Buyers Outpacing Sellers In Polk Real Estate Market

Buyers Outpacing Sellers In Polk Real Estate Market

The April 26, 2016 Orlando Sentinel article “The upside to Florida Real Estate” identifies the strengths too purchasing property in Florida.  The author begins with the “Great Prices” that Florida homes sales offer. According to the Lakeland Ledger’s April (2016) Polk is seeing steady gains in home sales, Florida’s $209,500 median sales price in March 2016 is a 10.3 percent increase compared to 2015. Statewide there were 23,758 closed sales on single-family homes during March. New listings rose 5.6% compared to March 2015. Statewide, the 23,758 closed sales on single-family homes during March 2016 which represented a slight 0.6 percent decrease from a year ago. New listings across the state for existing single-family homes last month rose 5.6 percent from a year ago.

The Polk housing market saw gains in both the number of home sales and median prices. The 792 closed single-family home sales in Polk represented a 9.4 percent increase compared to last year, while the median price of $159,450.00 was a 13.9 percent improvement from a year ago. According to Orlando Business Journal home sale volumes are beginning to rise and this is supported in Polk as buyers are outpacing sellers in the market. Low mortgage rates remain across the state are also contributing to the increases. Mortgage rates are remaining at the lowest levels since the 1960s. Lower rates multiply a buyer's financial power. Even half a percent can make a sizeable difference. For example, on a $200,000 home, half of 1 percent could save the homeowner about $815 a year. Buyers can get more home for the money, which is a perfect scenario for families looking to upsize.

Finally, let's not forget the things that brought people to Florida in the first place, and will continue to attract them -- beautiful beaches, fabulous weather and a friendly business climate, with no state income tax. It's no wonder that Florida's combination of temperate climate, outstanding recreational amenities and economic opportunity has consistently put the Sunshine State in the top three of Harris Poll's "Most Desirable Places to Live" survey.

The time is now for buying or selling in the Florida Real Estate market more specifically Polk County.

Polk sees steady gains on home sales, median prices during March, Lakeland Ledger April 21, 2016

The Upside to Florida Real Estate, Orlando Sentinel April 26, 2016

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Dated: April 26th 2016
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