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South Tampa 33629 Market Report
December 13th, 2007 categories: Tampa Market Conditions, South Tampa Neighborhoods
Zip code 33629 is home to such south Tampa neighborhoods as Bel Mar Shores, Bel Mar, Palma Ceia, Palma Ceia Park, Virginia Park, Maryland Manor, Culbreath Isles, Sunset Park, Culbreath Bayou, Golf View, Parkland Estates, etc. These are some of Tampa’s more desirable neighborhoods.
I had a client recently ask how that zip is doing with regard to home prices. I told him that for the most part, 33629 is holding its own, the downside has been limited. But as with all clients, I wanted to give him some hard numbers to back up my take on that market. So I figured those numbers would be good material to share.
In all of 2006, 33629 had 299 sales of non-waterfront, single-family homes. The median sold price in 2006 was $433.5k. Prices ranged from $175k to $3.8 million.
In 2007 (through December 12th 5pm) there were 249 sales of single-family homes, excluding waterfront properties. That’s about 83% of the sales volume of 2006. (Citywide, sales are running at about 60% of 2006 levels.) Median sold price has been about $431k to date with only 19 days left in the year. That’s less than a 1% drop in the median price of a single family home sold in 33629 for 2007 as compared to 2006. Sold prices YTD have ranged from $170k to $2 million. Average sold price was down by just around 1% as well.
So yes, zip 33629 has been fairly stable with regard to prices of sold single family homes. But there are currently 326 of those same homes on the market looking for someone to love them. That’s well over a year’s supply, at least with regard to 2007 demand. Foreclosures and short sales are relatively limited in this zip code to date.
Lumping all single family homes in one zip is still quite a generalization, but it does give us an overview. A more specific subset of those homes, in a more specific area, may very well show larger declines in sales and prices. But overall, 33629 has had limited downside to date.
Data used is from the Mid-Florida Regional MLS, all agents/brokers included. Data does not include most private, non-brokered sales.
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