New Tampa Home Sales as of September 9, 2019 – Tampa Market Monday

    Happy Monday, September 9, 2019

    In August 2019, the New Tampa (33647) housing market favored sellers.

    Homes for Sale rose 0.4% from August 2018 but fell 3.2% from July 2019. Homes Sold dropped 2% from August a year ago, as well as July of this year. Homes Under Contract declined 15.8% compared to July 2019 and 13.3% compared to August 2018.

    The Months of Inventory came in at 2.4 months, up 4.3% from the previous August.

    The Average Sold Price per Square Footage climbed 2.3% compared to July of this year and 8% compared to August of last year. The Median Sold Price decreased 1.1% from July. The Average Sold Price fell 1.6% from the same time period.

    In August 2019, the Average Days on Market dropped 11.7% compared to August 2018 . The ratio of Sold Price vs. Original List Price was 96%, an 1.1% increase from August of last year.

    Home Sales (Sold)
    In August 2019, 100 single-family homes sold in New Tampa, a decline of 2% from August 2018 and July 2019.

    Current Inventory of Homes (For Sale)
    In August 2019, one more home was for sale compared to August 2018, a 0.4% rise.   Current inventory fell 3.2% compared to July 2019.

    Homes Under Contract (Pending)
    Homes under contract decreased 15.8% in August 2019, as 85 homes were pending versus 101 in July of this year. This was 13.3% lower than August a year ago.

    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 August 2019 Average Sold Price per Square Footage of$135 climbed 2.3% from $132 in July 2019 and 8% from $125 in August 2018.

    The Days on Market Shows Neutral Trend

    The Average Days on Market (DOM) shows how many days the average home is on the market before it sells. An upward trend in DOM indicates 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 August 2019 of 53 days showed a 1.9% increase from 52 days in July. It dropped 11.7% from 60 days in August of last year.

    The Sold/Original List Price Ratio Remains Steady

    The Sold Price vs. Original List Price reveals the average amount that sellers are agreeing to decrease 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. August 2019’s Sold Price vs. Original List Price of 96% fell 1% from July 2019. It ticked up 1.1% from August 2018.

    The Average For Sale Price is Neutral
    The Average For Sale Price in August was $450,000, the same as in August of 2018 and up 0.2% from $449,000 in July 2019.

    The Average Sold Price is Neutral
    The Average Sold Price in August was $369,000, up 7.9% from $342,000 in August of 2018 and down 1.6% from $375,000 in July 2019.

    The Median Sold Price is Neutral
    The Median Sold Price in August was $356,000, up 7.2% from $332,000 in August of 2018 and down 1.1% from $360,000 in July 2011.

    August 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 August 2019 Months of Inventory of 2.4 months jumped 4.3% compared to last August. It stayed flat compared to July 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 August 2019 Absorption Rate of 41.8 declined 2.6% compared to August 2018. It rose 1.2% compared to July.

    New Tampa:

    Top things to do in Tampa Bay for the week of Sept 9-15

    Lizzo: The red-hot rapper performs at Tampa’s Yuengling Center on Tuesday. She is touring, following the success of her song Juice and album Cuz I Love You, with singer-songwriter Ari Lennox opening. $41.25-$50.75.

    Tampa Bay Lightning Fan Fest: Friday through Sunday is dubbed Lightning Launch Weekend with a series of events, including Family Fun Night at Sparkman Wharf on Friday (6-10 p.m.) and a free public skate at Amalie Arena on Saturday 1-6 p.m. (reserve a slot at TampaBayLightning.com/LightningLaunchWeekend). Sunday at 11 a.m. brings the Lightning Fan Fest at Amalie Arena to get player photos and autographs, buy used game equipment and play in the kids zone. Tickets are free but also have to be claimed on the Launch Weekend website.

