South Tampa Real Estate Market Update for October 2011

348 Blanca Avenue on Davis Islands

South Tampa (Hyde Park and Palma Ceia) saw 27 single family homes sold for the month of October excluding short sales. The median list price was $385,000 with a median sales price of $355,000 for a 94% sales-to-list price ratio. Likewise the median list price per square foot for South Tampa single family homes was $199/per square foot, with an actual sales price of $192/per square foot. The median sized home sold for the month of October was three bedrooms, two baths and 2033 square feet. On the high end was 348 Blanca Avenue on Davis Islands, a stunning 7,000 square foot waterfront estate, which sold for 2.9 million dollars or $419/per square foot. Of the single family homes sold in October 2011, roughly 22% were all cash deals and the remainders were conventional, FHA or VA loans.

Condo sales in South Tampa, excluding short sales, were sluggish at four units sold for the month of October. Three quarters of the inventory sold were condos on Bayshore Boulevard and the remaining property was off of Swann. The median property sold was a 2/2 with 1510 square feet. The median list price was approximately $267,000 with a median sales price of $242,000. The median list price per square foot was $176, and the median sales price was $161. This yielded a 95% sales-to-list price ratio. Of these sales, 25% were all cash and 75% were conventional loans.

When listing or buying a property it is essential to have a Realtor who knows the community, understands the Tampa real estate market and can price a home correctly. If you are interested in buying or selling real estate , I would love the opportunity to work with you. Please call me 813-924-4468 or email me: Jason@jasonbealsells.com