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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.
Below is a screenshot video going over the July real estate statistics for the Tampa area. If you have any questions please contact me.
It's still a “red hot” market with a lot of cash buyer out there. So if you are thinking of buying a home make sure you get a VERY aggressive and knowledgeable Realtor. It will make the difference between you getting the home you want or another buyer buying your home.
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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.
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.
Above are the most accurate real estate statistics. The December 2014 data was taken directly from MFRMLS. The MLS provider for all real estate agents in Central Florida. If you have any questions please give me a call or send me an email.
2014 was a good year for real estate in the Tampa Bay area. Prices went up a little higher than the rate of inflation. This was mainly due to the low level of homes for sale in the market, opposed to a high demand of buyers wanting to buy. 2015 is looking at being an even better year as inventory will still be quite low and home prices should increase at a good rate as well.
Expect the home-purchase market to strengthen along with the economy in 2015. Here's what Frank Nothaft (Freddie Mac‘s chief economist) had to say last month: “The good news for 2015 is that the U.S. economy appears well-poised to sustain about a 3 percent growth rate in 2015 – only the second year in the past decade with growth at that pace or better…”
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Below is the transcript:
Hi everybody, this is Lance Mohr and I’m going to go over the Tampa real estate news and talk about the August real estate statistics. If you’re a buyer or seller and you’re needing help, if you have any questions whatsoever, don’t hesitate to give me a call, I’ve been in business since 1997 and have tons of experience. I’ve worked with thousands of home buyers and home sellers and I’ve seen about everything there is to see in real estate ten times over – so don’t hesitate to give me a call if you’re looking for someone to represent you as a buyer’s agent or seller.
So let’s get into the August statistics. I’ll start off as I always do and talk about the active listings first. As you can see, there’s really not much of a change. It did go up a little bit as there are a few more active listings. We went from 5,225 to 5,288 – not a really big increase. But the surprise is pendings, the pending sales went from 3,304 to 2,835. That’s almost 15% drop in one month. That’s a really big drop. So let’s go back to over to solds. Again, not a whole bunch has changed, we’ve gone from the July statistics of 1,390 homes that sold, compared to 1,414 in August. But what you’re seeing here, if you look at these statistics closely, is the pending and that’s a big drop. Generally speaking, June will be a little slow only because schools are getting out and August generally will be a little slower just because school is getting back in but May, June, July, August – those are generally very strong months in real estate and to drop almost 15% in one month is a lot. In the next month or two the solds are going to start dipping and they’re going to go from the 1,400’s into the 1,300’s and possibly into the 1,200’s. That’s because of how slow things are now. So what this is telling you is that the buyers are pulling back the a little bit and not really looking as much as they were.
If we go down to the bank owned and solds, you can see that 21% of all homes that sold were bank owned. That tells you sellers that buyers want a good deal. Now I’m not saying bank owned properties are a good deal or a great deal, I still think about 50% – 60% of all the banks have their homes overpriced. But it’s a perception of a deal. If we go over the statistics for August in the price range, you can see we’re still in the seller’s market across the board. If the seller puts their home for sale and they price it competitively, condition it so that it really looks good and market it so that it’s out there, it’s going to sell. It’s going to sell, whether it’s under $100,000, whether it’s under $250,000 or $300,000 – it’s going to sell. But once you start going over $300,000 (maybe even $250,000) it’s going to start getting a little harder to sell because there’s not as many buyers out there – not as many fish in the sea. But as you can see from these statistics, the Tampa real estate market is still strong. We’re still in a very good market and we’re still in the seller’s market; but we’ll what happens. I’m very curious to see what happens in September. Are the pending sales going to trend down and at what rate? As you can see the active homes are continually creeping up.
I hope this helps. Visit our real estate blog at www.tampa2enjoy.com/blog and you can see the Tampa real estate news, monthly statistics and a bunch of other terrific information. Have a great day and don’t hesitate to give me a call or send me an email if you have any questions.
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.
With the media attention focus on the continuing economic downturn, it is easy to miss the recent happenings surrounding the Tampa real estate market; fortunately, we’ve made it easier than ever to keep track of what is happening in the area with a weekly review of what you need to know.
New School Boundaries?
Ranked among the top 100 high schools in the nation, Plant City High School remains a driving force behind much of the popularity of the area. Recent announcements by the Hillsborough School Board suggest big changes may be in the works as proposed boundary changes dramatically impact the lives – and property values – of homeowners in the area.
Trump Dumped Tampa Tower
If the hoopla surrounding the Trump Tower projects seems to have died down chances are it isn’t your imagination. The project has experienced negative publicity on both sides as Donald Trump sued for licensing fees and a counter-suit was filed by SimDag claiming breach of confidentiality. Despite filing for bankruptcy protection and losing the Trump name, SimDag has no immediate plans to sell the riverfront property in the current market. What this means for commercial property in the immediate Tampa metro area is unclear. Suffice to say – it appears the Trump name will not be the staring attraction in the Tampa Bay skyline at least for the immediate future.
Tampa Bay Top Ranked GDP!
Need a little good news this week? Here is something that should make everyone a little happier to own a bit of Tampa Bay real estate; Tampa Bay just ranked 23rd in GDP growth among major metropolitan areas throughout the nation. Not only is Florida rapidly overtaking New York for 3rd place in the most populated states in the country, but the greater Tampa area has consistently ranked as a leader both nationally and within the state itself.