Greater Tampa (view a map of the communities) home sales rose in July compared to July a year ago, but declined from June of 2016. The median sold price stood at $205,000 — a 13.9% increase compared to July 2015 and a 6.6% drop from June 2016. Greater Tampa had 3,039 homes sell in July — a 1.9% increase from June 2015 and a 6.2% decline from June 2016.
The median number of days a home stayed on the market increased 6.3% — from 32 in June to 34 in July. Greater Tampa houses still sold 10.5% faster than a year ago. Months of supply which measures how many months of housing inventory remain, ticked down slightly from 2.85 to 2.83 months. Housing inventory is down 8% from last July. So the market continues to favor sellers, as drops in supply mean fewer homes on the market and more competition between buyers.
Here’s a detailed look at the stats:
What It Means
NOW is still a GOOD time to SELL, but the faster you list your property the better position you’ll be in. Home sales and prices are STILL trending up from a year ago, and interest rates are STILL historically low, but as the year wears on that could change.
If you’re ready to sell, contact us and let us focus our expertise, experience and award-winning client services on helping you sell your home quickly and for top dollar. If you’re a buyer, please call us. Our skilled and experienced BUYERS agents will position you to move fast and negotiate smartly in a very competitive SELLERS market.
(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 here’s a quick overview of some of the best and most informative blog posts, articles and infographics we’ve run across this week. Enjoy!
Riverview-based BlueGrace, a 6-year-old transportation logistics company, is using the money to hire 500 to 700 employees in the next few years and will be on the hunt for a new, larger headquarters, possibly in downtown Tampa.
From currently $200 million in revenue, “by 2020 we’d hope to be at $1 billion … with a mix of organic growth and some (acquisitions),” BlueGrace CEO and founder Bobby Harris said in an interview Monday with the Tampa Bay Times.
The Pinellas County Commission on Tuesday was the last local government to approve the proposed ferry that will connect downtown St. Petersburg to downtown Tampa.
But now that Tampa Bay’s four biggest governments have agreed to help fund the six-month ferry program, elected leaders say it’s unlikely that they’ll divert tax dollars to extend the service beyond that time period.
The number of passengers during the 90-minute round trip will determine whether the region can sustain a permanent ferry system between the two cities. The service could start on Nov. 1 with two runs a day — three on Friday — for fares that are expected to be $10 each way.
From the Blog:
Advice for Buyers:
Home purchase sentiment reached an all-time survey high in July, an indication that Americans are feeling more upbeat about the housing market, according to Fannie Mae.
Overall sentiment rose 3.3 points to a reading of 86.5. Each of the index’s six components– including selling outlook and personal finances – also rose last month.
The share of consumers who said they would buy if they were going to move climbed to 67 percent, while the share of consumers who said they would rent dropped to 26 percent, an all-time survey low.
Forty-one percent of consumers expect home prices to rise over the next 12 months, an increase of 8 percentage points from June. Household income rebounded in July as well, rising 3 percentage points to 11 percent.
Dear Real Estate Adviser,
I submitted our best and final offer on a house that got multiple bids and never heard back, so I just assumed we lost. Several weeks down the road, the house pops up “Sold” for a lower price than our offer. Can this be done here in California? Do you think this was a slip-up or did the agent just want it this way? How can I protect myself in future bidding wars? I’m confused and mad.
— Mel C.
Advice for Sellers
- A focus group and survey together gathered information on the preferences of baby boomer buyers.
- The results showed that 55-plus homebuyers value amenities, community, flexibility, design — and locations that put them close to all the action.
- Although tradition says that many boomers are looking to downsize, the largest percentage of those surveyed indicated their preference for a mid-sized house.
A surprisingly strong July jobs report showed 255,000 jobs added and 0.3 percent wage growth from last month, exceeding many experts’ expectations. In response, the 10-Year Treasury yield rose to its highest level since June and the 30-year fixed-rate mortgage increased 2 basis points to 3.45 percent.
