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Polk County Sales
January 11th, 2012 10:06 AM

Sellers and buyers can both benefit from having the latest information concerning overall sales in a particular area.  A recent article in the Lakeland Ledger listed some valuable statistics for properties sold in Polk County for the month of November, 2011.  The following information will be numbers for existing home sales, single family homes only.

"Overall average Polk County existing home prices decreased from the previous month by 4%, as well as the previous year by 2%.  In Davenport,  the average sold price was $123,005; median sold price was $121,000 and 117 total homes sold in November.   These numbers include all the distressed homes, such as bank owned and short sales." 

Approximately 55% of all home buyers in Polk County paid cash.  Most sales were in the price range of $49,000 to $150,000.  A home price over $200,000 accounted for only 100 homes sold out of a total of 550.  The market is definitely favoring the lower priced inventory. 

For those buyers who require financing, the local appraisals remain low, due to comparables used that must include the distressed sales.   Foreclosed properties tend to sell at a discount of 20 to 30 percent and this definitely hurts those who are selling at normal market prices. 

It will be interesting to see where we are at the end of 2012.  Experts say this year will be a bit better than last, but we will continue to stagger under a slow economy.  A real rebound is still years away.

For buyers, it is still an incredible time to purchase a home; for sellers, a realistic price must be determined to expect any activity or interest.  For both sides, a great deal of patience . . . . . . . . .

 

 

 


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Posted by Barbara Doeringer on January 11th, 2012 10:06 AMPost a Comment

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