For the most part the Wesley Chapel real estate market is tracking similar to other Tampa Bay markets. There continue to be declines in year-to-year comparison, sales for June 2007 are down 31% compared to June 2006 and the average price of a home has declined 7% for the same period. The good news is inventory is down slightly, in March there were 1,120 active listings in Wesley Chapel, compared to the 1,075 active Wesley Chapel listings today. Although not a drastic difference, it’s going in the right direction, if you remember at the beginning of the year inventory was actually increasing.
As I’ve mentioned in a number of my other posts, see Tampa #1 Buyer’s Market and The Doom Sayers vs. the Silver Lining, this is starting to look like a great time to buy. If you’re a buyer that’s been waiting for the right time this is it; home prices are down, inventory is high, and Tampa’s overall economy is positioned well for a great recovery with strong job growth in great industries like the bio-tech field.
Click here for more on the Wesley Chapel real estate market.
Wesley Chapel Home Sales for June 2007
|No. Homes Sold||138||95||-31.2%|
|Average Sales Price||$279,861||$259,525||-7.3%|
|Median Sales Prices||$264,825||$240,000||-9.4%|
|Average Days on Market||72.9||110.2||51.0%|
|Lowest Sales Price||$70,000||$45,000||-35.7%|
|Highest Sales Price||$665,000||$735,000||10.5%|
All data taken from the Greater Tampa Association Realtors MLS and deemed reliable, but not guaranteed