Taking a look at the numbers for April and May in the South Tampa Real Estate market, everything is in the plus column. The number of transactions continues a steady climb; looking at the Year to Year Comparison, we see a 10% gain from the previous twelve month period. This is a trend that started eighteen months ago and has remained constant.
The Average Sales Price hit the bottom a year ago, and is now at its highest mark in four years.
Take a look at the Twelve Month Trends for South Tampa Real Estate:
The Average Price for May is 24% above the average for the past twelve months. The Median Price is up 17%; the Average Price Per Foot is up 12%. Now check out the Sales By Price Range. The number of listings just shot up by 25% in one month.
So what lies ahead? Will prices continue to spiral upward? Will the number of sales hold up? Or is this a flash fire that will quickly burn itself out? I’m guessing it’s a little of both. Don’t be surprised if we see a small dip over the next quarter; these numbers set a pace that will be hard to match. But in the long run, prices will continue to climb, and with the interest rates at all-time lows, this is a great time to buy a home. And a great time to sell! Here’s an article on how to sell your home without looking desperate that you may want to read.
Personally, this has been a record breaking week for me no doubt! I received three contracts in one week, with multiple offers, and both the buyers and sellers are HAPPY! Tell your friends to contact me if they are thinking of selling. Inventory is at an all-time low and buyers are buying! I’m truly grateful.
Here’s the full South Tampa Real Estate report for May, 2012 courtesy of Bayshore Title in South Tampa. This report includes statistics for Beach Park, Sunset Park, Hyde Park, SOHO, Culbreath Isles, and Palma Ceia