Please contact us if you have any question about the Tampa real estate market or visit our real estate website at www.tampa2enjoy.com.
Tampa Real Estate Market Report For May 2016
Here's the latest Tampa real estate market report for May 2016 from Tampa real estate agent Lance Mohr of Keller Williams. Contact Lance at www.tampa2enjoy.com.
The housing market news data provided has been pulled from the MLS, regarding single family homes in the Tampa/Hillsborough county areas in Florida. Let go over May 2016… I have never seen anything like this in all my years in Tampa Real Estate! Active homes hasn't changed much from April, and neither has pending sales. But check out the sold homes- I had to double check the market statistics in order to make sure that my data was correct. We went from 1700 sold homes the previous month up to 2300! It's amazing! Short sale homes and bank owned homes have gone down significantly. If you are a home buyer and you're looking for a home between $100K – $200K in Hillsborough county, there is only less than 1 month of inventory. Which means it's very tight if you're looking for a new home. There will be a fight for property inventory and therefore multiple offer situations will arise from it. There will also be a lot of buyer traffic coming to see listed homes for sale. Within 18 hours, a new listing of mine had 14 showings and we received 3 offers… this was just days ago! Let me know your thoughts on this housing market trends update. Best of luck to you in Tampa real estate!
Tampa Real Estate Market Update for February 2016
Here's the most accurate Tampa Real Estate Market Update for February 2016. The information is pulled directly from My Florida Regional MLS. The only MLS provider for companies in Central Florida.
Contact me if you have any questions or would like to set up a free consultation. Please visit our Tampa real estate website at www.tampa2enjoy.com.
Tampa Real Estate Market Statistics for June 2015
In the video below I go over the real estate statistics for the Tampa market in June 2015. It's a sellers market as the inventory is getting lower and prices are increasing.
If you have any questions please contact me via my website at www.tampa2enjoy.com.
Tampa Real Estate Market Statistics – February 2015
I just released the Tampa real estate market statistics for February 2015. The inventory is going down and the prices are going up.
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January 2015 Statistics – Tampa Real Estate News
Take a look at the video about the latest Tampa real estate statistics for January 2015. This real estate market update will give you great insight as to what kind of market we are in. The data comes directly from My Florida Regional MLS. MFRMLS is the MLS provider for all Realtors in Central Florida.
Visit my website to get the most accurate MLS search in all Central Florida. I would love to help you with all your real estate needs.
Fannie Mae – Housing Recovery Remains Positive
Many people have a bad taste in their mouths over the condition of the housing market over the last few years and even though the market seems to be rebounding, consumer attitude does not seem to be doing the same. Many of the industry experts expect that home prices will rise in the next year. While some reports indicate that weather could have played a role in some states with an extended winter, others are noting that consumer attitudes are just not the same as they were a few years ago. After surveys showed how consumers feels about buying a home in January showed that confidence is falling, which has been that same way for the last four months.
Housing Recovery Expected to Press On Despite Recent Volatility in Consumer Attitudes
“Americans' outlook on housing and the economy has fluctuated somewhat during the past few months, but the trend for most indicators remains positive overall, according to Fannie Mae’s February 2014 National Housing Survey results. Notably, respondents' home price expectations climbed significantly in February – with 50 percent saying home prices will go up in the next year – following a measurable downturn in January, while the share of those who believe it is a good time to buy a home ticked up by 3 percentage points. At the same time, those who believe that it would be easy to get a mortgage dropped 7 percentage points from January's all-time survey high of 52 percent. Additionally, the share of respondents who say the economy is on the wrong track increased 3 percentage points to 57 percent in February, following a four-month decline. Despite a decrease in optimism across some of the indicators last month, consumer attitudes remain in generally positive ranges.
“Similar to the noisy economic and housing data published over the past few months, we've seen a corresponding increase in volatility in our survey results, particularly for home price expectations and perceptions about the ease of getting a mortgage,” said Doug Duncan, senior vice president and chief economist at Fannie Mae.”
In summary, the attitudes of the consumers are certainly going to play a role in how the housing market changes in the near future. When consumers feel that the economy is picking up and the time to buy a house is now, home sale rise while repossessed homes tend to dip during those times. On the other hand, when consumers feel that the housing market is not worth getting into because of a sliding economy, the market falls and foreclosures might even pick up a bit for a month. The consumer attitude is important to the housing market because they are the ones that hold the cash. If money is not being exchanged, the overall market sees that in more ways than one.
Tampa Real Estate Market Statistics for February 2014
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.
Florida Housing Market Improves During Last Months of 2012
There is encouraging news about an upsurge in home sales. Summer Greene, 2012 Florida Realtors President, states that Florida’s real estate market has retrieved its ‘sizzle’. Credit for the hot market is due to things like the shortage of for-sale homes.
