Year End 2018 Hillsborough County Market Update

The following is the state of the Hillsborough County Single family markert:

National and Regional Single Family Market

According to NAR, existing single family home sales have decreased with projected annual sales of 4,940,000 units in January 2019 versus 5,400,000 units in January 2018.  Statistics in the South have also decreased with annual sales in January 2019 of 2,080,000 versus 2,270,000 in January 2018.

2018 NAR Sales Volume Figures

As of January 2019 there was a 3.9 month supply of inventory available, which was up 5.4% from the previous year, nationwide.

As illustrated on the following table, the median nationwide existing single family home price was $247,500 in January 2019, which is up 2.8% from a year ago.  The median price in the South was $214,800, which was up 2.5% from the previous year.

The average nationwide existing single family home price was $286,800 in January 2019, reflecting a 1.5% increase from a year ago.  The average price in the South was up 1.3% from the previous year.

STATE OF FLORIDA HISTORICAL CLOSED SALES FIGURES

2018 NAR Sales Price Figures

Florida Single Family Market

The following data was prepared by the Florida Association of Realtors (FAR).

As can be seen in the following charts, sales of single family homes increased in 2018, compared with 2017 numbers.  Sales volumes have increased over the same previous year quarter every quarter since 2014.

2018 FAR Sales Valume Figures

STATE OF FLORIDA HISTORICAL CLOSED SALES FIGURES

2018 FAR Sales Valume Figures 2

Along with increases in the number of sales, pricing has also increased in 2018 with fourth quarter figures up 6.3% from fourth quarter 2017 figures.

STATE OF FLORIDA MEDIAN SALES PRICE FIGURES

2018 FAR Median Sales Price Figures

2018 FAR Median Sales Price Figures 2

Hillsborough County Single Family Market

The following data was prepared by the Greater Tampa Association of Realtors (GTAR).  As can be seen in the following charts, sales of single family homes have generally increased in 2018 over 2017.

2018 Hillsborough County Sales Volume Figures

HILLSBOROUGH COUNTY CLOSED SALES FIGURES

2018 Hillsborough County Sales Volume Figures 2

Along with increases in the number of sales, pricing has also increased in 2018 with fourth quarter figures up 5.4% from fourth quarter 2017 figures.

2018 Hillsborough County Sales Price Figures

 TAMPA AREA MEDIAN SALES PRICE FIGURES

 2018 Hillsborough County Sales Price Figures 2

CONCLUSION

The Tampa Bay MSA area experienced large growth in residential housing during the residential “boom” period of the early to mid 2000’s. Since the beginning of 2014, the market has shown increases in both pricing and sales figures.  Hillsborough County is slowly becoming more built out with less vacant land available for development.

In the Real Estate Market?

KW1784102f20KW.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? Let me save you money!!!  If you are interested in buying real estate (new home, existing home, or commercial property), please contact me (Alan Lane with Signature Realty Associates at 2234 Lithia Center Lane, Valrico, Florida).  

As a life long resident of Central Florida, I can help you find the right property for you whether it is in Orlando or as far south as Sarasota.  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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