Happy Monday, October 25, 2021!
The Greater Tampa Single-Family Housing Market Favored Sellers in September 2021.
Summary of Key Stats Year over Year (YoY) and Month over Month (MoM):
More Detailed Analysis and Commentary
Home Sales (Sold)
In September 2021, single-family home sales fell to 2,830 a 1.6% decrease from September of 2020. That was 70 fewer homes than sold in August 2021.
Current Inventory (For Sale)
Versus September 2020, the total number of single-family homes available fell 30.3% to 2366 units. September housing inventory rose 121 units compared to August 2021.
In September 2021, 2996 new single-family listings came on the market, 1% more than the number of new listings in September of 2020. That was 60 fewer new listings than in August 2021.
Median Sold Price
The Median Sold Price in September was $347,000, up 23.9% from September 2020. It dropped $1052 from August 2021.
Median List Price
The Median List Price in September was $345,000, up 23.2% from September 2020. It ticked up $100 from August 2021.
The Average Sold Price per Square Foot
The Average Sold Price per Square Footage indicates which direction home prices are headed. Median Sold Price and Average Sold Price can sometimes be skewed by outliers that sell for a really high or low price. So the Average Sold Price per Square Footage is a more normalized indicator of home values. The September 2021 Average Sold Price per Square Footage of $203 jumped 26.1% from September 2020. It climbed $4 per square foot from August 2021.
September 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 September 2021 Months of Inventory based on Closed Sales of 0.83 fell 37% compared to September 2020. It rose 5% compared to August 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 September 2021 Absorption Rate based on Closed Sales of 1.20 climbed 41.1% compared to September 2020 and dropped 6.9% compared to August 2021.
Thanks for reading Tampa Market Monday. We’d love to help you buy or sell your home, so please get in touch! You can reach me, Doug Bohannon or Dale Bohannon at 813-979-4963 or by completing this contact form.
Have a Fantastic Day!
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Thanks for taking time to read the Tampa Market Monthly! If you want to buy or sell a home or find out your home’s value please let us know. We’d love to work with you. You can reach me, Doug Bohannon or Dale Bohannon at 813-979-4963 or by completing this contact form. You can search all Tampa area homes for sale at www.teambohannon.com.