2006 New Tampa Real Estate Report
New Tampa real estate prices managed to gain 2.9% in 2006, despite a 17.8% drop in the number of units sold, while days on market nearly double, going from 35.0 to 68.2.
Single Family homes saw the biggest prices gains with the average price of a New Tampa Home rising 14.9%, they also saw the largest decline in unit sold with a drop of 33.1%. Townhome prices gained 8.3%, while units sold dropped 23.8%.
The New Tampa condominium market saw gains in both prices, up 8.2%, and units sold, up 117.7%. Don't let these number fool you, the New Tampa condo market has been flooded with condo conversions in the last two years. There are now over eight condo conversion projects in New Tampa, of which maybe two have managed to sell out, so there is still a lof of inventory available and plenty of room for negotiation.
Inventories remain high with 858 active New Tampa Listings, which represents about 8 months supply.
New Tampa Residential Home Sales for 2005 - 2006
| 2005 | 2006 | % Change | |
| No. Homes Sold | 1,598 | 1,313 | -17.8% |
| Average Sales Price | $331,284 | $340,838 | 2.9% |
| Median Sales Prices | $297,250 | $292,628 | -1.6% |
| Average Days on Market | 35.0 | 68.2 | 94.8% |
| Lowest Sales Price | $94,000 | $106,490 | 13.3% |
| Highest Sales Price | $1,850,000 | $2,300,000 | 24.3% |
New Tampa Single Family Home Sales For
2005-2006
| 2005 | 2006 | % Change | |
| No. Homes Sold | 1,215 | 813 | -33.1% |
| Average Sales Price | $375,502 | $431,475 | 14.9% |
| Median Sales Prices | $336,500 | $380,000 | 12.9% |
| Average Days on Market | 35.8 | 65.0 | 81.7% |
New Tampa Townhome Sales for 2005-2006
| 2005 | 2006 | % Change | |
| No. Townhomes Sold | 1,215 | 813 | -23.8% |
| Average Sales Price | $203,949 | $220,816 | 8.3% |
| Median Sales Prices | $185,000 | $214,500 | 15.9% |
| Average Days on Market | 36.1 | 76.8 | 112.8% |
New Tampa Condo Sales for 2005-2006
| 2005 | 2006 | % Change | |
| No. Condos Sold | 147 | 320 | 117.7% |
| Average Sales Price | $160,615 | $173,793 | 8.2% |
| Median Sales Prices | $155,000 | $169,990 | 9.7% |
| Average Days on Market | 23.2 | 81.8 | 249.5% |
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Calum
Hi, let me introduce myself, I’m Calum MacKenzie. My wife Kathy and I are Tampa real estate professionals who take our business seriously… oka... Read More
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