Wondering if it is good time to sell your home? I think the market trends would say yes. According to the September 2015 monthly market statistics compiled and published by GTAR (Greater Tampa Area of Realtors), the median single family home price increased 10.1% from the 2014 $159,900 to $176,000 in September 2015. The average single home price has also increased by 11.3% to $222,318 from $199,778 just a year ago. Inventory has also decreased by 10.5% during the same period. Moat economists consider a balance market when there is 5.5 month supply in the market. According to September 2015 statistics, there is just 3.5 month supply of inventory, which is a decrease of 26.1% just a year ago. Thus, it is still a seller’s market.
Distressed sales are also decreasing in the current market. The number of single family homes from a foreclosure/REO has decreased 23.8% from 2014 to 2015. However, the median single family home price/sale from a foreclosure/REO increased 12.81% from the 2014 $99,287 to $112,000 in September 2015. Short sales have also declined 25% from a year ago.
Thinking of buying or selling real estate? You should consider using a realtor. If you are interested inbuying real estate (new home, existing home, or commercial property), please contact me (Alan Lane with Keller Williams Realty at 2119 W Brandon Blvd, Brandon, Florida 33511). As a life long resident of Central Florida, I can help you find the right property for you whether it is in Lakeland or as far south as Sarasota. The Keller Williams offices of ”Suburban Tampa” include the offices in Brandon, Plant City, Fishhawk Ranch, and our newest office in Valrico. My email address is firstname.lastname@example.org, or call me at 813.205.9280. If you are just starting your search, you can search the MLS for real estate opportunities on my website at this link.