Listing Price Averages Rise as Average Sales Price Drops

Real Estate Agent with McBride Kelly and Associates

Is this a trend that will continue in the greater Tampa Bay market?  Only time will tell.  What does this mean? You can cut statistics up in any way you want to manipulate the results you are looking for.  I have gathered by this information that property values may have started to stabilize and year-to-date sales averages are being supported by lower valued homes being sold. The increase of short sales and foreclosures sales would be more than an enough to keep sales averages down from this year to last. Sales frequency has dipped slightly so the lack of homes sold can't be much of a contributing factor to the decrease in average price.  Don't over look the ability to turn the these foreclosures into some money earning potential. Your first home buyer today might be your luxury home buyer tomorrow.  Building relationships within the community can only strengthen your imagine in that community, even if the payout is toward the lower end.

Comments (1)

Michael Janik
Island tradition Properties - Cocoa Beach, FL

I am located in Cocoa Beach and we see the same statistics.  We have a lower median sales price of homes but our home sales are up from this quarter last year.  We are seeing more homes sold but sold at lower prices.  But hey, at least we're selling right?

Jul 25, 2011 06:08 AM