Happy Monday, March 30!
How does this year’s Wesley Chapel housing market compare to the first two months of 2019? Let’s do a quick comparison of 2020 and 2019.
Through February 2020, Sold Dollar Volume climbed 14.48% but the Average Sold Price dropped 4.84%. If you remove Attached Homes (condos, co-ops, town homes) from the equation and only look at detached (single-family homes and villas) the Average Sold Price fell 3.81%. The Median Sold Price of detached and attached homes declined 3.84%.
The Number of Homes Sold climbed by 20.30% and Homes Stayed on the Market an average of 18.75% longer than in 2019. The Number of Single-Family Homes and Villas Sold rose 11.59%.
The Average List Price for Sold Homes decreased 4.92%. Average Sold Price to Original List Price ticked up 0.44%.
(See more details in the tables below.)
In the next table, you’ll see how many detached and attached homes sold at various price points. After that, you’ll find a table of all active listings (homes for sale) in each price band.
Finally, here’s a quick snapshot of financing methods used for purchases, as well as a review of how many homes sold in specific day ranges.
The angst caused by the coronavirus has most people on edge regarding both their health and financial situations. It’s at times like these when we want exact information about anything we’re doing – even the correct protocol for grocery shopping. That information brings knowledge, and this gives us a sense of relief and comfort.
If you’re thinking about buying or selling a home today, the same need for information is very real. But, because it’s such a big step in our lives, that desire for clear information is even greater in the homebuying or selling process. Given the current level of overall anxiety, we want that advice to be truly perfect. The challenge is, no one can give you “perfect” advice. Experts can, however, give you the best advice possible.
Let’s say you need an attorney, so you seek out an expert in the type of law required for your case. When you go to her office, she won’t immediately tell you how the case is going to end or how the judge or jury will rule. If she could, that would be perfect advice. What a good attorney can do, however, is discuss with you the most effective strategies you can take. She may recommend one or two approaches she believes will be best for your case.
She’ll then leave you to make the decision on which option you want to pursue. Once you decide, she can help you put a plan together based on the facts at hand. She’ll help you achieve the best possible resolution and make whatever modifications in the strategy are necessary to guarantee that outcome. That’s an example of the best advice possible.
The role of a real estate professional is just like the role of the lawyer. An agent can’t give you perfect advice because it’s impossible to know exactly what’s going to happen throughout the transaction – especially in this market.
An agent can, however, give you the best advice possible based on the information and situation at hand, guiding you through the process to help you make the necessary adjustments and best decisions along the way. An agent will get you the best offer available. That’s exactly what you want and deserve.
If you’re thinking of buying or selling, contact a local real estate professional to make sure you get the best advice possible.
March 26, 2020
The Federal Reserve’s swift and significant efforts to stabilize the market were much needed and helped mortgage rates drop for the first time in three weeks. Similar to other segments of the economy, real estate demand is softening. However, the combination of the Fed’s actions and pending economic stimulus will provide substantial support to the mortgage markets.
Thanks for reading Tampa Market Monday. If you want help buying or selling your home, please get in touch. We have sold over 5,000 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!