Lakeland, FL

July showed that there were some positive signs in Lakeland real estate market that I would like to share it with you.

Lakeland Homes sold in July: 188 - previous month: 169 – previous year July 08: 149 sold

Which zip codes represents the most sales activities since January 2009?

Lakeland Real Estate average and median home prices

Average sales price in July: $147,904 – previous month: $145,767 – previous year July 08: $168,425

Median sales price in July: $130,000 – previous month: $125,000 – previous year June 08: $150,000

The graph below represents average and median prices in Lakeland for various categories.

What are the various average prices in each Lakeland zip code?

Take a look at my spreadsheet below. I’ve separated the report by zip code instead of school zones; it gives you a more accurate report in my opinion. The data and graphs for this report were obtained from the Mid-Florida Regional MLS, it is deemed reliable but not guaranteed. This report does not include “For Sale By Owner”. The numbers highlighted in pink represents the zip codes where average sold prices have exceeded.

Let’s break it down for you to see the supply and demand for common properties for sale versus the distressed market in the Lakeland real estate market.

Common properties only – Inventory active and pending 1672 homes resulting in 16 month of supply.

Distressed properties – Inventory active and pending 768 homes resulting in an 11 month supply.

Distressed properties in Lakeland, Florida

For the month of July, distressed homes and bank-owned (REO) properties had a market share of 40% in the Lakeland Real Estate market. There were a total of 75 properties sold in July compared to 37 distressed Lakeland homes sold the year prior – 25% market share, according to Mid-Florida Regional MLS.

24 Distressed Homes Sold - average sold price $128,189 – median sold price $120,000

51 Bank-owned (REO) sold – average sold price $95,416 – median sold price $97,580

For a more detailed report, which includes an interactive map and graphs, please visit by clicking this link to my Lakeland Market Reports

Let’s take a look at last month sold report for the surrounding cities in Polk County:

Winter Haven - 82 properties sold - average sold price $106,536 - average $61.09 per sq.ft.

Bartow - 17 properties sold - average sold price $92,666 average $52.51 per sq.ft.

Mulberry - 10 properties sold - average sold price $117,631 - average $69.23 per sq.ft.

Auburndale – 15 properties sold - average sold price $125,509 - average $65.31 per sq.ft.

Polk City - 3 properties sold – average sold price $130,000 - $104.14 per sq.ft.

Lake Alfred – 2 properties sold – average sold price $81,500 - $44.25 per sq.ft.

If you are interested in a specific area or neighborhood, feel free to contact me at petra@petranorris.com or click the search button below.

Bi-weekly update for the Lakeland real estate market! Currently, there are 1952 homes for sale throughout Lakeland – as of 08/12/09. The homes newly listed for sale dropped from two weeks ago to 129 homes in Lakeland with an average sales price of $176,288 or $90.32 per square foot with area Realtors®. Our Lakeland real estate inventory is slightly decreasing from week to week, resulting in a more active market. The types of homes and average prices being actively marketed according to the Multiple Listing Services (MLS) are as follows:

6 condos listed with an average sales price of $93,116

11 mobile homes listed with an average sales price of $66,218

5 Townhomes/Villas listed with an average sales price $115,370

108 single family homes with an average price of $193,815

Another home hit the Lakeland real estate market over the $1 million threshold. The priciest home that came newly on the market here in Lakeland, Florida is a 2000 luxury home overlooking beautiful Lake Hollingsworth; featuring 4 bedrooms and 3 ½ baths with over 4,700 square feet of living space currently offered for $1,250,000. On the contrary, the cheapest home newly listed is a 3 bedroom 2 bath bank-owned property listed for only $22,500 – just over $16.00 per square foot - located in Midpark-Heights.

There is more information about this report by clicking here

When I’m hired as your Listing Agent handling your Lakeland Short Sale, time is of the essence. The lenders may have filed already a Lis-Pendens, which puts the property already in a pre-foreclosure status.

Pricing your home is the most crucial step to marketing and selling – the comparative market analysis that I will provide is comprehensive and more emphasis is given to recent sales comparables similar to your home that are in distress as well as condition. My price suggestions are based on facts and statistics. Competitive pricing will generate more showings and a faster offer.