The regional manager for Fort Lauderdale’s Better Homes and Gardens Real Estate Florida 1st, Greene is in a position to observe market trends. More jobs and a better economy are bolstering consumer confidence for 2013. Mortgage rates are expected to remain low.
The Chief Economist for Florida Realtors, Dr. Jon Tuccillo, endorsed the optimistic outlook. Growth in home prices is the result of a solid recovery in real estate in Tampa Bay and other parts of Florida. Average prices have soared, resulting in actual marketplace appreciation. that impacts median prices, which usually would be less as investors take on the lower end of the market inventory.
Freddie Mac reports the average interest rate dropped from 3.99 percent in November 2011 to 3.35 percent for November 2012 on a 30-year fixed-rate mortgage. The overall savings that result led to an increase in Florida’s housing market pending and closed sales, as well as average and median prices. Florida Realtors reports a noticeable reduction in the inventory of condos and homes for sale during the final months of 2012.
According to industry analysts, a balanced market between sellers and buyers features a 5.5 month supply. November 2012 inventory statistics for Florida single-family homes showed a supply for 5.1 months. Townhome and condo properties also reported a lower amount, with a 5.3 month’s supply.
Statewide sales of townhomes and condos are up 18.3 percent from November 2011. November 2012 registered the monthly sale of 8,079 units across Florida. Pending sales, which are signed contracts that have not been closed or completed, have increased 30 percent when compared to townhome-condos statistics for November 2011. Although lower than the national condo median price reported by the National Association of Realtors (NAR) for October 2012, the $112,000 Florida townhome-condo median reflects a 23.1 increase from last year.
Single-family existing homes statewide have a median sales price of $150,000. That represents an increase of 11.2 percent in the year from November 2011. In the same amount of time, pending sales show a 45.8 percent increase. Median prices across the nation include California ($341,370), New York ($209,000) and Massachusetts ($287,000). As of October 2012, the national median sales price raised 10.9 percent to $178,700.
Data from 10K Research and Marketing as well as Florida Realtors Industry Data and Analysis, showed 17,072 existing single-family homes sales closed statewide in November. That is an increase of almost 25 percent in just one year. Once the sales contract was written, closing generally took between 30 and 90 days.
Median prices reflect the midpoint. Half of the sold homes are less than that amount, while the remaining half represents a higher sale price. Factors affecting the median price in Florida and nationwide include discounted prices for distressed properties and foreclosure sales. Those prices are typically less than that of a well-kept, traditional home.
For more information on Tampa Bay home prices please visit http://www.tampa2enjoy.com.
Florida’s Housing Market Continues Positive Trends in October 2012
Pending sales, closed sales and median prices rose, while the inventory of homes and condos for sale dropped in Florida’s housing market in October, according to the latest housing data released by Florida Realtors®.
“With Thanksgiving just around the corner, we have a lot to be thankful for here in Florida,” said 2012 Florida Realtors President Summer Greene, regional manager of Better Homes and Gardens Real Estate Florida 1st in Fort Lauderdale. “The state’s latest unemployment rate fell to 8.5 percent, the lowest in nearly four years – and combined with the momentum of the housing market, it clearly shows that Florida is on a positive path and has been for months. Pending sales, closed sales and prices are trending up.”
Statewide closed sales of existing single-family homes totaled 17,779 in October, up 25.3 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing. Closed sales typically occur 30 to 90 days after sales contracts are written.
Meanwhile, pending sales – contracts that are signed by not yet completed or closed – of existing single-family homes last month rose 56.7 percent over the previous October. The statewide median sales price for single-family existing homes in October was $145,000, up 9 percent from a year ago.
According to the National Association of Realtors® (NAR), the national median sales price for existing single-family homes in September 2012 was $184,300, up 11.4 percent from the previous year. In California, the statewide median sales price for single-family existing homes in September was $345,000; in Massachusetts, it was $294,900; in Maryland, it was $244,357; and in New York, it was $225,000.
The median is the midpoint; half the homes sold for more, half for less. Housing industry analysts note that sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes.
Looking at Florida’s year-to-year comparison for sales of townhomes-condos, a total of 8,252 units sold statewide last month, up 16.4 percent compared to October 2011. Meanwhile, pending sales for townhome-condos in October increased 47.1 percent compared to the year-ago figure. The statewide median for townhome-condo properties was $107,000, up 20.2 percent over the previous year. NAR reported that the national median existing condo price in September 2012 was $181,000.
The inventory for single-family homes stood at a 5.2-months’ supply in October; inventory for townhome-condo properties was also at a 5.2-months’ supply, according to Florida Realtors. Industry analysts note that a 5.5-months’ supply symbolically represents a market balanced between buyers and sellers.
“Once again, everything that should be going up in the market is going up, and everything that should be going down is going down,” said Florida Realtors Chief Economist Dr. John Tuccillo. “As impressive as the year-over-year gains for October are, far more impressive are year-to-date gains of 2012 over 2011. They indicate the depth and resilience of this recovery.”