South Tampa Real Estate Report-Compliments of Bruce Tigert-Bayshore Title, Tampa, Fl
The Number of Transaction continues to surge, beating last August by 10%. The Year to Year Comparison shows a 16% increase over the same period a year ago. Going back to September of last year, we’ve seen steady and sustained growth in the sales figures.
Now take a look at the price indicators. Both the Average and the Median Prices jumped 5% over last year. Even the Average Per Square Foot, my favorite barometer of true value, showed a 5% gain!
Looking at the Twelve Month Trend, the average price for August is 12% higher than the 12 month average and the median price is 15 points up.
Next, check out the Sales By Price Range. The number of listings continues to shrink, down 24% from a year ago. With an absorption rate of 8, it looks like a Seller’s market. If you have been considering selling your home, inventory is at an all time low and prices are stable; this would be the time to do it. If you are a Buyer waiting for the market to hit bottom, you may have missed it. Don’t wait any longer.
It’s going to be interesting to see what happens to the market in the next couple of months. A real recovery can only be defined as “sustained growth in the number of transactions and the sales prices.” We’re seeing the growth; the question is whether it can be sustained.
This report is for the South Tampa area, which includes zip codes: 33606, 33609, 33611,and 33629. Download the full report here…