Monday, October 15, 2012
Property Inventory Dropping: Tampa, Florida Among The Lowest Inventory
A report published by the web based real estate company, Zillow, shows that the amount of homes for sale fell by 19.4% in the last year! Zillow divided the statistics by price tiers. The greatest reduction of inventory has come from the top two tiers.
Three metro areas of Florida made the list with Tampa, showing a year over reduction of 19.8% for the top tier, and 23.3% for the mid-tier homes. The overall average reduction in inventory was 22.9% for Tampa Florida real estate market. This should make it easy for fence sitters who are waiting on the sideline for the “right time” to list their homes. Those who have questioned selling their home for the last year are beginning to realize that they missed the bottom a while back and may be scrambling to catch up.
As far as buyers are concerned, the time has passed for them to offer $10,000 under listing price. The days of low ball offers are over. Buyers are now starting to participate in bidding wars over properties that used to be great “steals” and are finding themselves out of luck. We have seen this mix of declining home inventory, record low interest rates, and the general supply and demand curve start to look normal again for some time.
Our question to you is, why wait? Call us today to discuss your real estate goals and options, and don’t be the one on the sideline wishing you would have acted sooner.
SI Real Estate offers highly personalized, multilingual, full-spectrum real estate purchase and sales services. We are a boutique for sophisticated investors, select owners or renters who may be upgrading locally, or those making traditional relocations. We also provide turnkey landlord and tenant management. Blending comprehensive insight into the Tampa Bay area with international perspectives for a worldwide clientele, we like to think that “SI Real Estate is Global Real Estate in Every Way!”