South Tampa Real Estate Report
South Tampa Real Estate Market Report | 12/29/19 - 01/04/20
Welcome to 2020 and this year's first South Tampa Market Snapshot! This week I'm presenting the overall sales figures for 2019. Anyone who predicted a softening market in 2019 due to rising interest rates and general economic conditions were a bit off the mark. Interest rates are 3/4 of a point lower than they were this time last year and the stock market is hovering near all-time highs. While the South Tampa market sales flat-lined overall (3042 in '18 vs. 3043 in '19), the South Tampa luxury segment ($1M+ sale price) saw a 17.8% increase in total sales (219 in '18 vs. 258 in '19). Fifty-seven of those luxury sales were over $2M. As always, I'll be researching and reporting back to you weekly about how interest rates, price trends, inventory levels, and general economic conditions affect our local real estate market. Being an election year, 2020 should be an interesting one to watch. Have a great week!
Michael Palermo
