A Realistic Look At Home Sales In Tampa

During a previous Tampa real estate market report, we found that the number of home sales today was very similar to the numbers that the market experienced during the height of the housing market explosion. Knowing that many home sellers are having a difficult time finding a buyer, I decided to take a closer look.

A recent graph published here at the Central Florida Real Estate Site showed the reason that sales looked so bountiful. Homes priced below $100K are on fire, as many distressed properties are being liquidated by lenders and asset management companies. This caused me to take a more focused look at the Tampa housing market. The following real estate graph shows a more realistic view of home sales in Tampa.

Tampa Home Sales Report Image

When we remove home sales in Tampa priced below $100,000, the drop in the market is far more apparent. As home values keep sliding, $200K homes become $175K dollar homes, $175K homes become $150K homes, etc. The big drop in homes priced $200K to $300K (green in graph) is very evident and shows that the value of median priced homes has fallen. Fewer and fewer homes are selling in this price range, and we should expect to see this trend continue until the market is cleared of the bulk of distressed properties.

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