Profile picture for Julieth

Do house prices in Tampa still falling?

  • December 23 2009 - Ballast Point
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Answers (3)

Profile picture for bhtampa
seem to have hit bottom in most Tampa city neighborhoods
  • February 22 2010
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Profile picture for Mark LeMenager
Lisa's numbers are nice, but they don't come close to telling the real story.  What is need is to break the market up into it's component pieces - Bank owened, short sales, and normal and look at the trands of each.  Each sector has siginificantly different sales prices and thus the overall average price will depend most on what the weights of the three sectors are.  Here in Cetntral Florida it's pretty clear that prices quit falling a while ago.  I guessing the same may be true in Tampa as well, but I don't have the numbers.

Go ahead, take the plunge.  There'll never be a better time to buy than now. 
  • December 26 2009
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Julis

House prices in Tampa Bay according to the Greater Tampa Association of Realtors statistics Have been what I call "bouncing the bottom" since January 2009 (using the average sale price) as follows:
January-   160,775
February- 158,032
March- 165,292
April-    154,126
May-    162,560
June-   170,160
July-    176,411
August-    164,775
September- 164,929
October-  156,320
November-  164,385
Unlike January 2008-October 2008 when average sale prices were dropping 10-20,000 per month, 2009 has seen a stabilizing of prices.  Remember the media is behind the market, and the market is behind the indicators.  The "smart money" jumped in the market last year and negotiated huge discounts, which drove prices down quickly.  Tampa Bay has gone from a 25 month  inventory to just an 8 month supply since January of 2008.  The traditional marker for a switch from a "buyers market" to a "sellers market" is the 6 month inventory indicator.  If you are a buyer, don't wait for the media to tell you when to jump . . . It will be too late!
Lisa Spencer
Broker Associate, CRS, GRI,e-Pro
Keller Williams Realty

  • December 23 2009
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