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Polk Housing Market
August 13th, 2013 10:08 AM

So far this year, the existing housing market in Polk County is making great strides in both sales and price increases.  The last few months have especially seen double digit increases from years past.

Last month there was a decline in inventory of 12.52% from June of 2012.  Average selling price in Polk County is $117,731, with an increase of 8.37% from a year ago.  The amount of total homes sold has increased by 20% since last year.

Specifically in the Davenport area, the average sold price is $148,105, as reported by sales listed in the Mid-Florida Regional MLS.  This does not take into account any sales by owner or those not listed with a realtor. 

Although the housing market is improving, we have not reached the levels seen prior to 2004.  There are still many underwater homeowners trying to short sale since the mortgage debt relief act was extended through December 31, 2013.  Additionally, as foreclosures continue to drip into the market, the competition to sell homes will continue to be a challenge. 

Despite what is heard in the news nationally, real estate will always be "local" and home prices and other statistics can only be compared by the surrounding real estate market.  Hiring a local experienced real estate agent who can advise in pricing no matter the situation is key in getting a home priced properly and sold within a reasonable time for the most money. 

New home construction has resumed and increased this year in the Davenport area which will also add to home values and be a positive for future sales.

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Posted by Barbara Doeringer on August 13th, 2013 10:08 AMPost a Comment

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