A stable Lakeland Real Estate Market is a key factor for the housing market to rebound. For the month of January a total of 145 homes were sold overall. Last year’s overall Lakeland Florida Real Estate market was somewhat of a roller coaster ride with home prices up and down throughout the year. — Petra Norris
Full Size Map Lakeland Homes Sold January 2010
The report from Petra Norris at Lakeland Florida Living…
Will the roller coaster ride continue in 2010? For the past few months, since October 2009, average housing prices have actually increased by almost 9%.
Lakeland Homes sold in January: 145 – previous month: 194 – previous year January 09: 115 sold
January – average sales price $126,320
Previous month: $123,866 (+ 2%) – previous year January 09: $130,334 (-3.08%)
January – median sales price $112,900
Previous month: $113,950 (-0.92%) – previous year January 09: $96,000 (17.6%)
Lakeland homes sold that are priced right will sell quickly. In my analysis of last month activity shows that home owners, who are having their properties marketed at the right price, achieve 97% of the list price. Here is a breakdown:
0-30 days – 96.92% average sold price/list price ratio
31-60 days – 98.22% average sold price/list price ratio
61-90 days – 95.4% average sold price/list price ratio
91-120 days – 93.23% average sold price/list price ratio
121+ days – 92.28% average sold price/list price ratio
Distressed properties in Lakeland, Florida
For the month of January, Lakeland’s real estate market of distressed homes and bank-owned (REO) properties had a market share of 60%. There were a total of 88 properties sold in January compared to 60 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.
After further evaluation of my Lakeland Real Estate Market and to my readers who follow the distressed market report closely deserve clarity. Starting out with January’s Real Estate Report, the distressed market report will have its own report. Please check back soon for your detailed Lakeland Florida Real Estate report that highlights bank-owned properties (REOs) and Lakeland Short Sales.