Tampa Palms, Westchase, Carrollwood and Tampa Bay Real Estate News From Jeanne Prigitano

Last month I said that I felt, and the statistics seemed to support, that the Tampa Bay area was headed for a housing recovery. If you listen to the media, they will have you thinking that the recovery has started to stall. Are the numbers down from March? They are but it is important to look at them more closely.

I’m not always sure what sources the media is using but I use the same source every month – Florida Regional Multiple Listing Service and The Greater Tampa Association of Realtors. By using the same source month after month, trends are easier to observe. I still believe that the numbers are very promising.

So, here we go. April 2011 sales were down by almost 12% from March 2011. However, sales are still higher that the same month last year and over 14% higher year to date.

What are the most startling and encouraging numbers are the price points where we are seeing the greatest increase. Houses listed at over a million dollars have doubled in sales from the previous month. Houses below $300,000 have all decreased in sales from the previous month (with the exception of the $50,000 - $59,999 price range) while those over $300,000 have increased. The average sales price increased from $139,622 in March to over $150,000 in April. Inventories are down and months inventory is still at a low 6.2 months.

Why is that encouraging? It points to the fact that sales are not just by investors scooping up bank-owned properties. Homeowners are back in the market. My sales last month were conventional sales – not short sales or bank-owned. That is so important if we want to see a true recovery and stabilization of our neighborhoods. Welcome to the new normal in the Tampa Bay area.