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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… Read Full Post

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…

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 Well 2006 is now behind us and below is recap of how many of the markets finished in the Tampa Bay area. Overall you can see that although sales finished down, prices actually finished up. What the stats below don’t tell you is that inventories remain high in Tampa with over 21,000 active MLS listing across Hillsborough and Pasco Counties. I think we will see downward pressure on prices through the first half of 2007.

The following Tampa Bay MLS stats were taken from the Greater Tampa Association of Realtors MLS. If you'd like to search the Tampa MLS on your own go to, Tampa Bay MLS.  If you’d like a more detailed look at your community please don’t hesitate to contact us.
Brandon Home Sales for 2006   … Read Full Post

Consumer confidence in Florida’s economy fell by 4 points in December. The drop in confidence comes after three months of positive gains. Higher gas prices and a slow housing market are the primary contributors to the decline.   According to the article, Florida’s housing market is expected to continue to slow at least through the first half of 2007, which will continue to put downward pressure on consumer confidence.   Read the full article here.   On a positive note, as long Tampa continues to generate jobs, especially jobs like announced recently in the Merck-Moffitt joint venture, see 170 new Tampa jobs, Tampa’s economic future will remain strong. Job creation is one of the primary forces in driving an economy forward, and the local government… Read Full Post

Sales in South Tampa real estate market were down 44.6% in November compared to the same period in 2005. The average home price was actually up 13.2% compared to November 2005 thanks to single family homes. South Tampa condominium prices were down 5.4% and sales were down 54.4%, while townhome prices were flat and sales were down 50%. Inventories remain high with 1,733 active residential listings.

South Tampa Residential Sales for November 2006
  2005 2006 % Change No. Homes Sold 231 128 -44.6% Average Sales Price $358,307 $405,594 13.2% …

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If you look strictly at the numbers below it would appear that Wesley Chapel seems to be fairing a little better than the overall Tampa real estate market, See Tampa Real Estate November 2006. Although overall homes sales are down 15.9%, prices are actually up almost 4% when compared to the same period last year.    Unfortunately, here’s what the numbers don’t tell you, prices in Wesley Chapel are being buoyed by newer communities like Seven Oaks. As you can see from the numbers below, Seven Oaks is showing significant gains over last year, but Seven Oaks is primarily a new construction community, so many of the homes that actually closed in November 2005, were actually contracted in 2004, at 2004 prices.    Meadow Pointe, which is an older community,… Read Full Post

Pharmaceutical company Merk & Co. and H. Lee Moffitt Cancer Center and Research Institute announced Monday they will create a joint company which will develop drugs for treating cancer. This is great news for the Tampa Bay area as the new company is expected to create 170 high paying jobs, with an average salary of $80,000, and add $1 billion into Tampa’s economy over the next few years.    County officials are hoping the new company, called M2Gen Inc., will spark even greater economic development for Tampa in the bioscience field. Hillsborough County had to lay out $20 million in cash along with the land to the new company in what is its largest economic development package ever.   Read the full story in The Tampa Tribune. Read Full Post

There were 6 home sales in Arbor Greene in November, compared to 4 in November of 2005. There are currently 71 active listings in Arbor Greene ranging in price from $249,000 to $759,900, with a median price of $440,000.   November 2006 No. of Homes Sold = 6 Average Sales Price = $448,316 Median Sale Price = $439,000 Average Days on Market = 79   November 2005 No. of Homes Sold = 4 Average Sales Price = $466,158 Median Sale Price = $500,000 Average Days on Market = 27 Read Full Post