It’s been said many times that real estate is a local business. This week’s real estate and business news really brought that home.
In spite of gloomy stories about European debt, Tampa area home sales and prices are well up from last year, as reported just this week in the Tampa Bay Times, Home sales and prices rise in Florida and Tampa Bay area.
Median sales prices for single family homes in Florida are 9% higher than this time last year, at $147,000. (Median means half the sale prices were below this amount and half were above.)
For the Tampa area home prices are 8% higher, with a median sales price of $143,000.
The number of houses on the market is well down also, which is good news for sellers. There are actually 34% fewer homes listed for sale than this time last year — a huge drop!
And homes in the Tampa area are selling in an average of 41 days on the market, down from 67 days a year ago.
This doesn’t look like a blip, as the number of pending sales of single family homes expected to close in 90 days in up 43% from last year, and up 33% for townhomes and condos.
As a realtor, I naturally think this is great news!
And I’m certain that there are many property owners out there who are relieved as well.
If you’ve been waiting for the real estate market to improve before putting your house on the market, the signs are looking good! Give me a call at 727.286.1249 and we’ll get you sold!Google+