Tampa Bay Real Estate Market Update | March 2020
I have your Tampa Bay real estate market update. The Florida REALTORS® recently released stats for real estate in February 2020. This is for Pinellas, Pasco, Hillsborough, and Hernando counties single family home sales. We realize that a lot has changed since February with the virus going on. The virus is more than likely going to have an impact on real estate. So we are watching that closely. But I still wanted to put together some market stats for February so we know where we started before this virus happened, so we can use it as a comparison moving forward.
In February this year, the median sales price was $252,000 in our area. That's up about 7% compared to February 2019. That's one of the highest numbers we've seen in the last 12 months. So that's great news.
It took about 38 days to have homes go under contract. That's a decrease compared to last February which was 46 days. However, when you look back at the last several months, it did go up a little bit, because we were experiencing some lower numbers there in that category the last few months.
Active listings dropped majorly, about 25% compared to last February. We were at under 9,000 active listings on the market at the end of February. So inventory still continues to be extremely low.
We're going be watching all these numbers closely in the coming weeks, so make sure to stay tuned, and subscribe to our YouTube channel, to stay in touch with how the coronavirus is impacting the real estate market in our area.
If we can answer any questions, please feel free to reach out. Have a great day!