    DATE NIGHT

    Music: Country star Chris Young brings along Chris Janson and duo Locash to Tampa’s MidFlorida Amphitheatre on Friday ($30-$79.75). The 18-member Helios Jazz Orchestra backs 40-year veteran vocalist Scotty Wright on Tuesday at St. Petersburg’s Palladium ($25-$35). On Wednesday hip-hop duo The Midnight Hour perform at Palladium ($21-$46; $12 for students). Hardcore act Madtown hosts a release party on Thursday at Ybor City’s Crowbar for the release of their new album True Colors ($10-$12). On Friday, Atlanta-based singer-songwriter Cat Power plays the Ritz Ybor ($31). Singer-songwriter Parker Millsap performs Friday at the Attic in Ybor and Saturday at the Safety Harbor Art and Music Center ($25 and up). Christian crossover pop star Amy Grant plays Clearwater’s Bilheimer Capitol Theatre on Friday ($50-$100). Legendary fiddle player Doug Kershaw plays Skipper’s Smokehouse on Friday alongside Grammy-winning accordionist Jo-El Sonnier and local act the Cadillac Cowboys ($25-$30). Electronic DJ and LGBT activist Nick Monaco performs Friday at the Attic in Ybor ($20). The biggest names in freestyle dance music perform Saturday at USF’s Yuengling Center, including Stevie B, Lisa Lisa, the Original Cover Girls, Expose, Shannon, the JetsJohnny O, Cynthia and Linear featuring Joey Restivo and Connie ($35.50). On Sunday, rock Hall of Famers the BoDeans (Closer to Free) perform at Largo’s Central Park Performing Arts Center ($25 and up).

    Scream-A-Geddon: The monster midway and zombie paintball assault opens Friday for Halloween season in the backroads of Pasco County with multiple scare zones ($21.95-$35.95). 27839 Saint Joe Road, Dade City. screamageddon.com.

    Comedy: Aussie comic and Comedy Central host Jim Jefferies performs Friday at Tampa Theatre ($53-$182.50). Veteran comic Robert Kelly appears at Side Splitters Comedy Club in Tampa Friday-Saturday ($20-$22).

    On Friday, Jim Jefferies, shown here in Comedy Central’s “The Jim Jefferies Show,” will perform at Tampa Theatre. [ALI GOLDSTEIN | Comedy Central]

    DJ Pauly D: The former Jersey Shore star performs a set, followed by a meet and greet and photo session Saturday at the Ritz Ybor ($20, $80 meet and greet).

    Meteor ShowerThe play written by comedian Steve Martin bends time and reality when two couples meet to watch a meteor shower. Runs through Sept. 29 in the Shimberg Playhouse at the Straz Center. $34.50.

    Country MusicThe preview screening of the Ken Burns documentary that traces the history of American country music will be shown at Tampa Theatre at 7:30 p.m. Thursday. Come early for live tunes by the Easy Posse Band (5-7 p.m.). Free.

    KIDS AND FAMILY

    Children’s Board Free Tuesday: Postponed last week by the hurricane, the hands-on museum and the Children’s Board of Hillsborough County offer free admission from noon to 6 p.m. Tuesday at the Glazer Children’s Museum, 110 W Gasparilla Plaza, Tampa.

    MORE TO EXPLORE

    Find date night ideas and things to do with kids at tampabay.com/things-to-do.

     

    From the Blog:

    Home Sales Expected to Continue Increasing In 2020

    Freddie MacFannie Maeand the Mortgage Bankers Association are all projecting home sales will increase nicely in 2020.
    Below is a chart depicting the projections of each entity for 2019, as well as for 2020.Home Sales Expected to Continue Increasing In 2020 | Simplifying The MarketAs we can see, Freddie MacFannie Mae, and the Mortgage Bankers Association all believe homes sales will increase steadily over the next year. If you’re a homeowner who has considered selling your house recently, now may be the best time to put it on the market.

    Click the graphic above to visit www.teambohannon.com

    Home Loans

    Mortgage Rates Drop

    September 5, 2019

    Mortgage rates continued the summer swoon due to weaker economic data. While economic growth is clearly slowing due to rising manufacturing and trade headwinds, economic fundamentals are still solid for U.S. consumers. The unemployment rate is low, housing affordability is improving, homebuyer demand is rising, and home price growth is stable.

    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
    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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