South Tampa Real Estate Market Report | 12/30/18 - 01/05/19
For the sake of establishing baseline data for future market reports, I've prepared inventory levels as of January 1, 2019 for the various property classes we track throughout the year:
- Single-Family Homes Under $1M - 4 months of inventory
- Single-Family Homes Over $1M - 6 months of inventory
- Condos - 3 months of inventory
- Townhomes - 4 months of inventory
Of particular interest is the South Tampa Luxury Home Market ($1M+) beginning the year as a "neutral" market...meaning that it's neither a buyers' market nor a sellers' market. This is a significant change from October '18 when that same market segment, with 11 months of inventory, was clearly a buyers' market. It will be interesting to see if the expected influx of inventory during the spring season shifts the market again. Interest rates seem to have steadied for the time being making the prospect of purchasing more appealing to buyers. Have a great week!