Tampa Bay Real Estate Statistics – Second Quarter 2019
Knowing where the market is heading, in addition to a long term-perspective, is valuable to anyone planning to purchase or sell a home. We have put together a resource tab at TomlinStCyr.com which includes how many homes are on the market, the various price ranges that are selling, etc.
Mortgage rates are improving from a recent high. They are the lowest that they have been since 2016.
There has been a slight decrease in home sales in the past quarter. Fewer homes on the market have resulted in fewer sales.
Tampa Bay home prices are up 2.5% from 2018. These increases are now reflecting a long-term trend.
Low interest rates continue to keep homes affordable, particularly as price increases begin to moderate. Low inventory of homes and continued demand keep prices strong with no expectation of a price decline in 2019. Florida continues to have very strong net migration of 1,000-1,500 people per day. Tampa Bay has a net migration of 150-220 people per day, keeping housing demand strong (both purchase and rental).
Home sale rates are tightening this quarter. The rates that we are seeing reflect the lowest June rates of this decade!
A few statistics on homes over $1,000,000 in Tampa Bay: the highest listing on the market is located in Thonotosassa and is priced at $22 million. The highest sale within the last 12 months was located in Belleair Bluffs, priced at $16.5 million. The average sale time of homes over $1 million in Tampa Bay is 35 days.
Tampa Bay Real Estate Statistics – Fourth Quarter 2018
Knowing where the market is heading, in addition to a long term-perspective, is valuable to anyone planning to purchase or sell a home. We have put together a resource tab at TomlinStCyr.com which includes how many homes are on the market, the various price ranges that are selling, etc.