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Hillsborough County (Tampa) Home Sales as of January 20, 2020 – Tampa Market Monday

Happy Monday, January 20, 2019

The single-family housing market in Hillsborough County favored sellers in December 2019.

Homes for Sale fell 20.5% from December 2018 and 8.8% from November 2019. Home Sold climbed 21.9% year over year and 0.4% month over month. Homes Under Contract declined 9.2% compared to November 2019 but jumped 29.2% compared to December 2018. The Months of Inventory based on Closed Sales of 2.1 months dropped 34% from the December 2018.

The Average Sold Price per Square Footage increased 4.7% compared to November 2019 and 6.8% compared to December 2018. The Median Sold Price rose 2% from November 2019. The Average Sold Price climbed 2.2% from during the same time period.

The Average Days on Market jumped 5.4% compared to December 2018. The ratio of Sold Price vs. Original List Price of 95% stayed the same as December 2018.

Home Sales (Sold)

In December 2019, 1691 single-family homes sold in Hillsborough County. That was 21.9% more than the 1387 sold in December of 2018. It was 0.4% more than the 1684 sales in November 2019.

Current Inventory of Homes (For Sale)

In December 2019, 919 fewer single-family homes were listed for sale than in December 2018, an decrease of 20.5%. The current inventory of single-family homes fell 8.8% compared to November 2019.

Homes Under Contract (Pending)

In December 2019, single-family homes under contract dropped 9.2% compared to November 2019, as 1422 homes were for sale versus 1566. Single-family homes jumped 29.2% compared to December 2018.

The Average Sold Price per Square Foot shows the direction of home prices. 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 December 2019 Average Sold Price per Square Footage of $157 rose 4.7% from $150 in November 2019 and 6.8% from $147 in December 2018.

The Days The Average Days on Market Shows Upward Trend

The average Days on Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM trends to indicate 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 December 2019 of 59 days climbed 3.5% from 57 days in November 2019 5.4% from 56 days in December 2018.

The Sold/Original List Price Remains Steady

The Sold Price vs. Original List Price reveals the average amount that sellers are agreeing to come down from 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. December’s Sold Price vs. Original List Price of 95% declined 1% from November 2019 but stayed flat compared to December 2018.


The Average For Sale Price is Neutral

The Average For Sale Price in December was $475,000, up 15% from $413,000 in December 2018 and 0.2% from $474,000 in November 2019.

The Average Sold Price is Neutral

The Average Sold Price in December was $325,000, up 6.9% from $304,000 in December 2018 and 2.2% from $318,000 in November 2019.

The Median Sold Price is Neutral

The Median Sold Price in December was $260,000, up 4.8% from $248,000 in December 2018 and 2% from $255,000 in November 2019.

December 2019 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 December 2019 Months of Inventory based on Closed Sales of 2.1 months dropped 34% compared to December 2018 and 8.6% compared to November 2019.

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 December 2019 Absorption Rate based on Closed Sales of 47.4 jumped 53.3% compared to December 2018 and 10% compared to November 2019.

Real Estate News:

2020 Begins With Lowest Housing Inventory in Two Years

Price growth is accelerating faster than national average in markets with the largest inventory declines
– Inventory across the U.S. declined by 12 percent year-over-year in December
– The December U.S. median listing price was $299,950, up 3 percent year-over-year
– Nationally, homes sold in 79 days in December, two days more quickly than last year

SANTA CLARA, Calif.Jan. 7, 2020 /PRNewswire/ — December saw the largest year-over-year decline of housing inventory in almost three years with a dramatic 12 percent decline, pushing the number of homes for sale in the U.S. to the lowest level since January 2018 according to the December 2019 Housing Trends report released today by®.

Based on®‘s analysis, the inventory decline is accelerating across all price levels, including the luxury market. In December, inventory of homes priced under $200,000 declined by 18.1 percent year-over-year, higher than the 16.5 percent drop in November. Mid-tier housing priced between $200,000 and $750,000 also declined at an accelerated pace, up 10.2 percent year-over-year compared to November’s decline of 7.4 percent. Listings of homes priced over $1 million shrunk by 4.4 percent year-over-year, up from from nearly 2 percent in November.

