South Tampa Real Estate Update for December 2011, 33606,33609,33629
4901 W Bay Way Dr. sold for 1.2 million
For the month of December, excluding distressed properties, there were 51 properties sold in the Hyde Park and Palma Ceia area. Single family homes took up roughly 65% of market activity and had a median sales price of $413,500 or 183 per sq/ft. Median list price was $445,000 which yielded a 95% sales-to-list price ratio. The median for days on the market until going under contract was 45. Of these sales 24% were all cash and the remainder were financed with conventional, FHA or VA loans. On the high end was a 5/4 waterfront in Beach Park that sold for 288 per sq/ft or 1.2 million dollars. On the low end was a fixer upper 2/1 on Fig Street that sold for $65,000 after only four days on the market.
The majority of condos that sold were located on Bayshore and ranged in price from $109,000 to 2.2 million dollars. The median sales price for condos in the Hyde Park and Palma Ceia area was $276,000 or 155 per sq/ft. The sales-to-list-price ratio was a bit lower when compared to single family homes in the same area at 91%. The median timeline until a condo went under contract was 71 days and then 94 days until it closed. Seventy percent of these condos were all cash deals with the remainder being a balloon mortgage and conventional loans. On the low end was a 2/2 in Bayshore Trace which sold for $107,500 or 115 per sq/ft, which is a fantastic deal. On the high end was a 4700 sq. ft. penthouse condo in Alagon On Bayshore which sold for 1.8 million dollars or 384 per sq/ft.
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