Two weeks ago, we shared an overview of how the Hillsborough County housing market did in December of 2015. In this issue, we’re going to dig a little deeper. Let’s start by looking at how the statistics compared against December of 2014. Here’s a summary of sold homes. As you see, the market improved across the board.
Also, the number of house for sale has gone done markedly — over 20% compared to a year ago. So there are fewer houses on the market for buyers to choose from, which means competition is fierce for the homes available. In other words, if you’re thinking about selling your home, the time is right. Generally, buyer competition means higher prices and faster sell times. (See “Days on the Market” for a detailed breakdown.)
Now many times when you see housing sales numbers they are lumped together and averaged out, but the table below will give you an in-depth look at how many homes are available in your buying or selling price range. Also, you can determine average selling prices for the type of home you want or want to sell. For example, what’s the average price for a 3 bedroom single family home (SFH) versus a 3 bedroom condo.
Next week we will provide a detailed breakdown of Pasco County real estate, but before you move on, take a few minutes to review some articles we ran across this week. They will give you a good feel for the housing market, as well as provide tips on buying or selling a home.
As always, feel free to reach out to us anytime (813) 979-4963) or by sending us an email to talk about the specifics of your situation, price range, or neighborhood. You can also search all Tampa homes for sale here. Or discover what your home is worth here.
Advice for Sellers
If you’re trying to sell your home, you’ve probably scrutinized it, staged it, and scrubbed it down from floorboards to rooftop as if the folks from Architectural Digest were stopping by for a cover shoot. OK, so it’s in immaculate shape—but your home isn’t the only thing under scrutiny here. You are, too! That’s right: No matter how nice your home is, your behavior can also affect how buyers feel about making an offer.
These days, home staging is all the rage: On average, staged homes sell 88% faster and for a whopping 20% more than ones where home sellers just kept their furnishings in place. And while you can hire a professional stager, you can also cop a few of their tricks for free.
Advice for Buyers
You are ready to purchase a home. You have done your homework and mapped out your affordable price range, saved sufficient down payment money, found a suitable lender, and have looked at some of the available homes. You’ve checked out the neighborhood (as well as a few neighbors) and found homes in areas that you find appealing. Have you given thought to how your choice of neighborhood can affect the lasting value of your home?
Assuming that you have evaluated the aesthetics of the neighborhood and found a home that appeals to you, here are a few tips to see if the value of that home is likely to hold.
Fasten your seat belts and ready the MasterCard. The Tampa Bay area is poised for a serious avalanche of notable new restaurants this spring. Already 2016 is heating up with fresh concepts that bring novelty to area tables (in St. Petersburg, the Lure on Central Avenue is making grasshopper tacos, and I’m hearing Joli Pizzeria and Market on Roosevelt Boulevard serves pizza pops and has a cannoli bar with toppings). Given the vicissitudes of construction, permitting and staffing, opening dates are as accurate as possible.
Thanks again for your time and let us know if we can do anything to help you with your real estate needs.