When I started tracking the numbers of active home listings in Tampa nearly a year ago, there were 5374 of them available. Since then it’s been a steady upward climb with very few dips downward. As of February 16th, 2007 there are 7925 active listings of residential properties in the City of Tampa, an increase of 70 units over the previous week. There were 2519 properties under contract about a year ago, while today that number hovers around 1590, a steady decline for sure.
So supply continues to out gain demand once again. Business is great for the sign post installers, lock box manufacturers and home staging professionals. But there are buyers out there, just not many of them. From 2/9/07 to 2/16/07,123 properties went under contract to be purchased. So what are buyers agreeing to buy? Here are some interesting numbers to consider:
- Average list price: $260,590
- Average Bedrooms: 2.98 (let’s call it 3)
- Average Baths (Full) 1.87
- Average Size: 1607sqft
- Average Cumulative Days on the Market: 138.5
- Only 11 properties listed at more than $500k went to contract.
- Only 18 are condos
Data used is from the Mid-Florida Regional MLS, city=Tampa, and does not include non-brokered properties.