Multiple Listing Service (MLS) – Listing your Lakeland Short Sale in the MLS has all the information it requires plus a whole lot more. From the maximum pictures it can hold, to detailed information about room sizes, school information and style to elaborate description of your home that will entice a prospective buyer. Sellers deserve the Best when it comes selling their home. Likewise, Buyers deserve the Best information true to the home they want to make it their own.

Marketing Short Sales – My Lakeland Short Sale properties have the same marketing exposure as if it would be a regular Lakeland Home for Sale. From virtual tours to blogging, direct mailing, flyers and the magnitude of web sites available to me – all of them will get your Lakeland Short Sale the exposure it deserves.

Communicating with my sellers is one of my top priorities. Handling a short sale on my seller’s behalf requires discipline, negotiation skills, time management, problem solving skills and patience with all parties involved in a Lakeland Short Sale.

If you are experiencing hardship or facing foreclosure, please contact Petra Norris at (863) 619-6918 for a confidential consultation. You may be qualified to do a short sale and save your Lakeland home from foreclosure.

Click this link for more information about Lakeland Short Sale

TODAY, is August's version of First Friday & this month's theme is once again, the popular "Dog Days of Summer." For those of you that resemble your pooches, there is a dog/owner look-a-like contest. This contest will be held at FastFrame on South Kentucky Avenue. There will also be dog obedience skills competitions & training throughout the Downtown area.

Other First Friday events:

• Local radio personality, Seth Mela from WLKF's Mayhem in the AM will be in Munn Park.
• The SOFA KINGS will be jamming at the Garden Bistro between 6 pm - 8 pm.
• Classic Car Show on Tennessee Avenue.
• Lofty Ideas will be handing out free bandanas for the canines and samples of Italian ice.
• Arts on the Park will have an art reception between 6 - 9 pm with the theme, "Long Days of Summer."
• Mitchell's Coffee House will be featuring the photography of Jose Ramos.

See you there!

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

The beautiful State of Florida is known for it's great retiree population and according to The Ledger article today "Lakeland's Location Brings Honors As a Good Place for Retirees" is proof in the pudding that Lakeland is a great place to live for our senior citizens.

I always say that Lakeland is a great place to live and a lot of my clients say the same thing. While Lakeland's population reached over 93,000 recently, the majority of the population is over 55 years of age, making it a great place to live for Lakeland retirees according to the Lakeland Economical Council's web site.

What brings retirees to Lakeland?

Location, location, location.... centrally and conveniently located between Orlando and Tampa - white sandy beaches all within an hour drive, affordablility in housing with Lakeland's median home prices of $125,000. Medical facilities within reach, outreach programs for elderly, such as Viste, art venues, such as the Imperial Symphony Orchestra, Harrison School for the Arts, Polk Museum of Art, and the Community Theater formerly known as the Pied Piper Players, libraries, beautiful lakes, botanical garden and gorgeous parks.

Golf courses private, semi-private and public and just the small town atmosphere that Lakeland has to offer when walking around downtown. There is always something to do, with volunteer opportunities within our local communities with never a dull moment for our Lakeland retirees. Our weather seems also a big hit with retirees longing for a much warmer climate, especially during the winter months having not to deal with snow and ice on the roads.

I could go on and on - why don't you check out some of the articles I wrote about Lakeland below:

Lakeland Florida - There is no place like home

In Downtown Lakeland Florida - Munns the Word

Lake Hollingsworth Community - Lakeland Florida Historic Community

Lakeland Florida Community - Lake Morton District

If you are searching for communities restricted to over 55 age group here in Lakeland, there are currently over 50 registered communities listed by the Florida Commission on Human Relations.

I hope you found this post useful! If you need help finding or selling your Lakeland, Florida home, please contact me at 863-619-6918. If you’re new to Lakeland, I’d especially like to extend a warm welcome. I value my clients and provide them with honest, reliable service. Allow me to introduce you to the Lakeland real estate landscape and all it has to offer.