School Changes, Stonebridge for Sale, Change is good?

Change is constant! It touches everything in life and so change is affecting Lakeland. The school board will change the boundary lines for the elementary and middle schools for our kids in Lakeland. When I heard of these changes my first reaction was negative- only because I was in a comfort zone with regard to where my children were going to attend school. I didn't know anything about the Bon Lynn Middle School or Berret's Chapel Elementary school. We live in an age where information is available and we can become more informed about subjects in a shorter period of time than any other time in our history. www.scsk12.org is the website to find out the proposed changes- and it also features information regarding the schools- you can e-mail the principal and other staff at the schools. Stonebridge golf course is still for sale and so far no takers- but the city is currently studying the pros and cons for the city purchasing the property. Why Lakeland will update the information as soon as we know more.

Stonebridge- So much potential! What does the future hold for you!

As a resident of Lakeland, and specifically Stonebridge, I am in awe of the organization of our local Home Owner's Associations. On Saturday there was a meeting to find ways to better communicate news on crime, neighborhood watch reports, lost dogs, etc. The residents there had many ideas on the delivery and I am confident that we will find the right way. It is great to see a local community be pro-active in preventing crime by strengthening the communities. I believe that is vital for Stonebridge and Fairway Meadows to begin Home Owner's Associations in each community to organize and to have strength in numbers when it comes to decisions on Shelby County School re-zoning, the future of Stonebridge golf course, and keeping no city taxes.

Lakeland Parade of Homes

For those looking for new homes or those wanting great ideas on what to use when updating your homes- the Memphis Parade of Homes is in it's final weekend. The communities where you can visit these home are Oakwood, Cool Springs, Winstead Farms, and Ivy Creek. The hours are from 1-6 on Saturday and 1-6 on Sunday.

See you than-

Lakeland State of the Market Part 2

"Given that the real estate market across the nation has been soft recently, how do these inventory numbers for Lakeland compare to previous housing inventory numbers for the area?"

This question was posed to us last week from our previous post-Here is a breakdown of inventory compared to Lakeland:

Lakeland-

• current homes for sale 209 (107 of these homes are built 2005-2007)
• current pending sales 24
  
• 174 Homes Closed (74 homes built 2005-2007)
  

Bartlett

• Current Homes for Sale 536
• Current Pending Homes 63
• 468 Homes closed this year

Germantown

• Current Homes for sale 290
• Current Pending Homes 42
• 339 Homes closed this year

Collierville

• Current Homes for sale 469
• Current Pending Homes 52
• 509 Homes closed this year

Memphis

• Current homes for sale(over $110) 2450
• Current Pending 251
• 1571 Homes closed this year
  

Lakeland- total current state of the market

Lakeland-

• current homes for sale 209 (107 of these homes are built 2005-2007)
• current pending sales 24
  
• 174 Homes Closed (74 homes built 2005-2007)
  

Woodland Park Update

There are seven properties for sale in the Woodland Park Community.
The average price for a home on the market here is $156,485- the average Days on Market is 32 days for these homes.
There is one pending property in Woodland Park at a price of $146,000.

So far this year (2007)- 12 properties have sold in Woodland Park- at an average price $157,944, an average days on market of 27 days, and average price per square foot of $102.43!

In 2006 23 properties sold at an average price of $151,391, and average days on market was 50 days!

Existing and New Construction

New Construction in Lakeland-
87 Currently for sale
Price Range $239,000-$899,900
12 Currently Pending


Existing in Lakeland (Year built 1960-2005)
138 Currently For Sale
13 Pending
Price Range
$132,000-$1 Million

We do not know the current inventory of builder lots in Lakeland or those communities that are asking for approval.

Current State of the Market

The average price of a home that is currently for sale in Lakeland is $381,824.
(Do to New Luxury Homes in Lakeland)

There are currently 202 homes in Lakeland for sale.

There are currently 21 homes that have a Pending contract!

To date since January 2007-September 20th 150 homes have closed in Lakeland!
The average price of these homes is $295,092
The average price per square foot is $105.75
The average days on market is 52 DAYS!

Any other specific information- please feel free to post and we can answer!

Welcome to Why Lakeland Blog

This blog is informational and interactive for the residents and future residents in the City of Lakeland. This blog is brought to you by and presided over by Oak Grove Realty, LLC, Michael Stansbury, Sammy Stover, and Andrea Lee. The content in this blog will be related to Real Estate exclusively in Lakeland and the communities inside the city limits. If you have a question regarding Real Estate in Lakeland, Please Post- we would love the opportunity to answer or opine!