Real Estate Sales Highest Since April 2006

Published by peter | Filed under Market Trends

Realtors reported 1,429 sales in Hillsborough County and part of Pasco County in April, the highest number since April 2006. Sales stood at about 1,200 in the same month in 2007 and 2008.

Inventory of homes for sale on the MLS dropped to 16,127, a 11.3 month supply based on April’s sales pace. That’s the lowest inventory in about 3 years, though still too high.

Foreclosure homes make up a big portion of sales. That’s reflected in the average sales price of $157,000. A year ago, the average price was $222,000 - a 29 percent annual drop.