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The August 2019 numbers are officially in, so let’s take a quick look at what’s happening in our Tampa market.
The biggest story has been the fact that inventory is way down. Year over year, our home supply has decreased by 14.4% to just 8,195 homes. That’s front-page news if you’re looking to put your home on the market anytime soon.
How about the total number of sales? Home sales in the month of August were up 5%, with 3,683 closed sales. Home prices increased by 5.2% compared to this time last year.
We’re now heading into the fall selling season, and historically speaking, this quarter is one of the strongest in our Tampa Bay market. If you’re thinking of entering the market, now’s a good time to let us know.
One final note I want to share with you is, if you’re thinking of undertaking major renovations to your home in advance of your future sale, pick up the phone and give us a call first. Let’s talk about the resale value of the items under consideration.
Here you can take a look below at all the August stats regarding the number of sales, closed sales prices, and inventory:
If you have any questions about our local market or about real estate in general, don’t hesitate to give us a call or send us an email. We look forward to hearing from you!