Listing price: - Usually properties do not sell for this amount. - Listing prices are most often a tool to trigger showings and offers. - Average listing price in Tampa is: $308,425 / Median Sales Price: $114,505, an impressive 14% increase from last yr. (updated mid-July) - Here is an example of a real life Tampa transaction: Recently one of our brokers sold a condo at $172K. Listing price was $155. Multiple offers were submitted. Read more about this trend here.
Comparative Listings: - Investors decisions based on ROI - Homes that were purchased at the beginning of 2012 will not yield the same return rate if you were to purchase it now. A townhome an investor client purchased last year at $80,000 are now selling for $126K. Be sure that the bottom of this real estate market was quite some time ago. - Median sales price last year in July were $99,000. July 2012 prices are now upward to the $115,000 range, and climbing as supply is diminished.
Other factors leading to a more stable real estate market: - Building permits for new homes has hit the highest number in 4 years - Lowest supply of homes for sale since 1963 (144K in June 2012) - Fewer foreclosures are making up the bulk of the real estate sales.. Excellent news. - All 20 cities that the S & P home price index tracks are seeing increases, including Tampa!