Skip To Content

New Tampa Home Sales October 2018 – Tampa Market Monday

Happy Monday, November 12, 2018

First, I’d like to thank all those who have served or are serving in the military. We’re grateful for the sacrifices you make and have made for us.

Now, let’s take a look at how the New Tampa real estate market fared in October.

For Sale Listings jumped 15.2% in October 2018 compared to October 2017, but fell 7.1% from September 2018. The Number of Homes Sold in New Tampa climbed 18.8% year over year and 8.6% month over month. The Number of Homes Under Contract rose 26.6% compared to last month and 14.1% compared to last October. The Months of Inventory based on Closed Sales hit 3.3 months, a 2.9% decline from October 2017.

The Average Sold Price per Square Foot dropped 5.2% compared to September 2018, but held steady compared to October 2018. The Median Sold Price (the price half the home sold for) decreased 0.9% from last month. The Average Sold Price also ticked down 0.6% from September 2018.

The Average Days on Market showed an upward trend, increasing 16.4% compared to October 2018. The ratio of Sold Price vs. Original List Price came in at 95%, a decrease of 2.1% compared to last October.

Sold Homes
In October 76 single-family homes sold. That was 18.8% more than the 64 sold in September 2018 and 8.6% more than the 70 sales last October.

Current Inventory (For Sale)
In October 15.2% or 33 more homes were for sale than in October of 2018. That was a 7.1% drop from a month ago.

Homes Under Contract (Pending)
The number of homes under contract jumped 26.6% compared to September 2018, as 81 homes were pending versus 64 last month. Homes under contract rose 14.1% from October 2017.

The Average Sold Price per Square Foot is Neutral*

In October 2018 Average Sold Price per Square Foot was $127. This was down 5.2% from $134 last month and the same as October of last year. *

*Based on 6 month trend – Appreciating/Depreciating/Neutral

The 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 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 October 2018 was 64, up 14.3% from 56 days last month and up 16.4% from 55 days in October of last year.

* Based on 6 month trend – Upward/Downward/Neutral

The Sold/Original List Price Ratio Remains Steady

The Sold/Original List Price Ratio is falling based on a 6-month trend. The Sold Price vs. Original List Price reveals the average amount that sellers agree to decrease their original list price. The lower the ratio falls below 100% the more of a Buyer’s market exists, while a ratio at or above 100% indicates more of a Seller’s market. In October 2018, the ratio came in at 95%. This was the same as September and a decline of 2.1% from October 2017.

The Average For Sale Price is Neutral*

The Average For Sale Price in October was $447,000, down 5.9% from $475,000 in October of 2017 and up 1.4% from $441,000 last month.

The Average Sold Price is Neutral*

The Average Sold Price in October was $349,000, up 1.7% from $343,000 in October of 2017 and down 0.6% from $351,000 last month.

The Median Sold Price is Neutral*

The Median Sold Price in October was $326,000, up 1.2% from $322,000 in October of 2017 and down 0.9% from $329,000 last month.

*Based on 6-month trend

It’s a Neutral 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 October 2018 Months of Inventory dropped to 3.3 months or 2.9% lower than last year and 13% lower than  last month.

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 October 2018 Absorption Rate was 30.4, 3.1% higher than a year ago and 16.9% higher than last month.

New Tampa:

Veterans Can Eat Free At These Restaurants On Veterans Day

Restaurants, coffeehouses and eateries across the nation have come up with all kinds of Veterans Day specials — free or discounted meals, drinks and treats — for veterans, retired and active-duty military personnel and, in some cases, first responders to thank them for their service.

Veterans Day is Sunday, Nov. 11, but the holiday is observed on Monday, Nov. 12. Some of the special deals are already in place. In most cases, proof of military service is required

Here are some of the deals:

Read More


From the Blog:

2 Myths Holding Back Home Buyers

Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership: Down Payment, Credit, and Affordability,” which revealed that,

“Consumers often think they need to put more money down to purchase a home than is actually required. In a 2017 survey, 68% of renters cited saving for a down payment as an obstacle to homeownership. Thirty-nine percent of renters believe that more than 20% is needed for a down payment and many renters are unaware of low–down payment programs.”

Myth #1: “I Need a 20% Down Payment”

Buyers often overestimate the down payment funds needed to qualify for a home loan. According to the same report:

“Most potential homebuyers are largely unaware that there are low-down payment and no-down payment assistance programs available at the local, state, and federal levels to help eligible borrowers secure an affordable down payment.”  

These numbers do not differ much between non-owners and homeowners. For example, “30% of homeowners and 39% of renters believe that you need more than 20 percent for a down payment.”

While many believe that they need at least 20% down to buy their dream homes, they do not realize that there are programs available which allow them to put down as little as 3%. Many renters may actually be able to enter the housing market sooner than they ever imagined with programs that have emerged allowing less cash out of pocket.

Myth #2: “I Need a 780 FICO® Score or Higher to Buy”

Similar to the down payment, many either don’t know or are misinformed about what FICO® score is necessary to qualify.

Many Americans believe a ‘good’ credit score is 780 or higher.

To help debunk this myth, let’s take a look at Ellie Mae’s latest Origination Insight Report, which focuses on recently closed (approved) loans.

2 Myths Holding Back Home Buyers | Simplifying The Market

As you can see in the chart above, 51.7% of approved mortgages had a credit score of 600-749.

Bottom Line

Whether buying your first home or moving up to your dream home, knowing your options will make the mortgage process easier. Your dream home may already be within your reach.


Tampa Ranked 21st Best City for Veteran Homebuyers

Read More 

Click the graphic above to visit

Home Loans

Mortgage Rates Hit Seven-Year High

November 8, 2018

The economy continued to show resilience as strong business activity and growth in employment drove the 30-year fixed mortgage rate to a seven year high of 4.94 percent – up 11 basis points from last week.

Higher mortgage rates have led to a slowdown in national home price growth, but the price deceleration has been primarily concentrated in affluent coastal markets such as California and the state of Washington. The more affordable interior markets – which have not yet experienced a slowdown home price growth – may see price growth start to moderate and affordability squeezed if mortgage rates continue to march 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

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 make up 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

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

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