The Connection Between Baseball and Real Estate-Tampa Scores BIG!

Wow! What an April! Putting together a record of 17 and 6, the Tampa Bay Rays had the best record in baseball for the opening month. They led the majors in total runs scored and runs batted in while they held their opponents to fewer runs scored than any other team. The pitching staff has the lowest ERA in the big leagues by almost a full point. We’re all watching the games and talking baseball like it’s the playoffs. I’ve never seen so much excitement about baseball in April.

There is an obvious connection between baseball and Tampa Real Estate. The Rays improved their winning percentage by 30% over April of 2009; the number of sales for April 2010 shows a 28% increase over last year. Runs scored? Up 23%; Median Sales Price? Up 24%. Runs allowed improved by 21%; the number of sales over the last 12 months improved 23%. Need any more reasons to be a Rays fan?

The truth is, we are not seeing one single negative factor in the market. For the last twelve months, the number of sales has steadily outpaced the previous year. Prices have stabilized, at least in the market below $800K. The absorption rate sits at a very healthy 12, meaning that there’s not a lot of inventory.

In fact, we are hearing that the lack of quality inventory is becoming a problem in the lower to mid price ranges. Sales of upper end homes are beginning to happen, but at prices that are strategically below their competition.

But don’t break out the champagne just yet; we’re a long way from a World Series ring and a lot can happen along the way. A few key injuries, a mid-summer slump, a loss of confidence, or any number of factors beyond our control can stall a winning season.

Likewise, the real estate recovery, while it appears to be solid, is actually very fragile. Increasing unemployment, a rise in interest rates, or a volatile stock market – any number of factors beyond our control – could turn a winning season into a loser. But for now, … everything points to a much improved season.

This report was based on  South Tampa Neighborhoods, Zip Codes: 33606, 33609, 33611, 33629

By: Bruce Tigert-Bayshore Title-Tampa, Fl

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