Tampa Bay Real Estate - An overview of the current real estate market in Tampa Florida.
|
|
Business Related Topics...
Entertainment, Recreation & Sports Related Topics...
Health & Fitness Related Topics...
Home & Family Related Topics...
You are here: DIME Home > Real Estate > Tampa Bay Real Estate
An overview of the current real estate market in Tampa Florida.
Author: Jason Beal
Date: Jul 14, 2011 - 6:00:53 PM
Printer friendly page
The Greater Tampa Association of Realtors Market Report shows a total of 1958 properties (single family homes, condos, villas, and townhomes) sold in the month of June, down only 1% from last month. However when compared to June of 2010 this represents a decline of nearly 11%. Properties less than $50,000 continue to take up the bulk of the market as investors come in to buy up these great deals. They accounted for 17.5% of sales or 342 properties. Properties priced between $200,000-$249,999 represented 9% or 173 sales. The lowest segment to move were homes priced between $800,000-$899,999 with three units sold or .15% of market share.
The year to date is showing an upward trend, increasing 8% from last year overall.
Single family home sales are up 5%, while condo sales also increased 22% from the previous year. The average list price was $173,918, while the average sales price was $164,927 and an average of 118 days on the market. This represents a 95% list to sales price ratio. There is 5.8 months of inventory on the market, which is the lowest amount we've seen in years now. This is good news news and represents a downward trend in regards to inventory. As a comparison, at the start of the year we had 11 months of inventory.Back at the beginning of 2008 we had 25 months of inventory!
However we still have our fair share of short sales and foreclosures in the Tampa area. Yes, they are putting downward pressure on pricing and that can be very frustrating for home owners. However I believe in many areas we have broken through the price floor; the worst is over. I also tend to think, in some areas, we may actually be undervalued at this time. There is not going to be a "V" typed recovery in relation to pricing and no it's not almost over. We have plenty of inventory to clear out and this could easily take a couple more years.
That being said I'm seeing many optimistic signs start to come in: Construction has resumed on once abandoned developments, investors are coming from the sidelines (often all cash) to buy properties, and brand new communities are being built. I believe that these events, paired with the slow purge of distressed properties, will help push our market back towards an equal playing field for buyers and sellers.
When listing or buying a property it is essential to have a Realtor who knows the community, understands market data and can price a home correctly.
http://jasonbealsells.com/about/
View all articles by Jason Beal
Tampa Bay Real EstateJul 14, 2011 - 6:00:53 PM The Greater Tampa Association of Realtors Market Report shows a total of 1958 properties (single family homes, condos, villas, and townhomes) sold in the month of June, down only 1% from last month. However when compared to June of 2010 this represents a decline of nearly 11%. Properties less than $50,000 continue to take up the bulk of the market as investors come in to buy up these great deals. They accounted for 17.5% of sales or 342 properties. Properties priced between $200,000-$249,999 represented 9% or 173 sales. The lowest segment to move were homes priced between $800,000-$899,999 with three units sold or .15% of market share.... [Read the full story] |
Where To Start When Buying A HouseJul 13, 2011 - 3:44:21 PM On the subject of the acquisition of a brand new home, there can be a whole lot of confusion, especially if this is your very first property. Among the best possible things you are able to do for your self is to make sure that you are getting the absolute best head start. So many individuals wait till they're in the middle of the home purchase before they start to worry about their credit. Your credit score is the very first thing you want to look into before you begin taking a look at potential homes for yourself. This gives you enough time to correct any mistakes that might be found in your credit score report. If you do not find out about such errors... [Read the full story] |
10 Things To Look For In A Real Estate AgentJun 22, 2011 - 9:19:02 AM Whether it's your first time or fifth time, buying a home is a huge life change. Having a great real estate agent is paramount in making the purchase as easy and enjoyable as possible. So what determines a great real estate agent? This list of ten qualities shows some of the characteristics every home buyer should look for.... [Read the full story] |
Toronto Lofts.Jun 6, 2011 - 7:41:21 AM If you have been searching for a good lofts and condos in the downtown area of Toronto, TorontoUrbanReality.com is your guide to it. The lofts listed by us in several sought-after locations in Toronto are a resource for people to check out the places which will suit them.... [Read the full story] |
| Search for articles: |
|
|
 Putting Up a Small Commercial Printing Business |
| So You Might Be Unemployed And Desire To Become A San Francisco Real Estate Investor Now |
| Meditation and Mindfulness: Dealing With Emotion |
| CPA Websites: Five Essential Ideas for Composing Convincing Articles |
| Set Goals In Order to Come Up With Your Action Plan |
| Is the Air in Your Home Safe to Breathe? |
| Coarse Fishing Tackle Review: The JW Young 13ft Trotter Rod |
| Section 1031 Exchanges For San Diego Real Estate Investors |
| Phoenix Real Estate Investing For Highest Possible Earnings |
| Legendary are the Volk Racing TE37 Wheels |
| Developing the Next Generation Wall Station (ChaseDesk™) for Healthcare - A Case Study |
| What are step down transformers? |
| Introducing Sharehype, the Revolutionary Tool for Online Marketers |
| Rewards To Shopping For Austin Real Estate On The Web |
| Hydroponics for Beginners |
Would you like submit your articles and have them approved on a priority status? Find out more about how you can become a Priority author for pennies a day! Click here.
|
| Dime-co.com Home |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
About
Featured Authors
Subscribe to our RSS feed for immediate alerts