TAMPA BAY MARKET REPORT – JULY 2018

TAMPA BAY MARKET REPORT – JULY 2018

Overall, prices have increased since last year, consistent with the trend over the last several years.  All three counties show an increase in the months’ supply of inventory, now at almost three months total.  Three months’ supply of inventory still leans in favor toward sellers and begins to level out in a normalized market at about four to five months’ of inventory.  Active listings or homes for sale are on the increase as well as new listings year-over-year.

Hillsborough and Pasco Counties have had a booming new construction market over the last five years, which may help as these homes are completed.  Read my article explaining the impact of new construction completion on home sales, lessoning the effects of a low inventory housing market.  With the increase of inventory, total sales (closed transactions) may begin to see an increase in the near future with more housing available to buyers who have given up looking for a new home.  These trends will be exciting to watch in the coming months as we head to the end of this year.  For a closer look at the current single family home statistics in Hillsborough, Pinellas, and Pasco Counties, click on the images below: