Tampa Homes — Both Sales Volume and Average Sales Price Rose in December

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

Both the sales volume and average sales price of Tampa homes increased in December 2011 month-over-month. Based on data released by the Greater Tampa Association of Realtors, the total number of single-family homes, villas, townhomes, condos and co-ops sold in Greater Tampa in December 2011 was 1,756 units, an increase of 12.64 percent from the 1,559 units sold in November 2011. The average sales price also increased year-over-year, by a rate of 3.5 percent to $159,707 in December, but the sales volume dropped by 7.5 percent.

Housing inventory continued to decline, as the December inventory of 9,328 units was 10.6 percent lower than the previous month’s inventory. The total of 9,328 meant a supply of 5.3 months, lower than the November supply of 6.7 months. Compared to the year 2008, when the December inventory equaled 15 months of supply or 20,098 units for sale, the decrease in housing inventory over the three-year period was a significant 54 percent, more than one half.

Of the 1,756 housing units sold in December, 1,309 or 74.5 percent were single-family homes, 2,895 units were condos, 2,039 were townhouses, 558 units were mobile homes, 490 were villas and 69 units were half duplexes. The rest were planned unit developments, modular homes, and co-ops.

For the whole year of 2011, these were the sales performances of the different types or styles of homes:

Single family homes	16,330	72.8 %
Condos	2,895	12.9 %
Townhouses	2,039	9.1 %
Mobile homes	558	2.5 %
Villas	490	2.2 %
Half duplexes	69	0.3 %
Planned unit developments	29	0.1 %
Modular homes	12	0.05 %
Co-ops	6	0.03 %

Of the 1,756 Tampa homes sold in December 2011, 306 units were in the price range of less than $50,000. This price range has always had the highest sales volume because this meant sale of investment homes to investors often buying in bulk. Among owner-buyers, the $200,000-$250,000 price range was the most popular, which was also the most popular in November and in other months. Next was the $120,000-$140,000 price range and third was the $100,000-$120,000 range. There were 14 units in the over-one-million-dollar price range that got sold.

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