Both the quantities and prices of Tampa homes sold over the eight-month period from January to August this year have increased from month-to-month for five months, based on data from My Florida Regional MLS and the Greater Tampa Association of Realtors (GTAR).
In August, a total of 2,091 single-family homes, villas, condos, townhouses and co-ops were sold, representing an increase of 2.25% from the previous month and an increase of 1.11% from last year’s August.
Here’s a chart showing the rate of increases in Tampa home sales from month to month in 5 months of the first 8 months of the year:
| No. of Homes | % of Increase | |
| Sold | Over the Month | |
| January 2012 | 1,376 | -24.81 % |
| February 2012 | 1,659 | 20.57 % |
| March 2012 | 1,972 | 18.87 % |
| April 2012 | 1,863 | -5.53 % |
| May 2012 | 2,142 | 14.98 % |
| June 2012 | 2,170 | 1.31 % |
| July 2012 | 2,045 | -5.76 % |
| August 2012 | 2,091 | 2.25 % |
Percent of Increase in Home Sales Over the Year
| January 2012 | – 4.91 % |
| February 2012 | – 0.96 % |
| March 2012 | -13.58 % |
| April 2012 | -10.09 % |
| May 2012 | 6.51 % |
| June 2012 | 3.14 % |
| July 2012 | 4.12 % |
| August 2012 | 1.11 % |
The average sale price for Tampa homes also increased in August, both over the year and over the month. The average price in August was $175,813, a jump of 2.49% from $171,534 in July this year and a jump of 11.39% from $157,838 in August last year. August’s average sale price was also 96% of the average list price, an improvement from the 94-percent and 95-percent that persisted over the past three years. The average list price in August was $183,023, an increase of 2.88% from $177,908 in July.
The increase in prices was pushed by the diminishing number of available homes for sale and the rising number of prospective buyers, in addition to other factors. On average, Tampa homes stayed on the market for only 85 days in August, a significant drop from 111 days in August last year. That’s a drop of nearly 31 percent. The August housing inventory was 7,231 units, a drop of 11.45% from 8,166 in July and a drop of 40.89% from 12,232 units in August 2011. It will take only 3.5 months to sell the August housing inventory at the August sales pace. Over the past four years, the number of homes for sale in Tampa has drastically dropped by 65.24%, from 20,802 housing units in August 2008 to only 7,231 units in August 2012.
In August, the most popular single-family homes and villas were units in the $200,000 to $250,000 sales price range. The most in-demand Tampa condos, townhouses and co-ops were those priced less than $70,000, which are usually investment properties.
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