2007 New Tampa Real Estate Report

I’m a little late with my 2007 real estate reports, but it’s been busy start to 2008. So although the 2007 report doesn't look good, let’s hope this recent activity bodes well for 2008. Below are the statistics for the 2007 New Tampa real estate market, which covers all single-family home, tonwhomes, villas, and condo sales in the 33647 zip code. 

The big news in New Tampa in 2007, was construction began on the Bruce B. Downs fly-over to I-75 South. The newly constructed fly-over when complete, will allow New Tampa residents to more safely and efficiently merge onto I-75 South, so those morning rush hour traffic jams will soon be a distant memory. Okay, maybe that’s wishful thinking, but it should be a little better and a lot safer.

Onto the 2007 stats, there are no real surprises here; we all know 2007 was a down year. There was a 34.7% decline in the number of properties sold from 2006 to 2007; 866 homes were sold in New Tampa during 2007. The individual sales price per home declined as well: in 2006, the average sales price was $340,908 for a home in New Tampa, and in 2007, it was a bit lower at $332,920.

The lowest sales price in 2007 was a one bedroom/one bath Hunter’s Green condo for $95,000 (compared to the lowest sale in 2006 at $106, 490) which shows a 10.8% decrease. The highest sale in New Tampa for 2007 was also in Hunter’s Green, an almost 8,000 sq. ft. estate on Longwater Run Drive, sold for $1.625 million, which is a 29.3% drop from 2006.  There are currently 963 active listings in New Tampa, for more info check New Tampa homes for sale.

All data taken from the Greater Tampa Association Realtors MLS and deemed reliable, but not guaranteed.

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