Polk County Housing Market Update: April 2024

Polk County Housing Market Update: April 2024

The real estate landscape in Polk County, Florida, experienced a slight shift in April, as the median home listing price dipped marginally compared to the previous month and the same period last year. According to data analyzed from Realtor.com, the median home in the county was listed for $349,000 in April, a 0.3% decrease from March’s $349,950 and a 0.1% decline from April 2023’s $349,500.

While these statistics offer a glimpse into the country’s housing market, it’s important to note that they solely reflect the prices of homes listed for sale and do not account for properties that were successfully sold. For a more comprehensive understanding of the local housing market, along with other valuable community data, residents and interested parties can visit data.theledger.com.

The median Polk County home listed in April boasted a spacious 1,809 square feet, with a median price per square foot of $200. Notably, this price per square foot marked a 1.5% increase compared to April 2023, indicating a potential shift in the market’s dynamics.

One aspect that stood out in the county’s housing market was the pace at which listings moved. In April, homes spent a median of 60 days listed, a slightly longer duration compared to the national median of 47 days on the market. However, this figure represented a marginal increase from the previous month, when homes had a median of 59 days on the market.

Despite the sluggish pace of sales, the county witnessed a surge in new listings in April. A total of 1,632 homes were newly listed on the market, reflecting a 6.5% increase from the 1,532 new listings in April 2023. This influx of new inventory could potentially influence the market’s dynamics in the coming months.

It’s important to note that the median home prices reported by Realtor.com may exclude a significant portion of a market’s homes. The data encompasses single-family homes, condominiums, and townhomes, but excludes most new construction, pending sales, and contingent sales.

Zooming out to the state level, Florida’s median home price in April was $450,000, a slight decrease from March. The median Florida home listed for sale measured 1,640 square feet, with a price of $277 per square foot.

Nationwide, the median home price was $429,950, a slight uptick from the previous month. The median American home for sale boasted 1,840 square feet, with a price of $230 per square foot.

It’s worth noting that the median home list price used in this report represents the midpoint of all the houses or units listed over the given period. Experts suggest that the median offers a more accurate representation of market trends than the average list price, which can be skewed by outliers at either extreme of the price range.