MLS Statistics for Tampa

The Broker of Keller Williams Realty Tampa Central, Chris McLaughlin and Patricc Petti, Sales Associate would like to share the following information regarding Tampa's Real Estate Market:

Well, the April numbers are here, and they continue to show signs of a strengthening real estate market!

The MidFlorida MLS reports that the Greater Tampa Association of Realtors closed 1,235 homes in April, which is up from 1,162 homes in March and well north of the 791 homes sold in January. What truly shows that we've reached a bottom is the comparison over April 2007 numbers -- when we sold 1,249. So in essence we almost sold the same amount of homes that we did a year ago. IMPORTANT: This past April was the highest sales for GTAR since the mortgage crisis began in August of 2007, when we closed 1,384. Ever since August we have consistently closed under 1,235 -- this is important as it represents a "bottom" that has formed for our market, just as last month also did.

There are now 20,117 active GTAR listings, which is down from 20,141 last month and down from our height of 20,942 in October 2007. Our months of inventory dropped to 16.29 from 17.33 in March, but we are still very much in a buyers market. In addition, the average list price dropped to $237,227 from $244,670 last month and the average sales price declined to $222,254 from $230,204 last month. Finally, the percentage difference between sell/list dropped to 93.69% from 94.09% last month and the average days on market increased to 123 from 122 earlier.

What price categories sold last month? 188 of the 1235 homes sold in the $200,000-$249,999 price range, making up for 15.22% of the saleable market. This range made up 14.89% of last month's sales. Another range that is moving, which represented 10.20 of all sales, is the $140,000-$159,999 range, where 126 homes sold. There was also a nice increase in the $250,000-$299,999 range, where last month 110 homes sold versus 76 homes in March.

The $1,000,000 and up range continues to hold its own, with 11 closings last month, which was up from 10 in March. Its a very positive sign for our luxury market, over 70 homes sold for over $500,000 last month.

Foreclosures continued their onslaught. Hillsborough County had 1,549 foreclosures, which is up from 1,419 in March and 1,371 in February. There were 593 foreclosures in Pasco County, which is up from 581 foreclosures in March and 652 in February.

These statistics will be posted on my website within the next day or two.

-Patricc