ARE TAMPA HOME SALES UP?

Are Tampa home sales up?  There were 3,596 Tampa home sales in August 2014 with a 3.7% increase over the same period last year which is great news for the Tampa home sales. But, while great news the Tampa home sales are behind the state average increase of 4.2%. The median price for Tampa is $160,000 compared to the rest of Florida which is $181,000. While we may not be on target with the rest of the state, it is still good news and a slower rise in prices is probably a good thing. We certainly don’t want a repeat of the 2006 housing market crash. Also when prices go up we lose some first time home buyers because they are priced out of the market and then have to wait until they have saved more money or receive a pay increase.

If you want to have an idea of how long it would take to sell your home should you want to list it, there is fresh statistical data on that as well. On average the days on market is 74 days and you can expect to get about 92% of your list price. Here is something incredible. Higher priced homes above $700,000 to $800,000 are on the market for about 74 days and are selling for 99% of their list price. That’s really good news for the people that have higher priced homes! When the housing market crashed, very few buyers were willing to pay close to sticker price for a high end home. That has got be great news for anyone who is thinking of listing their high end home.

For more information regarding the national trends click here http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=1&id=313742  to read more.