“The market is struggling with a large housing undersupply just as 4.8 million millennials are reaching 30-years of age in 2020, a prime age for many to purchase their first home,” according to Senior Economist, George Ratiu. “The significant inventory drop we saw in December is a harbinger of the continuing imbalance expected to plague this year’s markets, as the number of homes for sale are poised to reach historically low levels.”

The inventory shortage gripping the U.S. housing market is showing no signs of slowing anytime soon. December’s 12 percent year-over-year inventory decline is an acceleration from November’s drop of 9.5 percent, and equates to a loss of nearly 155,000 listings compared to December 2018. Additionally, new listings are failing to restore the market to equilibrium as the volume of newly listed properties also declined by 11.2 percent year-over-year.

On a local level, the tech havens of San JoseSunnyvaleSanta Clara, Calif.SeattleTacomaBellevue, Wash; and San FranciscoOaklandHayward, Calif. all saw inventory declines of more than 30 percent in December as well as listing price growth above the national median. Only three of the 50 largest U.S. metros saw inventory increase over the year: San AntonioNew Braunfels, Texas (+8.8 percent); Minneapolis-St. PaulBloomington, Minn.-Wis. (+7.4 percent); and Las VegasHenderson-Paradise, Nev. (+4.8 percent), which all had year-over-year declines in their median listing prices.

Overall, the median U.S. listing price grew by 3 percent, to $299,950 in December, which is a deceleration compared to last month, when the median listing price grew by 3.6 percent over the year. At the same time, price growth is continuing to heat up in metros where inventory declines were greatest in December.

Of the 50 largest U.S. metros, 42 saw year-over-year gains in median listing prices, with 33 of the 50 growing faster than the national rate and 12 of those growing faster than December 2017’s rate of 8.2 percent. Los Angeles-Long BeachAnaheim, Calif. (+21.0 percent); Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md. (+13.1 percent); and BirminghamHoover, Ala. (+11.1 percent); posted the highest year-over-year median list price growth in December. All three markets also saw double-digit declines in their housing inventories. The steepest price declines were seen in Louisville/Jefferson County, Ky.-Ind. (-5.0 percent); Minneapolis-St. PaulBloomington, Minn.-Wis. (-4.1 percent); and Houston-The Woodlands-Sugarland, Texas (-2.9 percent).

In December, 13.2 percent of active listings saw their listing prices reduced, virtually unchanged from a year ago. Among the nation’s 50 largest metros, 15 saw an increase in their share of price reductions compared to this time last year. PortlandVancouverHillsboro, Ore.-Wash. saw the greatest increase in the share of price reductions in November, up 14.7 percent year-over-year. It was followed by IndianapolisCarmelAnderson, Ind. (+3.1 percent) and Houston-The Woodlands-Sugarland, Texas (+2.6 percent).

Nationally, homes sold in 79 days in December 2019, two days more quickly than December 2018. However, in the 50 largest U.S. metros, the typical home sold at a nearly identical pace. Raleigh, N.C.Oklahoma City, Okla.; and Rochester, N.Y.; saw the largest decreases in days on market with properties spending 13, 11, and 8 fewer days on the market than last year, respectively. Meanwhile, properties in Los Angeles-Long BeachAnaheim, Calif.BuffaloCheektowagaNiagara Falls, N.Y.; and BostonCambridgeNewton, Mass.-N.H.; sold 22, 10, and 9 days more slowly, respectively.





Days on

Days on

San Jose-Sunnyvale-Santa Clara, Calif.






Seattle-Tacoma-Bellevue, Wash.






San Francisco-Oakland-Hayward, Calif.






Sacramento–Roseville–Arden-Arcade, Calif.






Phoenix-Mesa-Scottsdale, Ariz.






San Diego-Carlsbad, Calif.






Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md.






Virginia Beach-Norfolk-Newport News, Va.-N.C.






Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.V.






Providence-Warwick, R.I.-Mass.






Cincinnati, Ohio-Ky.-Ind.






Riverside-San Bernardino-Ontario, Calif.






Rochester, N.Y.






Oklahoma City, Okla.






Portland-Vancouver-Hillsboro, Ore.-Wash.






Hartford-West Hartford-East Hartford, Conn.






Boston-Cambridge-Newton, Mass.-N.H.






Charlotte-Concord-Gastonia, N.C.-S.C.






Baltimore-Columbia-Towson, Md.






Los Angeles-Long Beach-Anaheim, Calif.






Buffalo-Cheektowaga-Niagara Falls, N.Y.






Nashville-Davidson–Murfreesboro–Franklin, Tenn.






Tampa-St. Petersburg-Clearwater, Fla.






Memphis, Tenn.-Miss.-Ark.






Birmingham-Hoover, Ala.






Pittsburgh, Pa.






Austin-Round Rock, Texas






Orlando-Kissimmee-Sanford, Fla.






Kansas City, Mo.-Kan.






St. Louis, Mo.-Ill.






Milwaukee-Waukesha-West Allis, Wis.






New Orleans-Metairie, La.






Indianapolis-Carmel-Anderson, Ind.






Columbus, Ohio






Richmond, Va.






Louisville/Jefferson County, Ky.-Ind.






Miami-Fort Lauderdale-West Palm Beach, Fla.






Jacksonville, Fla.






Cleveland-Elyria, Ohio






Raleigh, N.C.






New York-Newark-Jersey City, N.Y.-N.J.-Pa.






Dallas-Fort Worth-Arlington, Texas






Atlanta-Sandy Springs-Roswell, Ga.






Chicago-Naperville-Elgin, Ill.-Ind.-Wis.






Detroit-Warren-Dearborn, Mich.






Houston-The Woodlands-Sugar Land, Texas






Denver-Aurora-Lakewood, Colo.






Las Vegas-Henderson-Paradise, Nev.






Minneapolis-St. Paul-Bloomington, Minn.-Wis.






San Antonio-New Braunfels, Texas






From Our Blog:

Housing Inventory Vanishing: What Is the Impact on You?

The real estate market is expected to do very well this year as mortgage rates remain at historic lows. One challenge to the housing industry is the lack of homes available for sale. Last week, released a report showing that 2020 is beginning with the lowest available housing inventory in two years. The report explains:

“Last month saw the largest year-over-year decline of housing inventory in almost three years with a dramatic 12 percent decline, pushing the number of homes for sale in the U.S. to the lowest level since January 2018.”

The report also revealed that the decline in inventory stretches across all price points, as shown in the following graph:Housing Inventory Vanishing: What Is the Impact on You? | Simplifying The MarketGeorge Ratiu, Senior Economist at, explains how this drop in available homes for sale comes at a time when more buyers are expected to enter the market:

“The market is struggling with a large housing undersupply just as 4.8 million millennials are reaching 30-years of age in 2020, a prime age for many to purchase their first home. The significant inventory drop…is a harbinger of the continuing imbalance expected to plague this year’s markets, as the number of homes for sale are poised to reach historically low levels.”

The question is: What does this mean to you?

If You’re a Buyer…

Be patient during your home search. It may take time to find a home you love. Once you do, however, be ready to move forward quickly. Get pre-approved for a mortgage, be ready to make a competitive offer from the start, and understand that a shortage in inventory could lead to the resurgence of bidding wars. Calculate just how far you’re willing to go to secure a home, if you truly love it.

If You’re a Seller…

Realize that, in some ways, you’re in the driver’s seat. When there is a shortage of an item at the same time there is a strong demand for that item, the seller of that item is in a good position to negotiate. Whether it is price, moving date, possible repairs, or anything else, you’ll be able to demand more from a potential purchaser at a time like this – especially if you have multiple interested buyers. Don’t be unreasonable, but understand you probably have the upper hand.

