FishHawk Ranch Real Estate Market Stats March 2014 | Lithia Florida
Below is a breakdown of the FishHawk Ranch (Lithia, Florida) real estate market for March 2015.
These market statistics are for single-family homes only.
Current Inventory Levels for the Month Ending March 2015
- There are currently 123 Active FishHawk Ranch homes for sale up from 118 in February 2015 and 105 in January.
- The median List Price Per Square Foot for homes that are Active For Sale is currently $128.25.
- Over the last 6 months 139 homes have Sold and Closed. That is down from 152 for the previous 6 months ending February 2015 and down even further from 176 that Sold and Closed the previous 6 months from January 2015.
- Over the last 6 months the median Sold Price Per Square Foot was $119.71 down from $120.05 for the previous 6 months ending February 2015.
- Median Days on Market for March 2015 was 70 days, the same as February 2015.
- Supply or backlog of homes for March 2015 was 5.3 months. Once again this was up from 4.7 months in February 2015, 3.6 months in January 2015 and up from a 2.9 month supply in December 2014.
Activity for March 2015 vs March 2014
- In March 2015 there were 18 homes that Sold and Closed vs 26 in March 2014.
- The median List Price Per Square Foot for the homes that Sold and Closed in March 2015 was $123.94 vs $113.95 in March 2014.
- The median Sold Price Per Square Foot for the homes that Sold and Closed in March 2015 was $119.95 vs $113.07 in March 2014.
- The median Days on Market for the homes that Sold and Closed in March 2015 was 25 days vs 75 days in March 2014.
Pending Contracts for March 2015
- In March 2015 there were 42 homes that are in Pending Contract status. In February 2015 there were 20.
- The median List Price Per Square Foot of the homes that are in Pending status is $130.85 vs $121.51 in February 2015.
Current Mortgage Rates
Mortgage rates are still historically low. Current mortgage rates for a 30 year fixed rate mortgage are still hovering around 3.90%. From the last Fed meeting it sounds like the Fed Funds rate will be left unchanged for the next couple of months. Most economist are now predicting that the Fed will raise interest rates in or around September. Keep in mind that these rates may not have a direct effect on mortgage rates, it does however start to put some pressure on mortgage rates and my guess is you will start to see them rise a bit heading toward the end of the year.
Fannie Mae now offers a program that allows for as little as a 3% down payment.
Market Analysis and Outlook
The FishHawk Real Estate market seems to be fairly stable. The current months supply or backlog of homes in FishHawk Ranch did increase again to 5.3 months but the Pending homes for sale also jumped as well.
The number of homes sold in FishHawk Ranch over the last 6 months has still been trending down. In October this number was 205 and in March it was 139. There is no question that less homes are selling and closing every month. This would start to be concerning except that the Pending sales had a big jump this month.
Price Per Square Foot of Sold homes stabilized in March. It looks like the February drop to $112 Per Square Foot may just have been from a holiday hangover. In January this number was around $122 and in March it rebounded back to just under $120 Per Square Foot.
With interest rates at historical lows and as balanced of a market that I have seen in about 9 years this looks to be a stable market for the foreseeable future.
Related Real Estate Articles
- FishHawk Real Estate Market Stats February 2015
- The One Item Needed to Sell Your Home For Top Dollar via Inman News
- How Much Is Your Home Worth?
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About the author
The above FishHawk Ranch real estate article “FishHawk Ranch Real Estate Market Stats March 2014 | Lithia Florida” was written by Jeff Gould.
Jeff is a top selling, nationally recognized Florida REALTOR® and local FishHawk Ranch real estate expert. You will find him selling homes in the Tampa Bay, Florida and surrounding areas. Some of those areas include FishHawk, Lithia, Riverview, Valrico, Apollo Beach, Brandon and Tampa.
If you are looking to sell or buy a Tampa Bay area home, Jeff is your local and trusted professional. He can be reached via phone/text at (813) 421-3007 or by email at Jeff@FishHawkRanchRealEstate.net.
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