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

For the last couple of months, I have been posting the housing market statistics for the Tampa Bay area and trying to analyze the trends. The August post based on July’s statistics showed a decline in sales but at closer scrutiny, the seasonal trend was consistent with previous years (What’s Happening With the Tampa Bay Housing Recovery?).

So, what do the August numbers indicate? The number of houses sold in August is 1585… up slightly from the 1538 sold in July. The average sales price is down to $162,269 from $164,331. Inventory is also down to 14,392 from 14,820. There is currently a 9.1 months inventory down from 9.4 last month. The positive note here is again the steady decline in inventory month over month which will lead to a more balanced market.

You may see some articles indicating a decline in the number of houses sold at this time last year. I feel it is a bit misleading. Although true, there are fewer houses to sell. Inventory last year at this time was 9.9 months.

Another thing you may want to note is the average sales price. Although it is down from the previous month, at $162,268 it is higher than the average sales price of $150,041 in February of this year.

The Tampa Bay housing market isn’t all doom and gloom. Challenging? Yes. It is still a good time to buy and not such a bad time to sell.

If you’d like statistics and analysis of your particular zip code or subdivision or have any question at all, just let me know.

Stay tuned for September statistics on the Tampa Bay area.