POLK COUNTY, Fla. —  Are you in the market to build a new home? If so, it’s going to cost you more than it would have last year.


What You Need To Know

  • An average new single-family home is more than $35,000 higher, says a realtor

  • Buyers say it is a bidding war when trying to get a new home

  • Even going over the asking price is not enough, says one buyer

“The price of lumber has gone up significantly,” said Remax Realtor Sean Sanders. “That’s part of what’s driving up those prices.”

An average new single-family home is more than $35,000 higher than it would normally be, according to the National Association of Home Builders. Experts say when the pandemic hit, sawmills shut down production, causing a shortage and creating a backup in home renovations.

“Originally we wanted to build a home,” said Jane, who did not want to reveal her full name. “We’ve been living in Lakeland for 20 years and wanted to get something bigger but it’s so expensive so we decided to look around to buy instead.”

Jane said that this home hunting experience is significantly different than others, adding that out-of-state cash bids typically win the offer.

When you go and look at (the homes), it’s not like you can go home and think about it. You have to put the bid in as soon as you look at the property,” said Jane.  “We went to view one property; it hadn’t been on the market for 12 hours. We offered $25,000 over the asking and we were still outbid.”

Florida is the fastest-growing state in the country and Polk County is ahead of the race. U.S. Census marked Lakeland and Winter Haven as cities in one of the fastest growing counties in the nation, with Sarasota, Cape Coral and Bradenton also placed in the top 10.

“People are doing whatever it takes to win the bid,” explained Sanders. “A house could go up for sale on Friday and it can have 10 to 15 offers by Sunday. I had a buyer looking in Polk County recently and what I found online is there’s actually 1.5% price increases in Polk County as a whole due to transportation, housing and food cost.”

This increase can also be seen in rental apartments as well many people have said they are being asked for up to $250 more a month for their current rental apartment.