Tampa Bay Real Estate Market Update | December 2019
Hello! It's time for your Tampa Bay real estate market update. The Florida REALTORs recently released stats for November 2019 for Pinellas, Hillsborough, Pasco and Hernando County single family home sales. The biggest news is that inventory is very low right now. There's currently 10,245 active listings on the market and that's a 14.1% decrease from last November. This is one of the lowest numbers we've seen in a very long time so there's really not a lot of homes for buyers to choose from right now.
The median sales price jumped back up. So if you saw my video last month, it went down to just under $245,000 last month. It's back up to $248,600 which is a 4.2% increase compared to last November so that's great news.
The most popular price point was $200,000 to $250,000 price range and there were 912 home sales at that price point. On average, it took about 26 days to find a buyer which was 16% faster compared to last November. Another price point was the $300,000 to $400,000 price point and it took a little bit longer to find buyers in that price point last month. On average, it took 36 days which was 16% slower compared to last November. Another price point is the $400,000 to $600,000 range and it was pretty quick to find buyers at that price point. It was only 26 days which was 30% faster compared to November 2018.
I hope you find this information valuable. If I can answer any real estate questions at all, please don't hesitate to reach out.
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