Hillsborough County (Tampa) Home Sales Q4 2017 – Tampa Market Monday

    Happy New Year!

    The start of the New Year is a great time to look back on the previous year to get perspective for making better decisions this year. So today, I want to review Q4 and Year-to-Date home sales for 2017 compared to 2016. This will help give you an idea of how the Tampa real estate market will play out in 2018.

    Hillsborough County

    In Q4 of 2017, 450 more homes sold compared to the fourth quarter of 2016. In 2016, 4,165 homes sold compared to 4,615 in 2017. That represented a rise of 11%.  For the whole of 2017, 19,951 homes sold, while in the entirety of 2016, 19,238 homes sold. This means total single-family home sales rose 3.7% year over year.

    Housing Inventory, measured by Months Supply of Inventory, plunged 39% — from 4.2 months (December 2016) to 2.6 months (December 2017). The Average Days a Home Stayed on the Market also dropped. In Q4 of 2016, it took 73 days on average to sell a home, but in the fourth quarter of 2017, homes sold  29% faster (52 days) . Based on fourth quarter sales from 2016 (11,006 homes) and 2017 (9,656 homes), the number of homes for sale had dipped 12%, as 1,350 fewer homes were listed for sale.

    The Bottom Line

    The Hillsborough County real estate market outpaced the 2016 housing, as prices and the number of homes sold rose on both a yearly and quarterly basis. This strong showing bodes well for 2018. I expect home sales to keep growing as homebuyers start shopping more urgently after the holiday season. As I’ve said before, the only real speed bump is the lack of inventory. But as the new year begins, more sellers are likely to list. So if you want to get ahead of the competition, act sooner rather than later.

    (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.)

    Now let’s look at some of the most helpful and interesting blog posts, articles, and infographics we’ve run across this week. Enjoy!

    Hillsborough County:

    In 2017, these were some of the biggest hits and misses in Tampa Bay business

    The Tampa Bay Business Journal‘s editorial team gathered some of the people, companies, transactions and other news that impacted the business community this year.

    View the photo gallery here to read about this year’s hits and misses.

    From the Blog:

    Reasons to Resolve to Use a Real Estate Agent in 2018

    Top 4 REAL Reasons We Buy a Home

    We often talk about the financial reasons why buying a home makes sense. But, more often than not, the emotional reasons are the more powerful or compelling reasons.

    No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent or a favorite chair, the emotional reasons why we choose to buy our own homes are typically more important to us than the financial ones.

    1. Owning your home offers stability to start and raise a family

    From the best neighborhoods to the best school districts, even those without children at the time of purchase may have this in the back of their minds as a major reason for choosing the location of the home that they purchase.

    2. There’s no place like home

    Owning your own home offers you not only safety and security, but also a comfortable place that allows you to relax after a long day!

    3. You have more space for you and your family

    Whether your family is expanding, an older family member is moving in, or you need to have a large backyard for your pets, you can take this all into consideration when buying your dream home!

    4. You have control over renovations, updates, and style

    Looking to actually try one of those complicated wall treatments that you saw on Pinterest? Tired of paying an additional pet deposit for your apartment building? Or maybe you want to finally adopt that puppy or kitten you’ve seen online 100 times? Who’s to say that you can’t in your own home?

    Bottom Line

    Whether you are a first-time homebuyer or a move-up buyer who wants to start a new chapter in your life, now is a great time to reflect on the intangible factors that make a house a home.

    Buyers:

    Here’s the No. 1 sign that you can afford to buy a home in 2018

    If you’re aiming to purchase a home in 2018, it’s time to start saving. And then to save some more.

    Between putting money down, keeping up with mortgage payments and repairs and maintaining your emergency fund, you can never have too much stashed away.

    But how much do you need, really, before you’re ready to make a purchase?

    Read More

    Follow this link to search Tampa area homes for sale

     

    Home Improvement 

    The 9 Hottest Interior Design and Decor Trends You’ll See in 2018

    When it comes to home design and decor, we’ll be the first to tell you to stick with what you love, no matter what the pros say. But if you can’t escape that sinking feeling each time you walk through your front door that your decor is looking a little tired, well, don’t despair. We’ve got you covered! We’ve already talked about the design trends you should ditch in the coming year. Now let’s take a look at some of the hot new designs you might want to use for 2018 to give your home a fresh lease on life.

    Read More

    Home Loans

    Mortgage Rates Move Higher

     

    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 New Year!

    Annette Bohannon,
    Team Bohannon, Keller Williams, 813-431-2840
    www.teambohannon.com

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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.

    Have a Fantastic week!

    Annette Bohannon,
    Team Bohannon, Keller Williams, 813-431-2840
    www.teambohannon.com

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    Ranked #1 Realtor in Tampa by U.S. News and World Report.

    Doug, Annette & Dale Bohannon

    Team Bohannon Real Estate Experts

    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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