Tampa Real Estate Inventory Report October 2011

With just under 10,000 homes for sale in Tampa currently listed in the Tampa MLS, buyers have many choices to review when they go shopping for a home in the higher price ranges. But homes priced below $350K are actually fairly competitive for buyers, while homes above $500K have so much supply that it will take years for the market correction to finish.

The real estate graph below shows recent sales and current listings by price range in the Tampa MLS, through September of 2011.

Tampa Housing Market Graph

The red bars measure the number of homes currently on the market in Tampa, while the green bars shows the number of homes sold in Tampa in September 2011. The blue line is the measure of relative supply of homes based upon the past year’s number of homes sold in each price range. Note the yellow shaded area which represents the level each price range needs for equilibrium. Interestingly, homes priced below $120K are in a seller’s market, while price ranges above $350K point are still in a buyer’s market.

Some of the homes between $80K and $350K register at a relative supply level that would be considered “normal” or balanced. All other price ranges are at levels that demonstrate a a market that favors a side. Note how the blue line explodes after $500,000! When we see relative supply exceed 1 year and two years and three years, home sellers in those price ranges need to gain a better understanding of their current home value and what is going on with their competition.

You can stay current on the Tampa housing market by saving this link to Tampa real estate market reports.

Leave a Comment

Previous post:

Next post: