Thousands of New Home Buyers Are Discovering Lakeland
Lakeland is located 40 miles east of Tampa and an hour southwest of Orlando. You can easily live in Lakeland while commuting to either of these cities to work. More importantly for your wallet, you won’t have to pay average home prices of $261,362 to live in Tampa or $299,950 for Orlando.
This recent upsurge in new homeowners has been an absolute blessing for the city. It’s the single biggest factor which is finally liberating it from the smothering shadow of the mid-2000’s financial crisis. Home values are doubling in most areas of the city and are continuing to sell at a very fast clip.
What Kind of People Are Finding Homes in Lakeland?
There is not one single kind of new home buyer in Lakeland. They encompass all races, ages, and financial brackets. Many are students who are coming to the city in order to attend schools such as Southeastern University and Florida Southern College. They can find low-cost apartment housing or even buy a home for the lowest prices in the region.
There are also plenty of retirees and new homeowners who wish to take advantage of the warm climate, brand new housing developments, and generally low home prices. You can live in Lakeland on a much lower budget than you can in any of the neighboring cities and towns. As a result, interest in new properties is at an all-time high.
New Home Construction is on a Major High in Lakeland
A major construction boom is totally transforming the city of Lakeland as well as the surrounding area. As of 2019, a brand new, three-bedroom home in the city can be bought at a median price of $180,000. This is an amazing bargain that home buyers in Tampa or Orlando would be amazed at if they only knew.
Meanwhile, tons of new properties, both commercial and residential, are springing up all over the city. Of course, you can also snap up any of the many condos and townhouses that are already available. Many of these can be found in exclusive gated communities at a price of anywhere between $110,000 and $200,000.
What Are the Major Stats to Be Aware of in Lakeland?
If you are wondering about the major stats you need to pay attention to in Lakeland, they can be summed as follows:
- Forecasted median home price: $161,757
- Predicted sales growth: 5 percent
- Predicted price growth: 7.4 percent
What Do the Stats Say About the Real Estate Market in Lakeland?
As can be seen, the forecast for median home prices is an excellent one. You can not only afford to live centrally located in one of Florida’s fastest-growing cities, but you can also buy a comfortable new home for a price that would be impossible virtually anywhere else in the state.
The prediction for growth in home sales means that there will be plenty of excellent new properties in Lakeland for you to choose from. You may prefer a home in the fringe areas of the region or you may prefer to live directly in the heart of the city.
Even your preferred style of home, whether townhouse, condo, or any other variety, has been fully taken into account. With all of these brand new properties going up at such a fast rate, you can easily take advantage of these amazingly low home prices in order to snap up the property of your dreams.
Meanwhile, the predicted price growth of 7.4 percent means that you can easily afford to go out on a limb and get yourself that home loan you’ve been holding off on. The price you pay for your home can be projected from the stats given above so that you will know the exact amount of the loan you need to apply for.
The Time for You to Buy a Home in Lakeland is Now
There has never been a better time to buy a home in central Florida. And if you’re going to go all in, you may as well find a home in Lakeland. This is the area with the newest houses, the biggest variety of available properties, and the most affordable prices. For all of these reasons and more, Lakeland is the place to be.