2006 South Tampa Real Estate Report
Posted Jan 28, 2007 @ 4:53 pm, Viewed by 717 Visitors, Read 734 Times.
Despite a 40% drop in sales, the South Tampa real estate market posted strong price gains in 2006, with the average residential sales price rising 18%. South Tampa remains the preeminent location in the Tampa area, and its home prices show it, with an average single family home going for $537,648 in 2006. Overall inventories remain high with 1,861 active residential listings in South Tampa, search South Tampa Real Estate.
The South Tampa townhome market posted similar results, with townhome sales down 36.6% and the average price of a townhome rising 14.1%. There are currently 341 active townhome listings in South Tampa.
South Tampa Condos saw the biggest sales drop, with condo sales dropping almost 50%. Although the average price of a condo was up about 10%, the median price of a condo dropped slightly by 1.7%. There are a number of condominium complexes being develop in downtown and South Tampa, so look for inventories to remain high in 2007. There are currently 621 active South Tampa condo listings.
South Tampa Residential Sales for 2005 and 2006
| 2005 | 2006 | % Change | |
| No. Homes Sold | 3,469 | 2,068 | -40.4% |
| Average Sales Price | $360,775 | $425,947 | 18.1% |
| Median Sales Prices | $280,000 | $312,250 | 11.5% |
| Average Days on Market | 74.5 | 77.3 | 3.8% |
| Lowest Sales Price | $43,000 | $71,000 | 65.1% |
| Highest Sales Price | $3,875,000 | $5,175,000 | 33.3% |
South Tampa Single Family Home Sales for 2005 and 2006
| 2005 | 2006 | % Change | |
| No. Homes Sold | 1,388 | 946 | -31.8% |
| Average Sales Price | $460,168 | $537,648 | 16.8% |
| Median Sales Prices | $339,000 | $395,000 | 16.5% |
| Average Days on Market | 63.8 | 71.6 | 12.3% |
South Tampa Condo Sales for 2005 and 2006
| 2005 | 2006 | % Change | |
| No. Condos Sold | 1,566 | 800 | -48.9% |
| Average Sales Price | $276,752 | $306,247 | 10.7% |
| Median Sales Prices | $248,945 | $244,750 | -1.7% |
| Average Days on Market | 72.2 | 86.8 | 20.2% |
South Tampa Townhome Sales for 2005 and 2006
| 2005 | 2006 | % Change | |
| No. Townhomes Sold | 500 | 317 | -36.6% |
| Average Sales Price | $348,329 | $397,592 | 14.1% |
| Median Sales Prices | $318,500 | $352,000 | 10.5% |
| Average Days on Market | 109.4 | 79.4 | 27.4% |
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Hi, let me introduce myself, I’m Calum MacKenzie. My wife Kathy and I are Tampa real estate professionals who take our business seriously… okay, so sometimes I’m not so serious, but definitely personally. Read More
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