing home sales inched up a bit for numbers of homes sold for the Month of August with a total of 637 properties sold. The decline in home prices remains a constant in the overall existing housing market. Florida’s median housing prices for existing homes in August was $134,000 down 9% from the previous year. Prices continue to decrease downwards blaming it still widely on discounted distressed sales throughout the county from the previous year and years’ prior and high unemployment rates.
Media outlets reporting housing statistics of median home prices primarily of single family homes and condominiums. My report of the Polk County real estate market shares median home prices and average home prices. The graph below indicates overall average home prices in Polk County since January 2009.
A look back in history of Polk County’s existing home prices:
- August 2006 – median price $190,000 (-53.68%) – 820 homes sold
- August 2007 – median price $170,000 (-48.24%) – 511 homes sold
- August 2008 – median price $138,950 (-36.67%) – 430 homes sold
- August 2009 – median price $101,000 (-12.87%) – 553 homes sold
637 existing homes sold – a slight increase from the previous month (617 sold homes) in Polk County, FL.
Overall sales decreased marginally to $88,000 in Polk’s median price for existing homes from the previous month of $89,000, however, the Polk’s median home price from the previous year is showing a double-digit decline by 12.87%. Take a look at the city you live in and see what the numbers are for August 2010 for existing home sales – single-family homes, condominiums, manufactured homes, duplex, villas, and townhomes -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 Pric Median Sold Price # of Homes Sold
|INDIAN LAKE ESTATES||89,500||89,500||2|
Let me break down August 2010 Polk County existing homes sales into various categories:
- 537 Single family homes – median price $96,000 – 141 Average Days to Closing
- 28 Townhomes, villas and duplex units – median price $66,500 – 128 Average Days to Closing
- 42 Condominiums – median sold price – $66,750 – 150 Average Days on Closing
- 30 Modular, manufactured/mobile homes in park/out of park – median sold price $34,750 – 202 Average Days on Closing
Overall Polk County’s Foreclosure and Short Sales Prices – August 2010!
There were 222 existing Polk County homes sold, not categorized as distressed properties, at a median sold price of $117,000 with 160 average days to closing, which counted for almost 34.85% of our total sales. The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales counted for 65.15% of our total sales in Polk County for the month of August.
- 328 sold homes were Bank Owned – median price $70,000 – Average Days to Closing 105.
- 87 sold homes were Short Sales – median price $90,000 – Average Days to Closing 249