Is Polk City, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Polk City is a buyer's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Polk City was a Neutral Market.

Key Takeaway

Polk City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Polk City, FL

How much do homes in Polk City, FL cost?

Median Sold Price

$313,000

$185/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$13,000(-4.0%)

Key Takeaway

Homes in Polk City have sold for 4% less than they did a year ago.

Summary: The median home sold price in Polk City was $313,000 in May 2024, down 4% from last year, and the median price per square foot was $185.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $322.2K$353K
+9.6%
2 $480K$231K
-51.9%
3 $295K$270K
-8.5%
4 $339K$358.7K
+5.8%
5+ $425K$377.5K
-11.2%

Summary: Polk City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.6%, 2 bedroom homes decreased by 51.9%, 3 bedroom homes decreased by 8.5%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes decreased by 11.2%.

Median Sold Price Compared To Nearby Cities

Auburndale
-2.0%
Polk City
-4.0%

Housing Supply in Polk City, FL

How many homes are available in Polk City, FL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
7475+1.4%

Summary: The Polk City real estate market had 75 homes for sale in May 2024, a 1.4% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 109
-10.0%
2 2320
-13.0%
3 2626
0.0%
4 1014
+40.0%
5+ 56
+20.0%

Summary: The Polk City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 10%, 2 bedroom homes decreased by 13%, 3 bedroom homes remained the same, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Apr 2024May 2024CHANGE
118-27.3%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Polk City, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 8 homes were sold or pending in Polk City in May 2024, down by 27.3% month-over-month. Of the 8 sold homes, 38% were sold under asking, 50% were sold at asking, and 13% were sold over asking.

Days on Market for Polk City, FL

How long does it take to sell a home in Polk City, FL?

Average Sale Time

May 2023May 2024CHANGE
53 Days61 Days+13.6%

Summary: Homes in Polk City had an average of 61 days on market in May 2024, up by 13.6% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Polk City are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 8 homes were sold in Polk City; 63% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 12 Days Ago

Newest Listings in Polk City, FL

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