Tampa Florida Real Estate Sales & Inventory Comparison for January ~ February

The Mid Florida Regional MLS has released the Tampa Bay real estate sales & inventory comparison of January 2007 and January 2008 as well as the comparison of February 2007 and February 2008.

Everybody seems to know that the real estate market is depressed. It seems clear from the chart that the number of sales each month is down, the Days On Market is up and the number of houses for sale (Current Inventory) and months it will take to sell that inventory at the current pace is up as well. The only positive numbers of note are the cost per square foot which are down. This is a positive sign, meaning that buyers in this market are getting more home for your money.

The numbers that concern me the most are the current inventory, which has remained high over the past 12 months, trending upward. These are the current existing single-family homes listed in the MLS. When the current inventory begins trending downward, this will be the signal that a recovery is in full swing.

An additional number to watch is the Average Cost Per Square Foot. We will keep our eyes on all of these numbers and keep you up to date.

Tampa Florida Real Estate Sales & Inventory Comparison January~February
Month	Year	Monthly Sales	Avg List Price	Avg Sale Price	% Diff List/Sell	Days On Market	Current Inventory	Months of Inventory	Avg Cost Per Sq. Ft.
JAN	2007	1,121	$272,006	$259,065	95.24%	88	18,707	16.69	$144.45
JAN	2008	791	$260,475	$246,260	94.54%	125	20,237	25.58	$138.52
FEB	2007	1,209	$275,872	$265,149	96.11%	89	19,234	15.91	$141.84
FEB	2008	813	$255,047	240,077	94.13%	120	20,486	25.20	$132.23

This data represents single-family home sales. Statistics derived from MFRMLS^® Statistical Overview February 2008 and reflects only sales reported to MFRMLS^®

Dave Tipton, Broker- Diamond Dwellings Realty- Brandon Florida

813-653-1241