Lakeland Real Estate Housing Report for August 2009

CommunityWalk Map – Lakeland Homes Sold August 2009

Full Size Map Lakeland Homes Sold August 2009

The report from Petra Norris at Lakeland Florida Living

Lakeland real estate sales activity dropped for August, there were 166 homes sold down 12% from the previous month of 188. While prices are also lagging behind the numbers from last year, home sales increased by 27% from August 2008 in Lakeland, Florida.

Median prices held steady for August at $130,000 for homes sold in Lakeland when compared to the previous month. Average sold prices decreased to $136,324 ($73.75 per sq.ft.) or 8% from the previous month and 13% from the previous year, respectively.

Average Lakeland Sold price for August 2008 – $155,918– decrease of 13%

Median Lakeland sold price for August 2008 – $140,000 – decrease of 7%

Distressed properties in Lakeland, Florida

For the month of August, distressed homes and bank-owned (REO) properties had a market share of 45% in the Lakeland Real Estate market. There were a total of 74 properties sold in August compared to 18 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.

30 Distressed Homes Sold – average sold price $124,753 – $65.41 per sq.ft.

44 Bank-owned (REO) sold – average sold price $96,624 – $54.32 per sq.ft.