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Although overall sales were down, the South Tampa real estate market had price gains of 20.7% in February 2007, when compared to February 2006.  The overall gain was driven up primarily by a group of high end condominium sales that closed in February. Condo sales actually showed gains of 80%, while single family homes gained 10%, and townhome sales were down 15%.  For a full report on single family homes, condominiums and townhomes, see South Tampa Home Sales for February 2007.   There are currently 946 South Tampa Homes, 648 South Tampa Condos, and 358 South Tampa Townhomes on the market.

South Tampa Residential Sales for February 2007   2006 2007 % Change …

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According to a University of Florida study released last Friday, the single family home market in Florida is probably at the bottom, and if you've been waiting to buy a home now is the time to act.

The study shows buyer optimism, which was down for the first three quarters of 2006 and flat for the 4th quarter, has started to pick-up in the first quarter of 2007.  Althought the study is encouraging for single family home sales, it states that the condo market may still be declining.

Read the full article here.

Read the full study here.

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Wesley Chapel real estate seems to be holding its ground relative to the rest of the Tampa Bay market.  While February sales were off in other Tampa markets, Wesley Chapel stayed even in February 2007, compared to February 2006.  There was a slight 4.4% decrease in the average home price.

Inventory remains high with 1,100 Wesley Chapel listings, although this is only slightly ahead of my last post on February 22nd when there were 1,089 active listings.

Wesley Chapel Home Sales for February 2007   2006 2007 % Change No. Homes Sold 88 89 1.1% Average Sales Price …

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The New Tampa real estate market was down in February, with sales down close to 16%, compared to February 2006.  The good news is that February sales are ahead of January sales by 30%. Prices were only off by l%, inventory remains high with 907 active New Tampa listings, which is up from 877 listings on February 13th.

Further good news came from the University of Florida study released on March 9th, see Now's the Time to Buy in Florida.

New Tampa Home Sales for February 2007   2006 2007 % Change No. Homes Sold 76 64 -15.8% Average Sales Price $330,777 …

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 Wesley Chapel Real Estate sales fell 34.8% in January 2007, compared to January 2006. The average home price declined 2.1%, while the median price declined 6.3%. The average days on market rose 44.3% to 78 days.

  There are currently 1,089 active Wesley Chapel listings, which represent about a 19 month supply based on January’s sales. This high inventory level means it’s still a buyers market and there are number of great opportunities for buyers in some of Wesley Chapel’s top communities including Meadow Pointe, Seven Oaks, and Lexington Oaks just to name a few.

Wesley Chapel Residential Sales for January 2007

  2006 2007 % Change No. Homes…

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Residential home sales in the South Tampa market declined 8.5% in January, compared to the same period last year.  The average price of a South Tampa home fell slightly by 3% and the median price fell 7.1%.   There are currently 911 South Tampa Homes, 641 South Tampa Condos, and 371 South Tampa Townhomes on the market. Based on January’s sales figures this represents close to a 15 month supply of homes.

South Tampa Residential Sales for January 2007

  2006 2007 % Change No. Homes Sold 141 129 -8.5% Average Sales Price $394,910 $383,201 …

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New Tampa real estate continued its trend, with home sales down 46% in January 2007 compared to January 2006.  The average price of a New Tampa home rose slighty by 1.9% to $346,816.  Although prices seem to be holding,  homes are taking longer to sell with the average days on market climbing to 109 days in January 2007, ahead of the 43 days it took to sell in 2006.

Inventory remains high with 877 active listings in New Tampa, which is up fom 858 listings on January 19th.

New Tampa Residential Sales for January 2007

  2006 2007 % Change No. Homes Sold 91 49 -46.2% Average Sales…

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The Arbor Greene real estate market finished down in 2006 with total home sales down 43%.  The average price of an Arbor Greene home rose 7.6% to $417,334, while the median price of an Arbor Greene home held steady at $365,000.

Of course the big news for Arbor Greene residents in 2006 was the long awaited expansion of Cross Creek Blvd. to 4 lanes and the addition of a traffic signal at the entrance to Arbor Greene.  Although construction is still not complete, it is apparently on schedule to be completed by May of this year.

There are currently 62 active Arbor Greene listings with a price range of $245,900 to $759,900. 

Arbor Greene Residential Home Sales for January 2007 

  2005 2006 …

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