Skip To Content
  • Home
  • New Tampa
  • New Tampa Home Sales October 2016 – Tampa Market Monday

New Tampa Home Sales October 2016 – Tampa Market Monday



Happy Monday!

The New Tampa real estate market improved substantially in  October of 2016 compared to the same period last year. Sold Dollar Volume (+16.52%), Average Sold Price (+18.97%), and Median Sold Price (+17.02%) climbed double digits, even though The Number of Units sold ticked down from 97 homes to 95 homes.

The Average Number of Days a Home Stayed on the Market (80 days) increased 5.26% compared to October 2015.  Months of Supply which measures how many months of housing inventory remain based on current sales trends stood at 2.73 months, down 1.3% from October of last year. Inventory continued to decline as only 300 Active Listings were on the market compared to 315 in October 2015.


Here’s a more detailed look at the data over the last 12 months: (To see percentage of increase or decrease from pervious year, simply place your cursor on the bar.)

What it Means

Home sales typically drop some during the fall, but if you compare October of 2015 to October 2016, you’ll see that prices have gone up and the number of homes sold has stayed steady. This is likely the result of lower inventory, which means fewer homeowners are listing their homes for sale. But that could change in the next few months, due to the concern that interest rates will keep climbing. This has created an urgency in many buyers who want to buy now, rather than wait for the busier real estate seasons like Spring and Summer. They fear rates will be significantly higher at that point.

If you’re ready to list your home, this could be an usually strong winter so contact us and let us focus our expertise, experience and award-winning client services on helping you take advantage of it. If you’re a buyer, don’t wait because higher rates can eat away at your bying power, causing you to get less for your money.  Let our skilled and experienced BUYERS agents help you find the home of your dreams while rates are still relatively low.

(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!


Tampa native, original Gerber baby turns 90-years-old today

Ann Taylor Cook — the real, honest-to-goodness Gerber baby — turns 90-years-old today.

Ann Turner Cook is originally from Tampa Bay and spent her lifetime teaching English and becoming an Amercian Mystery Novelist.

But Cook will no doubt always be best known for her picture on the Gerber labels.

Cook was about 4 months old in 1927 when family friend Dorothy Hope Smith sketched the image in charcoal. Using a neighbor’s baby as a model wasn’t so unusual in the artist enclave of Westport, Conn., and nobody thought much about it. Least of all Cook’s dad, who for 27 years wrote and drew “Wash Tubbs and Captain Easy,” a daily comic strip that ran in 500 newspapers.

The next year, Gerber put out the call for images that could be used in ads for its new baby food products, and Smith submitted the drawing.

Read More

IFLY Tampa indoor skydiving center opening this week in Brandon

IFLY Tampa, the first “indoor skydiving” center in Tampa Bay, will open for business Tuesday in Brandon.

IFLY, which operates more than two dozen such centers across the U.S., announced that its new location at 10654 Palm River Road, next to Topgolf Tampa, will welcome its first customers beginning at 10 a.m.

The facility features a vertical wind tunnel that’s 14 feet across and powered by four electric fans that generate enough force to let participants float on a cushion of air.

Read More

From the Blog:

Existing Home Sales Surge Forward Through Fall [INFOGRAPHIC]


Read More


Why Are Mortgage Interest Rates Increasing?


Read More


Advice for Buyers:

Mortgage applications up 5.5%, as fear of rising rates triggers homebuying surge

A postelection spike in mortgage rates may have scared potential homebuyers enough to push them off the fence and into a contract before rates move even higher.

A rush on home-purchase mortgages fueled application totals to a 5.5 percent gain on a seasonally adjusted basis last week versus the previous week, according to the Mortgage Bankers Association. Volume was nearly 10 percent higher than the same week one year ago.

Homebuyers were entirely behind the increase, with applications to purchase a home jumping 19 percent on the week, seasonally adjusted. Purchase volume had been weak prior to the election, even though mortgage rates were near historic lows. It is now 11 percent higher than a year ago.

Read More

Search Tampa Homes for Sale

Advice for Sellers

Home Prices Dip as Buyers and Sellers Head Into the Holidays

“The good news is that the tightening labor market is beginning to push up wages and the economy has lately shown signs of greater expansion,” NAR’s Chief Economist Lawrence Yun said in a statement. “These two factors and low mortgage rates have kept buyer interest at an elevated level so far.”

“Buyers are having more success lately despite low inventory [of homes on the market] and prices that continue to swiftly rise above incomes,” he said.

By far, the most existing home sales were in the South at about 179,000. But that was down 7.7% from September and roughly the same as October of last year, according to the report.

Median prices below the Mason-Dixon Line fell 1.7% from September, but were up 7.4% annually.

Read More


  1. Screen Shot 2016-03-07 at 10.03.47 AM
  2. Screen Shot 2016-03-07 at 10.04.00 AM

Home Loans

Mortgage Rates Move Higher Headed into Holiday Weekend

In a short week leading up to the Thanksgiving holiday, the 10-year Treasury yield rose 8 basis points. The 30-year mortgage rate followed suit, rising 9 basis points to 4.03 percent.  This increase marks the first week since 2015 that mortgage rates have risen above 4 percent.

  • 30-year fixed-rate mortgage (FRM) averaged 4.03 percent with an average 0.5 point for the week ending November 24, 2016, up from last week when it averaged 3.94 percent. A year ago at this time, the 30-year FRM averaged 3.95 percent.
  • 15-year FRM this week averaged 3.25 percent with an average 0.5 point, up from last week when it averaged 3.14 percent. A year ago at this time, the 15-year FRM averaged 3.18 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.12 percent this week with an average 0.4 point, up from last week when it averaged 3.07 percent. A year ago, the 5-year ARM averaged 3.01 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.

PMMS Graph
Click to enlarge

Read More

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!

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

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

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

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

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

Carrollwood Area

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

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

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

Luxury 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

Golf Course Communities

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

Waterfront Properties

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

Trackback from your site.

Leave a Reply


About our blog

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

Contact Us Now