This week I want to analyze how Home Sales in the three zip codes of Wesley Chapel compared to each other in 2017. (The charts below are interactive so you can place your cursor on the bars to get detailed information from each of the zip codes and months.)
Total Home Sales
As you see below, 33543 had the most closed sales each month, while 33545 finished second in sales 9 out of 12 months and 33544 had the second most sales in 3 of the 12 months. Homes sales in 33543 totaled 901 for the year. The second most sales took place in 33545 with 508 homes selling followed by 33544 which saw 422 homes close. At the end of 2017, 80 Homes were listed for sale in 33543, while 33545 had 62 for sale and 33544 had 42.
The Median Sale Price* for 33543 ranged from $255,000 (February) to $310,218 (December). The next highest Median Sale Price was found in 33544 where prices fluctuated from a low of $218,500 in January to a high of $305,000 in November. In 33543 Median Sale Price reached a high of $253,643 in December and fell as low as $204,900 in February. Active Listing Price in 33543 topped out at $364,990 in August and September, while 33644 hit is high of $364,950 in February. In December, 33545 reached its highest level at $278,464. In December, 33543 homes were listing for a Median Price of $351,938. Homes in 33544 listed for a Median Price of $325,000 and in 33545 the Median Price was $278,494. This means half the homes listed above that price and half listed below it. (Median Sale Price is the price at which half the homes sold below the value and half above the value.)
By the end of the year, homes in 33543 sold for an average of 97.4% of list price, while they sold for 95% in 33544 and 98% in 33545. Also, the Price Per SQFT in 33543 hit $136, while in both 33544 and 33545 it came in at $123. The Average List Prices Per SQFT were $150 (33543), $135 (33544), $129 (33545).
Supply and Demand
As the year closed out, 33543 had 2.16 Months of Supply, while 33544 had 2.09 and 33545 had 2.33. Homes sold the fastest on average in 33545 (43 days) followed by 33543 (47 days) and 33544 (52 days). As for Median Days on the Market, half the homes in 33545 sold in 14 days or less. In 33543, half the homes sold for 16 days or less and in 33544 half sold for 32 days or less.
(Want a customized evaluation of your home and neighborhood, based on comparable homes that have sold recently? Call Annette Bohannon at 813-431-2840 or go here and get a FREE detailed, market evaluation for your home.)
Now here are some of the most helpful and interesting blog posts, articles, and infographics we’ve seen this week. Enjoy!
From the Blog:
Every winter, families across the country decide if this will be the year that they sell their current houses and move into their dream homes.
Mortgage rates hovered around 4% for all of 2017 which forced many buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW!
At the same time, however, inventory levels of homes for sale have dropped dramatically as compared to this time last year.
Trulia reported that “in Q4 2017, U.S. home inventory decreased by 10.5%. That is the biggest drop we’ve seen since Q2 2013.”
Buying a home can be a daunting task − whether it is your first or fifth time heading to the closing table.
For most of us, it will be the largest investment of our lives. However, there are factors predicted for the upcoming year that will make purchasing a home even more stressful.
According to Redfin’s 2018 projections, inventory will remain low, especially for smaller starter-homes. Additionally, thirty-year mortgage rates are expected to rise between 4.3 and 4.5 percent. Changes to the capital gains tax may also persuade many current homeowners not to sell, putting even more strain on the inventory list. However, there are still deals to be found and your dream home may very well still be out there waiting on you.
When you find it, be sure to avoid these 6 common mistakes that first-time homebuyers often make:
Being a real estate agent involves more than just knowing the combination to the lock box. It means having sales and marketing know-how, the diplomatic skills to close a deal and the ability to represent a client’s interests above all else.
So how do you pick the best real estate agent for you? Here are a few things that agents and real estate experts say must be considered:
Thanks for reading Tampa Market Monday. If you want help buying or selling your home, please get in touch. We have sold over 4,600 homes in the Tampa area and our mission is “to elevate the practice of real estate to an art form — and to deliver a real estate experience that is re-imagined and extraordinary!
Have a Fantastic day!
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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!