I everybody, this is Lance Mohr, the Tampa real estate market expert and I’m going to go over the Tampa real estate market statistics for February. If you are looking at this on YouTube or another site you can just blow it up full screen.  I know YouTube kind of distorts things with resolution.  It is a little hard to read but if we look right here at the activity level in the market, you can see from statistics in January and February it is basically unchanged. Pending sales were up a little bit which is normal you know as we move into the months that are going to be up.  I am a little surprised I have to admit so far that March is slow.  It is a lot slower than I would think it would be.  Generally speaking March is always the best month but anyhow sold sales in February are up and for the last couple of months as you know I’ve been telling you this is the way it is going to be.  It is pretty much historic.  It is like this all of the time.  December generally there are a lot of closings because people want to get into a home before the end of the year and a lot of other reasons and then you have in January it dips off and then it starts to pick back up in February as well.

The one thing I’m going to point out, I’m going to get to another screen but first if you take a look at these, the short sales, you can see overall short sales are down below 10% which is normal and the foreclosed homes are picking up a little bit.  There is still, it really depends on the price range if you are under 200,000 keep in mind there are a lot of fish swimming in that sea so things tend to go a little bit better and a little quicker than if you are say over $200,000 or even over $250,000 or $300,000.  The higher you go obviously the less fish are swimming in the sea.  So let me go over February’s statistics; a little bit more of a breakdown right here.  You can see you have the active, you have the pending, and you have the sold.  Now check this out, there’s in short sales there’s 1,346 pending short sales. The last month there were only 95 short sales that actually closed.  That’s about 7%.  That’s really, really low.  I mean if you are looking for a short sale you better really, really like that home in order to you know wait that long for it and watch other homes pass you by because as you can see they are just not closing like they were.  There’s again if you have been watching my other videos there’s reasons and I have explained that for that reason.

Anyhow if you look over here bank owned 480 bank-owned in the market and 213 closed.  That’s about a 44% ratio on traditional sales, 1454 and 699 closed, that’s a little below 50% ratio about 48% ratio or so.  So you can see most of what people are writing, you know I would really like to see about a 50% ratio.  Somewhere I would say between 35 to 50% or over 35% ratio certainly not 7%.  So just keep that in mind.  You can look right here it is 70s. As you can tell the 95% of the short sales that closed let’s even take 466 short sales on the market once you start going over $200,000 they drop off and then the higher bracket you go the less there are.  It is the same thing with bank owned as well.  They are very similar and these you can see in the market up to $200,000 certainly from $100,000 to $200,000 15% of all the homes are short sale and 19% are all bank-owned properties out there.  As soon as you go over $200,000 or $200,000 to $300,000 that 15% basically gets cut in half a little over half and so did the bank owned, so the short sales go from 15% to 7% and the bank owned go from 19% to 8% and then they drop off even more as you go higher priced.  So hopefully this helps you understand where the market is.  Let me just point out one more thing really quick.  This is the inventory supply and demand so you can see we are in basically a stable market.  It is still a slightly a seller’s market but it depends on what price range you are at.  You can see down here $100,000 to $200,000 where most of the buyers are or there are  lot of fish in the sea that I would like to say.  The, so the short sales go from 15% to 7% and the bank owned go from 19% to 8% and then they drop off even more as you go higher priced.  So hopefully this helps you understand where the market is.  Let me just point out one more thing really quick.  This is the inventory supply and demand so you can see we are in basically a stable market.  It is still a slightly a seller’s market but it depends on what price range you are at.  You can see down here $100,000 to $200,000 where most of the buyers are or there are  lot of fish in the sea that I would like to say.  They are at about 3.5 months of inventory so if you see a home you like don’t think about it too long or it is going to be gone.

When you start to get over $200,000 – even $300,000 –  you have a little bit more time. But keep in mind; generally what you like someone else is going to like. If you have any question don’t hesitate to give me a call.  If you like this video please share it.  If you have any comments, questions, or statements write it in the comments.  If you are watching this on YouTube or another site or even on my YouTube Channel.  I do free home buyer webinars every week. You can go to my Facebook site, or go directly to them TBbuyerwebinar.com or TBsellerwebinar.com and register.  I try to keep them about 30 minutes.  They are very short and very to the point.  No fluff at all.  I hope this helps and I hope you have a great week.  If you have any questions please reach out to me.  Thank you very much.  Visit my website tampa2enjoy.com.