Housing Sales Drop 29% in Tampa Bay
Compared to August 2006 Tampa Bay real estate is down 29% from last year. This August say 1709 Tampa Bay area homes sold with a median price of $226,000. Compare that to last year with 2415 homes sold in the same area and you’ve got a 29% decrease in sales for the area.
At the end of August there were 26,444 Tampa Bay area homes on the market and in the past month less than 10% had sold. Do sellers have to worry that things are on a downhill slide? Not at all – what you are seeing is an adjustment in the market back to a more normal market from the red hot market of just a year ago.
There are some excellent opportunities in the are for both investors and home buyers attracting both professionals and families. The median price last year was $237,500 a drop of 5%. One thing is for certain – Tampa Bay is definite one of the most affordable metro areas in Florida. The median price for the state of Florida is around $240,000.
New construction continues to be booming with all kinds of golf club, and waterfront development, and of course there’s always new construction in the burbs.
Whether you are buying or selling it is one of the biggest and most important decision in your life. If you are looking for real estate in the Tampa area you should start by finding yourself a realtor who is trained in negotiation skills and works under high ethical standards.
There are certainly some great deals to be had, so now’s the right time to start house hunting.