Tampa Bay Home Sales Up 46% Say Realtor Statistics

IS THIS A MISPRINT? MARCH STATISTICS SHOW TAMPA BAY HOME SALES UP 46%

The Greater Tampa Association of Realtors (GTAR) March 2008 statistics show Tampa and Hillsborough County Home Sales up 46% in comparison with January 2008.

March sales of all housing units showed an increase of 42.9 percent from the previous month. Hillsborough County in March compared with 813 for the month of February. The March figures also reflect an increase of 46 percent from January's total of 791 units sold.

Also of note, current Inventory is down slightly and months of on-hand inventory is down significantly from 25.20 months in February to 17.33 months of inventory in March 2008. This means that at the current rate of sales there is enough inventory on the market to last 17.33 months. During normal times the local market would have between 6 months to 12 months of inventory on the market at any given time.

Pasco County to our north had an even better increase for March. The West Pasco Board of REALTORS® reports that the county's home sale numbers are up 55% from January 2008.

Is this the beginning of a trend or just an anomaly? Let's keep a close watch on these statistics and stay tuned to see what next month brings the local housing market.

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