South Tampa Luxury Real Estate Market-Sales Statistics

September South Tampa Luxury Home Report-Courtesy of Bayshore Title 

Our commentary this month states that sales at the upper end of the market “continue to languish as sellers ignore the new reality of value.” So what is the new reality?

Listed below are the sales for the month of September above $600,000. The Prices per Square Foot are well above the South Tampa average of $154, but substantially less than you might expect for some of the best neighborhoods in Tampa Bay. Sellers in the higher price ranges have been more reluctant to price their homes accordingly, and so the upper end remains frozen.

                         Sold Price                               Price / Sq. Ft.     Comments
464 W. Davis Blvd.   $712,000                                    $218 Desirable Davis Islands home
2520 W. Shell Point Road   $717,000                        $196 Unique setting;  newer home
513 S. Orleans Ave.   $765,000                                  $211 Heart of Hyde Park
4625 W. Sunset   $865,000                                         $218 New custom construction
2611 Prospect   $860,000                                           $239 New Suburb Beautiful home
2411 S. Dundee   $900,000                                         $315 Great water open bay views

4911 Saint Croix   $905,000                                       $213 Classic Culbreath Isles
702 Bella Vista   $1,485,000                                       $268 Almost new Beach Park home
4902 Saint Croix   $1,500,000                                   $333 Culbreath Isles canal
490 Lucerne   $1,700,000                                           $287 Mediterranean on canal
482 Lucerne   $1,959,000                                            $359 Brand new custom on canal
44 Martinique   $2,430,000                                        $388 Newer home on great canal

Over The Top
We have talked with so many Realtors and homeowners who suffer from what we will call the “Over The Top Syndrome”. They price their homes just “over the top” of the market – in spite of the best advice of their Realtor – thinking, I guess, that they will get lucky and get a buyer who is willing to pay above-market prices because their home is so special. Three months later, after no offers have been made, they reduce their sales price to where it should have been in the first place, only to find that prices have declined and they are still “over the top.”

Sellers should keep in mind the numbers: in the $600 – $800,000 price range, for example, there are 97 listings; last month, there were only three sales. We hope this information is helpful in determining a price at which your home would sell in today’s market. For more information, contact – and listen to – your Realtor.

To view all homes for sale in South Tampa or to receive a comparable market analysis of your house visit our South Tampa MLS site