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Weekly Tampa Real Estate Market Conditions Report
May 11th, 2007 categories: Mortgage Rate Watch, Tampa Florida Real Estate, Tampa MLS, Tampa Market Reports
The number of active MLS home listings in Tampa jumped slightly over the last week while the buying activity did likewise.
In the last 7 days 132 properties went under contract, while 85 sales closed.
In Hillsborough County, there are 15,941 residential properties listed as of this morning (5/11/07). At the end of March, there were 13,426 residential properties listed for sale in Hillsborough County according to a local report from NAR, whose forecast for Q2 of 2007 is for decreasing inventory, increasing sales and an increase in the average home price. Almost 6 weeks into Q2, this has not been the case.
But Q2 is usually a busy season for Tampa real estate and the sense on the street is that many of the fence-sitting, tire-kicking home buyers are beginning to become more motivated as price reductions have become more prevalent and interest rates remain low.
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[...] This was a quote from one of the respondents, and I’m sure that this is the general feeling among the majority. Inventory has been on a steady increase as noted in our weekly Tampa real estate market conditions report. [...]