Skip To Content

    Wesley Chapel Home Sales as of April 6, 2020 – Tampa Market Monday

    Happy Monday, April 6, 2020

    In March 2020, the Wesley Chapel single-family housing market favored sellers.

    Homes For Sale fell 36.7% from March 2019 and 3.7% from February 2020. Homes Sold climbed 7.5% year over year and 14.3% month over month. Homes Under Contract rose 4.2% compared to February 2020 and dropped 4.5% compared to March 2019.

    The Months of Inventory based on Closed Sales was 1.8, down 42.4% from March of last year.

    The Average Sold Price per Square Footage ticked up 0.8% compared to February 2020 and 4.8% compared to last March. The Median Sold Price increased 1.8% from February of this year. The Average Sold Price jumped 7% during the same time period.

    The Average Days on Market rose 2.6% compared to March 2019. The ratio of Sold Price vs. Original List Price of 97% increased 1% compared to March of last year.

    Home Sales (Sold)
    In March 2020, 144 single-family homes sold in Wesley Chapel. That was a 7.5% rise from 134 in March 2019 and 14.3% increase from the 126 sales in February 2020.

    Current Inventory of Homes (For Sale)
    In March 2020, 151 single-family homes were listed for sale, 36.7% fewer than in March 2019. Current inventory declined 3.7% compared to February 2020.

    Homes Under Contract (Pending)
    In March 2020, 148 single-family homes were under contract, an increase of 4.2% from February 2020. That was 4.5% lower than in March 2019.

    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 March 2020 Average Sold Price per Square Footage of $132 rose 0.8% from $131 in February 2020 and 4.8% from $126 in March 2020.

    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 March 2020 of 78 days decreased 3.7% from 81 days in February of this year. It climbed 2.6% from 76 days in March 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. March’s Sold Price vs. Original List Price of 97% ticked up 1% from February 2020 and March 2019.


    The Average For Sale Price is Appreciating
    The Average For Sale Price in March was $374,000, up 5.4% from $355,000 in March 2019 and down 1.8% from $381,000 in February 2020.

    The Average Sold Price is Depreciating
    The Average Sold Price in March was $320,000, up 7.4% from $298,000 in March 2019 and 7% from $299,000 in February of this year.

    The Median Sold Price is Neutral
    The Median Sold Price in March was $286,000, up 2.5% from $279,000 in March of 2019 1.8% from $281,000 in February 2020.

    March 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 March 2020 Months of Inventory based on Closed Sales of 1.8 months dropped 42.4% compared to March 2019 and 14% compared to February 2020.

    The 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 March 2020 Absorption Rate based on Closed Sales of 55.4 leaped 69.9% compared to March 2019 and 18.6% compared to February 2019.

    From the Blog:


    Some Highlights

    • Expert insights are painting a bright future for housing when the economy bounces back – and it will.
    • We may be facing challenging economic times today, but the housing market is poised to help the economy recover, not drag it down.
    • Let’s connect to make sure you’re informed and ready when it’s time to make your move.


    The #1 Thing You Can Do Now to Position Yourself to Buy a Home This Year

    The last few weeks and months have caused a major health crisis throughout the world, leading to a pause in the U.S. economy as businesses and consumers work to slow the spread of the coronavirus. The rapid spread of the virus has been compared to prior pandemics and outbreaks not seen in many years. It also has consumers remembering the economic slowdown of 2008 that was caused by a housing crash. This economic slowdown, however, is very different from 2008.

    One thing the experts are saying is that while we’ll see a swift decline in economic activity in the second quarter, we’ll begin a sharp rebound in the second half of this year. According to John Burns Consulting:

    “Historical analysis showed us that pandemics are usually V-shaped (sharp recessions that recover quickly enough to provide little damage to home prices), and some very cutting-edge search engine analysis by our Information Management team showed the current slowdown is playing out similarly thus far.” 

    Given this situation, if you’re thinking about buying a home this year, the best thing you can do right now is use this time to get pre-approved for a mortgage, which you can do from the comfort of your home. Pre-approval will help you better understand how much you can afford so that you can confidently do the following two things when you’re ready to buy:

    1. Gain a Competitive Advantage

    Today’s low inventory, like we’ve seen recently and will continue to see, means homebuyers need every advantage they can get to make a strong offer and close the deal. Being pre-approved shows the sellers you’re serious about buying a home, which is always a plus in your corner.

    2. Accelerate the Homebuying Process

    Pre-approval can also speed-up the homebuying process so you can move faster when you’re ready to make an offer. Being ready to put your best foot forward when the time comes may be the leg-up you need to cross the finish line first and land the home of your dreams.

    Bottom Line

    Pre-approval is the best thing you can do right now to be in a stronger position to buy a home when you’re ready. Let’s connect today to get the process started.

    Click the graphic above to visit

    Home Loans

    Mortgage Rates Drop Again

    April 2, 2020

    Mortgage rates have drifted down for two weeks in a row and that drop reflects improvements in market liquidity and sentiment. While the market has stabilized relative to prior weeks, homebuyer demand has declined in response to current economic conditions. The good news is that the pending economic stimulus is on the way and will provide support for both consumers and businesses.

    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

    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

    Any questions, comments, or feedback