Wesley Chapel Home Sales Q2 2017 – Tampa Market Monday

Happy Monday!

Today I’m going to overview how the Wesley Chapel housing market fared in Quarter 2 (April-June) of this year compared to Q2 of 2016.

Wesley Chapel is comprised in three zip codes and the 33543 area saw the greatest amount of increase, as Sold Dollar Volume outpaced Q2 of 2016 by 34.42 and 22.83% more homes sold. Sold Dollar Volume was up 22% in the 33545 area as the Number Of Homes Sold jumped by 15.08%. The 33544 area lagged behind these two areas but still did better than in Q2 of 2016. Sold Dollar Volume increased by a solid 11.23% and 5.52% more homes changed hands in the second quarter of 2017.

Prices

Median Prices* also moved upwards in all three areas, as 33543 led the way with a 13.19% jump, followed by 33545 at +11.13% and 33544 at +2.59%. The 33543 area had the highest Median Sales Price ($253,500), while 33544 came in at $235,692. The 33545 area had the lowest Median Price of $229,900.

(MEDIAN SOLD PRICE – Median means “in the middle,” meaning that half of the homes sold above the Median Sold Price and half sold below it. For example, if 5 homes sold in a zip code for $200,000, $250,000, $300,000, $400,000 and $800,000, the Median Price would be the one in the middle. In this case, that would be the $300,000 home. In contrast, average selling price would just be the sum of the selling prices of the 5 homes divided by 5, or $330,000. Many real estate statisticians prefer median price as a better indicator of the “typical” price within an area or zip code. Why? “Outliers” or homes sold at an extremely high or low price — like the $800,000 home in our example — do not affect it as much.)

Inventory

The 33544 area saw the biggest decline in inventory (25.83%), as Active Listings dropped from 131 (Q2/2016) to 98 (Q2/2017). The 33544 area also had a 2.21% decline in the number of Homes for Sale — from 226 (Q2/2016) to 221 (Q2/2017) Active Listings. In contrast, 33545 had a huge gain as 110 homes were listed for sale compared to 82 in the second quarter of 2016 — a 34.18% increase.

See the tables below for a more detailed comparison of Q2 2016 and Q2 2017

33543

33544

33545

Now, I hope you enjoy some of the best articles, blog posts, etc. that we’ve found this week to help you with your home buying or selling decision. Enjoy!

Tampa:

Tampa ranks high in most ‘livable cities’ in U.S.

Compared to other cities in the United States, living in Tampa isn’t too shabby.

According to a study by WalletHub, Tampa ranked No. 14 on its list of 2017’s Best Big Cities to Live in, earning the highest spot in Florida.

Read More

From the Blog:

U.S. Housing Inventory Hits a New Low… List Your House TODAY!

Every summer, families across the country decide if this will be the year they sell their current house and move into their dream home.

Mortgage rates have hovered around 4% for all of 2017, forcing buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW!! At the same time, inventory levels of homes for sale have dropped dramatically as compared to this time last year.

Trulia reported that “U.S. home inventory has tumbled 8.9% over the past year and has now fallen for nine consecutive quarters.” There is now 20% less inventory than there was five years ago.

Here is a chart showing the decrease in inventory levels by category:

Read More

How’s the Real Estate Market? Find Out What the Experts Are Saying

According to Bankrate’s latest Financial Security Index Poll, Americans who have money to set aside for the next 10 years would rather invest in real estate than any other type of investment.

Bankrate asked Americans to answer the following question:

“What is the best way to invest money you wouldn’t need for 10 years or more?”

Real Estate came in as the top choice with 28% of all respondents (3% higher than last year), while cash investments – such as savings accounts and CD’s – came in second with 23% (the same as last year). The chart below shows the full results:

Read More

 

Buyers:

American Homebuyers Wish They Had Done These Things Differently

If only buying a home was as simple as taking a BuzzFeed quiz, as in: Choose your aesthetic — classic boho or modern chic? Pick a backyard fantasy — patio with a fire pit or luxe infinity pool?

Unfortunately, it’s rare that you ever get everything you want in a home — and a good number of homebuyers seem to make decisions they come to regret down the road. According to a new survey out from Trulia, 44% of Americans say they have a regret about their current home or the process they went through in choosing it.

Read More

Millennials are influenced more by dogs than marriage, children when buying a home

If only buying a home was as simple as taking a BuzzFeed quiz, as in: Choose your aesthetic — classic boho or modern chic? Pick a backyard fantasy — patio with a fire pit or luxe infinity pool?

Unfortunately, it’s rare that you ever get everything you want in a home — and a good number of homebuyers seem to make decisions they come to regret down the road. According to a new survey out from Trulia, 44% of Americans say they have a regret about their current home or the process they went through in choosing it.

Read More

Search All Tampa Area Homes for Sales 

Sellers

Selling a home? Try these simple, inexpensive swaps for any room

Whether you’re looking to sell your house or just make a change, updates can seem daunting if you’re not prepared. To help you come up with a game plan for every room in your house, Lex and Alana LeBlanc from “The Listed Sisters” on HGTV, stopped by TODAY Wednesday with tips on what to keep, ditch and replace in your favorite spaces.

Read More

Home Loans

Mortgage Rates Drop Again

The 10-year Treasury yield rose 5 basis points this week while the 30-year mortgage rate dropped 4 basis points to 3.92 percent. Mortgage rates in next week’s survey would depend on how the market reacts to the Fed’s balance sheet unwinding announcement.

  • 30-year fixed-rate mortgage (FRM) averaged 3.92 percent with an average 0.5 point for the week ending July 27, 2017, down from last week when it averaged 3.96 percent. A year ago at this time, the 30-year FRM averaged 3.48 percent.
  • 15-year FRM this week averaged 3.20 percent with an average 0.5 point, down from last week when it averaged 3.23 percent. A year ago at this time, the 15-year FRM averaged 2.78 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.18 percent this week with an average 0.5 point, down from last week when it averaged 3.21 percent. A year ago at this time, the 5-year ARM averaged 2.78 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 Chart

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
www.teambohannon.com

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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

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