Lakeland ended the year on a high note in sales. With 194 homes sold overall, the month of December proved to be the best month for 2009 — Petra Norris
Full Size Map — Lakeland Homes Sold December 2009
The report from Petra Norris at Lakeland Florida Living…
Lakeland ended the year on a high note in sales. With 194 homes sold overall, the month of December proved to be the best month for 2009.
Lakeland Homes sold in December: 194 – previous month: 174 – previous year December 08: 136 sold
While home prices are at 2004 level and still showing signs of downward market adjustments, the adjustments for December compared to last year’s figures are no longer in double digits. I suspect in the coming month that we see the market will stabilize. Distressed properties continue to influence market values for Lakeland Real Estate.
December – average sales price $123,865
Previous month: $122,590 (+ 1%) – previous year December 08: $134,370(-7.82%)
December – median sales price $113,950
Previous month: $119,000 (-4.24%) – previous year December 08: $125,420 (-9.15%)
Distressed properties in Lakeland, Florida
For the month of December, Lakeland’s real estate market of distressed homes and bank-owned (REO) properties had a market share of 53%. There were a total of 103 properties sold in November compared to 36 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.
Average days on market (DOM) for bank-owned properties are 49 days
Average days on market (DOM) for other distressed properties are 146 days.
28 Distressed Homes Sold – average sold price $118,425 – median sold price $122,000
75 Bank-owned (REO) sold – average sold price $94,819 – median sold price $80,000