Average Tampa home prices are now approaching price levels in the last months of 2008. Both the May and June 2012 average home sale prices were above $170,000, approaching the average sale prices in the last three months of 2008, which were just above $180,000. They were also far above $134,856, which was the lowest monthly average sales price since 2008.
The June 2012 average sale price was $172,771, an increase of 1.4 percent from the previous month’s average price, which was $170,389. It represented an increase of 6.3 percent over the year, from $162,508 in June 2011.
From February to June this year, the average sale price increased at an average pace of 3.74 percent, with the month of April posting the biggest increase rate.
| Month | Average Sale Price | Monthly Increase Rate |
| February 2012 | $149,820 | 4.04% |
| March 2012 | $152,977 | 2.11% |
| April 2012 | $165,374 | 8.10% |
| May 2012 | $170,389 | 3.03% |
| June 2012 | $172,771 | 1.40% |
The average listing price for Tampa homes also continued to increase. Home sellers know that the housing inventory is declining, so they’re confident they can sell at their desired price ranges. Since January, the average price discount rate did not go beyond 5 percent.
In June, the average listing price was $180,648, an increase of 1.22% from the previous month’s $178,469, and a jump of 5.49% from last year’s June price of $171,241. Home sellers in June got an average of 96% of their desired home prices.
One reason for the improvement in home prices in the Tampa area is the declining number of Tampa homes for sale. In June, the total housing inventory has dropped to 7,591 units, a big drop of 12.49% from the previous month’s 8,674 total, and an even bigger drop of 35.05% from last June’s 13,355 total. Over the year, the number of available housing units for sale fell by more than one third.
Consequently, homes for sale on the market are being snapped up quickly. Last year, homes were staying on the market for 107 days, with June seeing the longest stay at 117 days. In June, homes were getting sold after being on the market for just 3 months. The average time on the market in June was 91 days.
A total of 2,149 single-family homes, villas, townhomes, condos and co-ops in the Tampa area were sold in June, lower by 2.3% than total sales in the previous month, but higher by 2.14% than total Tampa home sales in June 2011.