This Week In Tampa Real Estate: Supply Outpaces Demand

March 23rd, 2007 categories: Tampa MLS, Tampa Market Reports, Tampa Real Estate

As much I keep expecting to see more sales activity for homes in the City of Tampa, it just ain’t happening. At least it’s not being reflected in the number of pending listings on the MLS. Pending listings are those that are under contract, or those that have found someone who wants them at an agreed upon price. It doesn’t mean it’s a done deal or “sold”, but it’s a start.

There is certainly more buyer activity in the way of e-mail inquiries, phone calls, showings, etc., but those buyers are still taking their time for the most part. And why not? The “nobody else is buying it, so why should I?” mindset is still strong.

The specifics:

Listings in the City of Tampa jumped to 8314 this morning (3/23/07), a new high for at least the previous 12 months. There were 5374 active listings in early March of 2006. And last year at this time there were about 2500 pending listings as compared to 1592 as of today.

What are buyers buying this week?

The average property going under contract this week is a 1751sqft home built in 1982 with a list price of $338k.

And where are they buying?

The 33647 (New Tampa/Tampa Palms) zip has 13 new contracts while zips 33626 (Westchase), 33624 (Carrollwood) and 33610 (map) each has 11 happy sellers.

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Data used is from the Mid-Florida Regional MLS City = Tampa

This entry was posted on Friday, March 23rd, 2007 at 9:10 am and is filed under Tampa MLS, Tampa Market Reports, Tampa Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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