South Tampa Real Estate Market Report | 08/25/19 - 08/31/19
I’ve got your August '19 South Tampa markets stats: August '19 averages across all price points are $502,642 (average sale price); $246.81 (average sale price per square foot); and 63 (average days on market). Compared to August '18, average sale price increased 10.45%, average sale price per square foot increased 3.75%, and average days on market increased a stunning 36.95%. Total sales for August '19 (306) represented a 26.97% increase from August '18.
There's been a lot of talk about the possibility of a recession in the next 18-24 months. I'm not an expert on foreign trade policy or the stock market for that matter, but I do know the housing market. I firmly believe that IF (emphasis added) a recession is on the horizon, the housing market will not be the underlying cause. Freddie Mac cites several factors supporting that view in this article published in Mortgage News Daily. In fact, there is evidence that the housing market may stop or severely limit any looming recession. Have a great week!