Bottom Line

The housing market will remain strong throughout 2020. Understand what that means to you, whether you’re buying, selling, or doing both.

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Make the Dream of Homeownership a Reality in 2020

In 1963, Martin Luther King, Jr. led and inspired a powerful movement with his famous “I Have a Dream” speech. Through his passion and determination, he sparked interest, ambition, and courage in his audience. Today, reflecting on his message encourages many of us to think about our own dreams, goals, beliefs, and aspirations. For many Americans, one of those common goals is owning a home: a piece of land, a roof over our heads, and a place where our families can grow and flourish.

If you’re dreaming of buying a home this year, the best way to start the process is to connect with a Real Estate professional to understand what goes into buying a home. Once you have that covered, then you can answer the questions below to make the best decision for you and your family.

1. How Can I Better Understand the Process, and How Much Can I Afford?

The process of buying a home is not one to enter into lightly. You need to decide on key things like how long you plan on living in an area, school districts you prefer, what kind of commute works for you, and how much you can afford to spend.

Keep in mind, before you start the process to purchase a home, you’ll also need to apply for a mortgage. Lenders will evaluate several factors connected to your financial track record, one of which is your credit history. They’ll want to see how well you’ve been able to minimize past debts, so make sure you’ve been paying your student loans, credit cards, and car loans on time. Most agents have loan officers they trust that they can refer you to.

According to,

Financial planners recommend limiting the amount you spend on housing to 25 percent of your monthly budget.”

2. How Much Do I Need for a Down Payment?

In addition to knowing how much you can afford on a monthly mortgage payment, understanding how much you’ll need for a down payment is another critical step. Thankfully, there are many different options and resources in the market to potentially reduce the amount you may think you need to put down up front.

If you’re concerned about saving for a down payment, start small and be consistent. A little bit each month goes a long way. Jumpstart your savings by automatically adding a portion of your monthly paycheck into a separate savings account or house fund. says,

“Over time, these automatic deposits add up. For example, $50 a month accumulates to $600 a year and $3,000 after five years, plus interest that has compounded.”

Before you know it, you’ll have enough for a down payment if you’re disciplined and thoughtful about your process.

3. Saving Takes Time: Practice Living on a Budget

As tempting as it is to settle in each morning with a fancy cup of coffee from your favorite local shop, putting that daily spend toward your down payment will help accelerate your path to homeownership. It’s the little things that count, so start trying to live on a slightly tighter budget if you aren’t doing so already. A budget will allow you to save more for your down payment and help you pay down other debts to improve your credit score. A survey of Millennial spending shows,

“70 percent of would-be first-time homebuyers will cut spending on spa days, shopping and going to the movies in exchange for purchasing a home within the next year.”

While you don’t need to cut all of the fun out of your current lifestyle, making smarter choices and limiting your spending in areas where you can slim down will make a big difference.

Bottom Line

If homeownership is on your dream list this year, take a good look at what you can prioritize to help you get there. Let’s get together today to discuss the best steps you can take to start the process.

Home Loans

Mortgage Rates Generally Hold Steady

January 16, 2020

Mortgage rates inched up by one basis point this week with the 30-year fixed-rate mortgage averaging 3.65 percent. By all accounts, mortgage rates remain low and, along with a strong job market, are fueling the consumer-driven economy by boosting purchasing power, which will certainly support housing market activity in the coming months. While the outlook for the housing market is positive, worsening homeowner and rental affordability due to the lack of housing supply continue to be hurdles, and they are spreading to many interior markets that have traditionally been affordable.



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!

Annette Bohannon,
Team Bohannon, Keller Williams, 813-431-2840

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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

Have a Fantastic week!

Annette Bohannon,
Team Bohannon, Keller Williams, 813-431-2840

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Keller Williams Tampa Properties
Tampa, Florida

(813) 979-4963

If you're looking for a trusted partner who exceeds expectations, reduces stress, fulfills promises, and is on top of all the details, consider Tampa's Top Real Estate Team: Doug, Annette and Dale Bohannon when buying or selling your home, call us today at 813-979-4963

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