$200K-$250K Homes for Sale in Tampa Are the Most Popular

Published by nora | Filed under Buyer / Seller Tips, Market Trends, Real Estate

Homes for sale in Tampa within the $200,000 to $250,000 price range were the most popular among owner-buyers in Tampa in October and in most other months this year, according to charts released by the Greater Tampa Association of Realtors (GTAR). This price range peaked in popularity in August with 164 units sold, about 15 percent more than the second most popular price range, which was the $$100,000 to $120,000 range.

The lowest price range – the below-$50,000 range – actually had the most sales in October and all through January to October, but the residential units in this range are usually investment homes, the ones mostly purchased in bulk for quick resale or for improvement and future resale.

From January to October, a total of 1,298 single-family homes for sale in Tampa priced within the $200,000 to $250,000 range were sold. The popularity of this relatively high price range is a significant news item, as this bucks the perception that home prices in the Tampa area and the rest of Florida suffered among the sharpest drops in the country.

Although the median price in Tampa is not within this $200,000 to $250,000 range, this most popular price range is a positive indicator for the Tampa real estate market. It’s far above the national median price for single-family homes sold in October. According to a recent report from the National Association of Realtors, the median price for existing single-family homes sold nationwide in October was $161,600 and the median price for housing units sold in the South, where Tampa is located, was $145,700.

The other price ranges with the second, third and fourth highest sales were also relatively high. These were the price ranges of $120,000 to $140,000, which had sales of 1,289 units; $100,000 to $120,000, which had sales of 1,277 units; and $140,000 to $160,000, which had sales of 1,149 units.

The GTAR report for January to October 2011 also had numbers showing improvements in the Tampa real estate market. Houses with three bedrooms were the most desired, as a total of 7,954 three-bedroom units were sold, accounting for almost 42 percent of all home sales. Four-bedroom homes accounted for 25.5 percent while two-bedroom homes accounted for 23.3 percent of sales. The two-bath feature is important to homebuyers, as houses with two bathrooms were the most desired, accounting for 65 percent of all sales.

Lastly, the GTAR October 2011 report also showed the continued desirability of homes for sale in Tampa, as the city’s housing inventory dropped to its lowest inventory level in years, falling by 55 percent from 21,777 units in November 2007 to 9,857 units in October 2011.

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