In November 2012, the average sale price for Tampa homes reached $178,748 — its highest so far since December 2008 when the average sale price fell to $183,319 from the highs of $200,000 to $260,000 in 2007 and early 2008.
After December 2008, the average sale price continued to fall significantly from month to month, falling to $160,662 in January 2009, and posting its lowest level in January 2011, when the average sale price was $134,856. Slowly rising from this bottom, the average sale price increased to $135,543 the following month and continued its ascent, with just a few stops.
November 2006 $267,741
November 2007 $249,970
November 2008 $181,435
November 2009 $163,572
November 2010 $154,290
November 2011 $147,032
November 2012 $178,748
From the numbers above, it appears that the Tampa housing market has reached its bottom and is already on its way to recovery and growth. As more and more positive news items about the national economy are starting to come out, it is expected that recovery and growth will continue in the Tampa area and in other places nationwide.
The November average sale price for all types of Tampa homes, $178,748, represented an increase of 5.9% over the month and an increase of 21.6% over the year. It also represented a high jump of 32.6% from $134,856, the lowest average since December 2008.
The average list price also increased to $187,211 in November 2012 from the previous month’s average, $176,403, representing an increase of 6.1%. The year-over-year increase in average list price was almost 21%.
Total sales of Tampa homes in November decreased by four units over the month, but the total is still above 2,000, and it represented an increase of nearly 30% over the year.
A total of 2,059 Tampa homes were sold in November, of which 1,573 units are single-family homes, 220 units are condos, 190 units are townhouses, 42 are villas, 30 are mobiles homes and four are half-duplexes.
As has been the trend for the past several months, the $200,000 to $249,999 price range was again the best-selling price range for single-family homes and villas in Tampa in November. It accounted for 14.4% of all home sales during the month. The other top-selling price ranges were the $120,000 to $139,999 price range, the $250,000 to $299,999 price range, and the bargain price range, which is less than $50,000.
Are you still waiting for the housing market to reach the bottom? In the Tampa area, it already bottomed out several months ago. Prices have continued to rise, and the number of listings have continued to drop. Find your own place now. Search our listings of beautiful Tampa homes.