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    New Tampa Home Sales as of September 13, 2021 – Tampa Market Monday

    Happy Monday!

    The New Tampa

    Housing Market Favored Sellers in August 2021!

    Summary of Key Stats Year over Year (YoY) and Month over Month (MoM):

    More Detailed Analysis and Commentary

    Home Sales (Sold)
    In August 2021, 89 homes sold in New Tampa, down 8.3% from August of 2020 and up 3.5% from July 2021.

    Current Inventory of Homes (For Sale)
    In August 2021, 36 homes were listed for sale, a 62.1% drop from August 2020. August’s current inventory rose 40% compared to July 2021.

    Homes Under Contract (Pending)
    In August 2021, 114 homes were under contract, a decrease of 21.4% from August 2020. August 2021 pended home sales fell 1.7% compared to July 2021.

    The Average Sold Price per Square Footage
    The Average Sold Price per Square Footage is a great indicator for the direction of property values. Since Median Sold Price and Average Sold Price can be impacted by the ‘mix’ of high or low end properties in the market, the Average Sold Price per Square Footage is a more normalized indicator on the direction of property values. The August 2021 Average Sold Price per Square Footage of $186 jumped 30.1% from August 2020. It jumped 5% from July of this year.

    The Days on Market

    The Average Days on Market (DOM) shows how many days the average home is on the market before it sells. An upward trend in DOM indicates a move towards more of a Buyer’s market, a downward trend indicates a move towards more of a Seller’s market. The DOM for August 2021 was 10 days, up 43% from July 2021 and down 77.3% from August 2020.

    The Sold/Original List Price Ratio

    The Sold Price vs. Original List Price reveals the average amount that sellers are agreeing to decrease their original list price. The lower the ratio is below 100%, the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. For August 2021, the Sold Price vs. Original List Price of 101.9% was down 1% from July 2021 and up 4.8% from August 2020.

    The Average For Sale Price is Depreciating*
    The Average For Sale Price in August was $565,026, up 29.8% from August 2020 and 5.7% from July 2021.

    The Average Sold Price is Neutral*
    The Average Sold Price in August was $505,362, up 32.3% from August 2020 and 6.6% from July 2021.

    The Median Sold Price is Appreciating*
    The Median Sold Price in August was $465,000, up 31% from August 2020 and 6.9% from July 2021.

    July 2021 was a Seller’s Market*

    A comparatively lower Months of Inventory benefits sellers while a higher Months of Inventory favors buyers.

    *Buyer’s market: more than 6 months of inventory
    Seller’s market: less than 3 months of inventory
    Neutral market: 3 – 6 months of inventory

    Months of Inventory based on Closed Sales

    The August 2021 Months of Inventory based on Closed Sales of 0.41 months fell 63.9% compared to August 2020 and 40.6% compared to July 2021.

    The Absorption Rate measures what percentage of the current active listings are being absorbed each month.

    *Buyer’s market: 16.67% and below
    Seller’s market: 33.33% and above
    Neutral market: 16.67% – 33.33%

    Absorption Rate based on Closed Sales
    The August 2021 Absorption Rate based on Closed Sales of 2.47 jumped 142.1% compared to August 2020 and 72.7% compared to July 2021.

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    Keller Williams Tampa Properties
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