Tampa September Home Sales Statistics Are Encouraging

The following update on Tampa area real estate sales was recently issued as a news release by the Greater Tampa Association of REALTORS® (GTAR)

"With negative news emanating from virtually every area of the economy, September real estate statistics in Hillsborough County offer encouragement for the local market.

"In statistics released by the Greater Tampa Association of REALTORS® (GTAR) and the Mid-Florida Regional Multiple Listing Service, two important figures, total home sales and inventory of homes on the market, improved in September over the previous month. Sales rose to 1,345 last month, up slightly from the 1,327 sold in August. The number represents the highest monthly sales in the county since June, when 1,394 homes sold.

"The inventory of homes on the market in Hillsborough County dipped to 14.21 months, down from 14.68 months in August, the lowest inventory figure since June of this
year, but more significantly, the second lowest figure since December, 2006, when the
figure stood at 9.04 months.

“Most economists believe our recovery will be slow and steady,” says Carol Austin, CEO of GTAR, “and these latest figures, while not dramatic, reflect that forecast.” Deborah Farmer, President of the REALTOR® association, believes the latest statistics offer more hope for the real estate market in the future. “The fact that inventory levels are down significantly since the beginning of 2008 is a number that should not be overlooked,” she noted. “The January 2008 inventory stood at nearly 26 months. To see that figure at its current level is more than encouraging,” Farmer said."

My belief is in line with these thoughts. The Tampa and Tampa Bay real estate market is beginning to show real signs of life again. The $8,000 first-time home buyer tax credit has helped drive this upturn and it seems likely to me that Congress will extend, and may even expand, that program in 2010.

As it starts getting colder up North, it's time to start looking for that primary or seasonal home you've been wanting here in warm, sunny and inviting Tampa Bay Florida. Don't miss out on the current very attrative price levels. Prices will inevitably start moving up again as the economy improves and the inventory of unsold homes on the market contiues to fall.