SI Real Estate Tampa and The Beaches

According to recent statistics posted by the Greater Tampa Association of REALTORS® ( GTAR ), June saw a significant increase in home sale prices and properties sold, as well as a notable decrease in days spent on the market. While we may not yet be out of the woods, this raw real estate data shows significantly improvement conditions in the Tampa Bay market. According to June’s market statistics, units sold were up by as much as 14 percent from May 2009 and 23 percent from last June. Year to date, home sales are up by approximately 20 percent. The days properties spent on the market were down by 7 percent from June, with an average of 110 days for the entire Tampa Bay area. The most positive shift in June’s statistics was the increase in home sale prices throughout the Tampa Bay area. All sub-areas of Hillsborough County saw an increase in selling price with the exception of Town n Country. The average home price was up by $14,000 from May with the average selling price at $191,160. P...

Cash buyers are grabbing deals at rock bottom prices in the Tampa Bay real estate market. According to the market statistics provided by the Greater Tampa Association of REALTORS® ( GTAR ), in April of this year 38% of all financing was cash. This is more than a 10% increase from April of 2008. Cash financing increased from 285 transactions in April of last year to 508 this year. FHA and VA financing has also seen an increased from last year, although not as drastic. Conventional financing has decreased from 555 transactions to 394, signifying that a majority of real estate transactions being made in the Tampa Bay area this year are by cash buyers. According to the same report from GTAR, homes sales have increased from 897 in April of last year to 992 in April of this year, with more than 3,424 total homes being sold to date in 2009. Market activity is definitely moving quickly in Tampa, Florida.