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.
Mortgage rates took a significant drop from a recent high of 4.94 percent on November 15, 2018, to 4.06 percent the first week of April 2019.
March 2019 home sales in Hillsborough and Pinellas Counties are still strong at 4,307, but are fewer than in March 2017 (4,746) and 2018 (4,462).
Tampa Bay home prices have reached peak pricing of June 2006. If adjusted to 2006 prices to reflect the 12 years of inflation; however, the price is still 25 percent lower.
First Quarter Average Home Price has remained steady at $228,333 in Tampa Bay. This is 1 percent higher than the average price in all 2018, but is 7.5 percent above first quarter 2018 prices.
Home sales in 2018 have continued at the hot pace of 2017 for a significant drop in December. It is hard to determine whether continued shortage of inventory, stock market volatility or rising interest rates are to blame.
