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TAMPA BAY MARKET REPORT – OCTOBER 2017

After a drop in listings in September, October showed a significant increase in new listings for Pinellas, Hillsborough, and Pasco Counties. Prices remain steady for the month of October with an overall increase since last year at this time. Closed sales have also increased, which is a relief with the shortage of inventory in recent months.  There is approximately two and a half months of inventory on the market currently, which is a decrease from last year, an indicator of the need for more homes.

Pinellas and Hillsborough Counties’ strongest sale prices are between $150,000 to $250,000 and Pasco County’s strongest prices are between $100,000 to $200,000.  Sellers are receiving over 96% (median value) of their asking price.