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Tampa Market Conditions Report… Advantage: Buyer
August 14th, 2007 categories: Tampa Real Estate, Tampa MLS, Tampa Market Conditions
For the first 6 months of this year I was posting a weekly report on the Tampa real estate market conditions focusing on the supply of homes for sale in Tampa as opposed to the number of listings under contract. After things began to stabilize in June, I figured I switch to reporting on a monthly basis. Here’s this months report:
Supply
As #1 in the chart above shows, we had a pretty steep increase in the number of active home listings through May when things began to stabilize somewhat. Today the number of homes for sale in Tampa stands at 8957, very near the level it was back in mid-June. Summary: Stable
Demand
As #2 in the chart above shows, the number home listings under contract has fallen recently. Seasonally, this is to be expected. At this time last year there were about 2000 listings under contract in Tampa. Summary: Low and slowly falling demand. Again, there is a seasonal component here. Home sales usually fall off in late summer-fall.
Difference
As #3 in the chart above shows, the difference between the number of active listing (supply) and the number of pending listings (demand), is the greatest it has been all year, and the greatest it has been since I started posting these reports back in early 2006. Summary: Big gap between buyers and sellers right now, a standoff if you will.
If it’s not obvious, this all points to ADVANTAGE: BUYER
Data used is from the Mid-Florida Regional MLS where city = Tampa
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