Tampa Bay Real Estate Market Update for Summer 2014

There are many Tampa Bay area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a free property valuation so you know what buyers will pay for your home in today's market. You may also call me at (813)359-8990 for a FREE home buying or selling consultation to answer any of your real estate questions.

The Tampa Bay real estate market is one of the most dynamic in the entire state of Florida. The Duncan Duo is here today to let you in on some little known trends that we have been seeing lately on the market so that you are better informed.  Here are some things we have highlighted:

• Compared to last year, we are seeing a decrease in the number of home sales. At the same time, however, we are seeing an increase in the sale price of homes. The median sales price for a home in Tampa Bay is up to 195,000 this year, an increase of 10% from last year.

• Market trends are different in each neighborhood. While a home could almost instantly sell in South Tampa, the market won't be the same in Orlando Lakes, and the home could take much longer to sell.

• We saw about 22,000 home sales in Tampa in April of this year. While that number is slightly less than the figure we saw last April, the median home price has increased about 10% and we are only going to see more homes sell quickly and for better prices in the coming summer months.

• One of the main differences between the market this year and last is interest rates. They have risen just enough to where some people are deciding to wait it out to buy or sell. We have seen, however, a surge in luxury home ($1 million +) sales that we haven't seen in the past few years.

If you have any questions about the Tampa Bay real estate market or are looking to buy or sell a home, please do not hesitate to give us a call or send us a quick e-mail. We would love to help you with whatever you need.