Hillsborough County Residential Market May 2017

IMG_4126.jpgThere has been a lot of news about the health of most residential markets throughout the United States.  But in Hillsborough County (Tampa) Florida, the residential market remains strong and should continue to be strong into the immediate future.  So if you are relocating to this area, you should not be worried about buying a new home.  Per MLS statistics, there are some significant market indicators that show that the market continues to be a seller’s market.  The number of active listings have continue to decline.

Active Listings 5 10

We have also seen a steady historical sales price trend from its low in January 2011 with the current trend is not at the 2007 level when the bubble burst (i.e. there were 11,541 sales in April 2012 versus 8,027 sales in April 2017).  It’s this steady trend that should keep the market a seller’s market and healthy into the near future.

Historic sales price trend 5 10

The actual days on the market (ADOM) has been declining despite the increase in price.  As of April 2017, the ADOM is only 23 days with a median list price of $223,000 versus 42 days in February 2015 when the median list price was $185,900.

ADOM 5 10

We are also seeing a decline in the number of sales in most price ranges in the past three years.  This is especially true for homes under $100,000 when there were 6,630 sales in 2015 versus 3,957 sales in 2017.

Historic sales X Price range 5 10

KW1784102f20KW_thumb.jpgYou should consider using a realtor.  I could save you money especially with new home builders and it does not cost you anything.  So why not?  If you are interested in buying real estate (new home, existing home, or commercial property), please contact me (Alan Lane with Keller Williams Realty a.t 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 alanlane66@gmail.com, 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

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