TAMPA LISTINGS AND SALES… WHERE ARE WE TODAY?

Tampa Skyline. City-Data.com

LISTED HOMES STATS

According to local MLS there are currently 4,899 homes listed for sale in Tampa.  2301 (47 %!!) of these home are listed under distressed circumstances (short sale, pre-foreclosure or bank owned).  This makes Tampa area a bit more “toxic” than St Petersburg and Pinellas county, where the ratio of the distressed vs. traditional listings is typically around 10% lower.

3,364 (68.7 %) of all listed properties in Tampa are single family homes.  The rest are condos, villas and townhouses (64.2 % in St Petersburg for single family houses).

Zillow Hilsborough Home Sales Stats

PENDING

2,510 properties are currently under contract and pending to close.  2,043 (staggering 81 %!) of them were listed as in distressed conditions. 

8,048 homes were sold in Tampa in 2010.  4,144 (51.5 %) of them were sold as short sales, pre-foreclosures or bank-owned (REOs).

Why are there more pending distressed properties than actually closed distressed deals? 

Well, simply because short sales take a lot longer to close than traditional sales.  Some short sale deals fall through and become active listings again.

Overall prices in Hillsborough County dropped 10 % year-over-year.  Current average price of a home is at $117,500.  

Zillow Hilsborough Stats

LUCKY NEIGHBORHOODS

Greater Northdale went up 1.4 % is average price year-over-year to date

Sun City Center went up 1.7 %

West Chase went up 2.6 %

However, the decline in prices in 2010 for most areas in Tampa stayed in single digits.  Number of sales increased comparing to 2009 and 2008, so hopefully this means that we’re coming into a flat plateau.  Meaning the sales prices this year will stay somewhat the same because there are still lots of homes on the market and more coming.  However, demand is increasing and buyers are starting to feel a bit more confident about buying at current reduced prices.

If you need to find the value of your home, you can always look it up in our Market Snapshot.  It’s a great resource both for buyers and sellers.  Click here to check your home value in Tampa Bay.

Tampa Bay Real Estate Blog by The HOME Team of Charles Rutenberg Realty, Inc.