Low End Market Booming In Tampa

By
Real Estate Agent with Joe Manausa Real Estate 8508880888
https://activerain.com/droplet/k4D

Our in-depth study of the Tampa housing market has led me to pursue a more thorough understanding of “why” the Tampa real estate market appears to be rebounding faster than the rest of the State of Florida. Today’s two real estate graphs shed some light on the two faces of the Tampa real estate market.

Home sales in Tampa have been returning to levels seen before the boom of the housing market 8 years ago. When we perform a price range analysis, we see which zones are most active now and contrast them with what we observed as far back as 2006.

Tampa Home Sales

The two yellow highlight comments in the graph provide a very clear image of what is going on in the Tampa real estate market. One the left, we see that very few properties sold in 2006 below $100,000. On the far right however, we see that nearly 1/2 the market is homes priced below $100K. I suspect this is a sign of distressed properties clearing the market to investors.

So if you own a home in Tampa, or even have a home for sale in Tampa, follow your price range from left to right. Let’s say, for example, you have a home valued between $200,000 and $300,000. The green slice of the graph shows your price range was roughly 30% of the market in 2006, and today it is about 5% of the market. The number of sales in your price range has dropped substantially, and this mirrors what we are seeing in much of the rest of Florida.

But I was also curious to see what the "market" would look like if we omitted all home sales below $100, and the following graph makes the resulting Tampa real estate market start to look like the rest of the State of Florida.

Home Sales By Price Range In Tampa

This graph shows that the current rate of home sales in Tampa is at about 1/2 of the level found at the peak of the housing market. We know (from our recently posted Tampa Housing Reports) that homes above $250K are still very much in a buyer's market due to the glut of supply, so like the rest of the State of Florida, Tampa is going to require some time to reach market equilibrium at all price points.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Florida Hillsborough County Tampa
Groups:
Realtors®
The Lounge at Active Rain
Market Reports
Bananatude
30 Days In September 2011 Localism Posting Challenge
Tags:
tampa
tampa real estate
tampa housing market
tampa mls
tampa housing
tampa housing report

Spam prevention
Show All Comments
Rainmaker
334,844
Art Welch
Superstars Realty - Buckeye, AZ
Broker

Low end is booming here also.  Do you find the newer homes are moving faster than older?

Sep 22, 2011 02:40 PM #1
Rainmaker
559,979
Ken's Home Team LLC. | 360.609.0226 | Portland, OR & Vancouver, WA Real Estate Team
Ken's Home Team LLC. - Vancouver, WA
- SOLD IS OUR FAVORITE 4 LETTER WORD -
What a great graph, how did you do that?
Sep 22, 2011 02:40 PM #2
Rainmaker
1,162,483
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

I'm not tracking age Art, but price point is critical. Once it gets to $250, the brakes are stomped.

Sep 22, 2011 02:42 PM #3
Rainmaker
1,162,483
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Thanks Ken, you just gotta have and use MS Excel!

Sep 22, 2011 02:42 PM #4
Rainmaker
631,143
Mike McCann - Nebraska Farm Land Broker
Mike McCann - Broker, Mach1 Realty Farmland Broker-Auctioneer Serving Rural Nebraska - Kearney, NE
Farm Land For Sale 308-627-3700 or 800-241-3940

Joe...Lower end pushes sellers into the next level and those into the next level so that is great news for your area! And yeah...great fun graphs...MS Excel?  I never knew....

Sep 22, 2011 03:15 PM #5
Rainmaker
1,162,483
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

THanks Mike, I agree, and with time, all the glut will get consumed. And yes, take a good look at MS Excel ...

Sep 22, 2011 11:14 PM #6
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
1,162,483

Joe Manausa

Tallahassee Real Estate
Looking for Tallahassee Real Estate?
*
*
*
*
Spam prevention

Additional Information