Tampa Bay Real Estate Update for June 2011

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 last year this represents a decline of nearly 11%. Homes under $50,000 continue to take up the lion’s share of the market as investors swoop in to snap up these deals. They accounted for 17.5% of sales or 342 properties. Tampa homes 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, up 8% from last year overall. Single family home sales are up 5%, while condo sales also increased a whopping 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 positive news and certainly represents a downward trend in regards to inventory. At the beginning of the year we had 11 months of inventory.

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. If you are interested in buying or selling Tampa real estate, I would love the opportunity to work with you. Please call me 813-924-4468 or use the contact form on the left side of the page.