Wow! 2017 is off to a great start. You’ll see what I mean when we review January 2017 housing data for the Greater Tampa Real Estate Market. So far prices and sales are way ahead of where they were in 2016. February sales data comes out next week and we will see if the momentum is building, holding steady, or slowing down.
But for now, here’s a quick overview of January 2017
The table above makes it clear that January 2017 outpaced the start of 2016.
Sold Dollar Volume jumped 36.3% compared to January 2016. Average Sold Price (13.5%) and Median Sold Price*(13.6%) also rose double-digits. The Number of Homes Sold climbed 20% as 355 more home sold than in January a year ago. The Ratio of Average Sold Price-to-Original List Price also increased from 94.5% to 95.4% and Average Sales Price Per Square Foot gained 10.9% or $12 per square foot. Homes also sold 20.6% faster than January 2015, as the Average Days a Home Stayed on the Market dropped from 71 to 54 days. Months of Supply decreased 3.7% from 2.71 months to 2.61.
Here is a more detailed look at the trends over the last 12 months.
(Want a customized evaluation of your home and neighborhood, based on comparable homes that have sold recently? Call Annette Bohannon at 813-431-2840 and get a FREE detailed, market evaluation of your home or you can get a Free Market Report by following this link.)
Now let’s review the best and most informative blog posts, articles and infographics we’ve seen this past week. Enjoy!
Most parents are familiar with the public school grading system released by the state every year. Niche, a Pittsburgh-based data company, goes beyond the scores when evaluating schools.
In addition to the usual metrics based on test scores, the ranking takes into account student and parent assessments, student life data, teacher ratings and various ratings of a school’s culture and diversity.
Niche released its 2017 ratings of public elementary schools.
Nearly 40 occupations in the Tampa-St. Petersburg-Clearwater metropolitan statistical area draw an annual average wage of $100,000 or more.
That’s double the annual average wage of $44,510 in the metro area, according to 2015 data from the U.S. Bureau of Labor Statistics.
From the Blog:
So, you’ve decided to sell your house. You’ve hired a real estate professional to help you with the entire process, and they have asked you what level of access you want to provide to potential buyers.
There are four elements to a quality listing. At the top of the list is Access, followed by Condition, Financing, and Price. There are many levels of access that you can provide to your agent so that he or she can show your home.
Advice for Buyers:
Once a buyer settles on a home, they often show their commitment with an earnest-money deposit. But if they’re not careful, they could lose thousands of dollars.
Realtor.com® recently featured some of the biggest mistakes home buyers most often make with earnest-money deposits, including:
Advice for Sellers
When it’s time to sell your home, you can invest a ton of time, energy and money into getting the place ready for sale. You might declutter, stage and even remodel the house to make it as appealing to buyers as possible.
Sometimes, though, no amount of preparation can overcome something in the home that, rightly or wrongly, offends some buyers and gives them negative impressions of you and your house.
In a short week following Presidents Day, the 10-year Treasury yield fell about 8 basis points. However, the 30-year mortgage rate rose 1 basis point to 4.16 percent. This week’s survey once again displays the disconnect between mortgage rates and Treasury yields, a result of continued uncertainty.
- 30-year fixed-rate mortgage (FRM) averaged 4.16 percent with an average 0.5 point for the week ending Feb. 23, 2017, up from last week when it averaged 4.15 percent. A year ago at this time, the 30-year FRM averaged 3.62 percent.
- 15-year FRM this week averaged 3.37 percent with an average 0.5 point, up from last week when it averaged 3.35 percent. A year ago at this time, the 15-year FRM averaged 2.93 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.16 percent this week with an average 0.4 point, down from last week when it averaged 3.18 percent. A year ago, the 5-year ARM averaged 2.79 percent.
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.
Thanks for reading Tampa Market Monday. If you are ready to buy or sell a home, let us know! We’d love to put our expertise, enthusiasm, and local knowledge of the Greater Tampa real estate market to work for you. You can reach me, Doug Bohannon or Dale Bohannon at 813-979-4963 or by completing this contact form.
Have a Fantastic week!
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