July 2007 New Tampa Real Estate Report
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.
|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.