New Tampa Real Estate Report for May 2007

Similar to the rest of Florida, the New Tampa real estate market continued its poor performance in May. Probably not a big surprise to anyone who's been tracking the housing market, which thanks to newspapers, magazines, television stations, radio stations, media wires, internet portals, internet forums, and the thousand of blogs, like this one, is just about everyone.

First the good news, hmm let's see? Well, it rained last weekend, which for those living here, was a welcomed weekend event.  Alright, the rain is not the only good news, May 2007 homes sales are a 15.6% improvement over April's figures of 64 homes sold.  Although one month does not constitute a trend, it's worth watching as we continue through the summer months.

Now the bad news, the average price of a New Tampa home was down 7.6% in May 2007 and overall sales were off 42.6%.  Homes continue to stay on the market longer, with the average days on market increasing to 109 days.

For those curious the lowest priced home sold in New Tampa in May, was a 1 bedroom, 1 bath, 900 sq.ft. condo in The Highlands in Hunter's Green. The most expensive New Tampa home was a 5 bedroom, 4 bath, 4,600 sq.ft. home in The Reserve at Tampa Palms.

Finally, if you're a buyer in New Tampa right now you're in a great position.  There are plenty of homes to choose from, with a current inventory of a 1,001 homes for sale in New Tampa, compared to 907 in March of this year. 

All data taken from the Greater Tampa Association Realtors MLS and deemed reliable, but not guaranteed.

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