Tampa Bay’s Single Family Residential Market

It still appears to be a seller’s market.  In other words, there is not enough inventory available.  According to FAR (Florida Association of Realtor) statistics, there are not enough homes available in the current residential housing market.  The statistic used to measure the available inventory is months supply of inventory, which means an estimate of the number of months it will take to deplete the current inventory given recent sales rates.  As of June 2013, the following Tampa-St. Petersburg-Clearwater MSA chart depicts 4.1 months supply of Inventory versus 6.0 months a year earlier as well an 18.7% increase in the median sales to $158,500 during the same time frame.

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As depicted in the chart, there has been a steady decline in inventory since the end of 2010 with just a recent increase in median sales prices over the last year.

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