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DENVER, Colo. — While components of the nation are seeing falling residence prices, the Tampa, Florida space is not one in all them, based on a brand new RE/MAX housing report.
According to the August report, Tampa ranked second in the nation in year-over-year value features with median residence sale prices rising from $310,000 in August 2021 to $370,000 in August 2022, a development of 19.4%.
The RE/MAX report confirmed that throughout the 51 metro areas tracked by the realty group, the typical residence value was promoting for 1% lower than the asking value.
That was a drop from 101% in July and 104% in April. RE/MAX stated the drop in value helped push general August gross sales 5.3% increased than July, even because the median gross sales value dropped 2.4%.
The enhance in gross sales and reduce in value additionally coincided with a rising mortgage fee that topped six % this week for the primary time since 2008.
RE/MAX’s National Housing Report additionally reported new residence listings dropped 12.8% from July and general stock was down 1.8% after 4 months of double-digit development.
“Patient buyers were rewarded in August, as prices softened from July. Sales increased as buyers ‘bought the dip’ – which was not the trend many people were expecting. The activity modestly depleted inventory, although the number of homes for sale remains significantly higher than this time a year ago,” stated Nick Bailey, RE/MAX President and CEO.
If there was space Tampa residence consumers would possibly see as constructive, the typical days available on the market for properties in the realm jumped 77.4% year-over-year from 17 in August 2021 to 30 in August 2022. That was the fourth largest development in days available on the market in the RE/MAX report.
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