- 30-year fixed-rate mortgage (FRM) averaged 3.45 percent with an average 0.5 point for the week ending August 11, 2016, up from last week when it averaged 3.43 percent. A year ago at this time, the 30-year FRM averaged 3.94 percent.
- 15-year FRM this week averaged 2.76 percent with an average 0.5 point, up from last week when it averaged 2.74 percent. A year ago at this time, the 15-year FRM averaged 3.17 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.74 percent this week with an average 0.5 point, up from last week when it averaged 2.73 percent. A year ago, the 5-year ARM averaged 2.93 percent.
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 week!
Search for Tampa Homes By Neighborhood
Tampa, a beautiful, modern city located on the Gulf Coast of Florida, is bordered by Old Tampa Bay and Hillsborough Bay, which come together to makeup Tampa Bay. It offers…
View 3546 homes
Apollo Beach is a vibrant waterfront community, located in Hillsborough County in Tampa, FL. It features over 50 miles of interconnected canals that lead to Tampa Bay and the Gulf…
View 325 homes
Land O’ Lakes, located in Pasco County, is north of downtown Tampa. It’s also part of the Tampa-St. Petersburg-Clearwater, Florida MSA. The population of the area is a little over…
View 468 homes
FishHawk, Hillsborough County’s first “green community”, is made up of a variety of smaller communities located in Lithia, Florida. They including Starling at FishHawk, The Preserve, FishHawk Ranch and FishHawk…
View 215 homes
Lutz, which began as a small train depot on the Tampa North Railroad, now has about 20,000 residents. It was named for W. P. Lutz, who brought the railroad to…
View 424 homes
New Tampa, Tampa Bay’s fastest growing community is located in the northern side of Tampa. New Tampa, well-known for its master-planned communities, features upscale residences surrounded by lakes, lush green…
View 361 homes
The Carrollwood area, about 7 miles northwest of Tampa includes two distinct communities — Carrollwood and Carrollwood Village. Both are located in Hillsborough County. Together, they have a population of…
View 266 homes
Odessa, located in Pasco County started as a community of open spaces that residents used for ranches and horse farms. But in more recent years, it has grown considerably due…
View 271 homes
Brandon is an appealing suburb, east of downtown Tampa, Florida. It offers residents a quieter, family-oriented lifestyle just outside of Tampa’s city center. Over 100,000 people call it home and…
View 311 homes
Riverview, Florida, located in Hillsborough County near Tampa has nearly 80,000 residents. The community saw its population increase close to 500 percent from 2000 to 2010 as new development occurred…
View 703 homes
South Tampa, located on the Interbay Peninsula, includes areas of Tampa south of Kennedy Boulevard. Many of Tampa’s most unique and in-demand neighborhoods, Beach Park, Ballast Point, Bayshore Beautiful, Bayshore…
View 1055 homes
Ruskin, located in Hillsborough County, Florida, near Tampa’s South shore has blossomed since the early 2000’s. It’s population, which doubled from 2000 to 2010 now tops 17,000 residents. Background The…
View 297 homes
Valrico, located east of Tampa, is home to more than 35,000 residents. The population has expanded over 400% since 2000, when only 6,500 residents lived there. The median house or…
View 263 homes
Wesley Chapel, in Pasco County, has been one of Tampa Bay’s fastest growing communities during the past 10 years. Currently, there are over 45,000 residents, 16,000 households and 12,000 families…
View 502 homes
Westchase, founded in 1991, is a luxurious planned community located between Tampa and Clearwaterin Hillsborough County. It has around 22,000 residents and is one of the most affluent subdivisions the…
View 154 homes
Are you seeking a one-of-a-kind luxury home? You’ll discover many remarkable million-dollar-plus properties in the Tampa area. Whether you prefer living on the water with spectacular views, a Championship golf…
View 3772 homes
If you love golf, you’ll love the Tampa Bay area’s challenging and picturesque golf courses set in vibrant and beautiful communities on the Gulf Coast. You can enjoy a daily…
View 6222 homes
Living on the waterfront means a variety of things to different people. Some love the all-the-time access to sunshine, the beach and the ocean. For other it’s about a peaceful…
View 13625 homes