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July 2007 New Tampa Real Estate Report

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There continue to be some positive signs in the New Tampa real estate market. A recent article in the Wall Street Journal showed Tampa, Florida as one of only four metro areas with declining home inventory.
 
In New Tampa, despite a close to 12% drop in sales from July 2007, compared to July 2006, home inventory is down from 943 homes in June to 913 homes in July. There was a 6 % drop in the average home price, compared to 3% gain in July. Although I have to admit, I was surprised to see even such a modest gain in the price of a New Tampa Home.
 
For the second month in a row the lowest priced home and the highest priced home in sold in New Tampa were located in the Hunter’s Green community. The lowest priced home was a 1 bedroom, 1 bath condo with 894 sq.ft. The highest priced home was 5 bedroom, 6 ½ bath, 7,851 sq.ft. luxury home located on the golf course.
New Tampa Home Sales for July 2007
  2006 2007 % Change
No. Homes Sold 119 105 -11.8%
Average Sales Price $335,618 $346,733 -3.3%
Median Sales Prices $295,000 $295,000 0.0%
Average Days on Market 90.6 122.5 35.2%
Lowest Sales Price $135,000 $95,000 -11.8%
Highest Sales Price $1,875,000 $1,625,000 -13.3%

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

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