Tarpon Springs Florida - 2011 Housing Market Review

Tarpon Springs Florida - 2011 Housing Market Review

Looking back on 2011 we find some interesting figures. In the group of Single Family Homes sold this past year in Tarpon Springs, from highest price sold to lowest:

418 single family homes sold

List: $9,995,000. Sold: $8,000,000. (most expensive)

List: $ 15,999. Sold: $ 13,500. (least expensive)

Sale price/sq ft:

High: $378.60

Low: $ 13.42

Average Days On Market: 131

Now let us look at townhomes, condos and villas for 2011:

165 townhomes, villas, condos sold

List: $674,900. Sold: $640,000. (most expensive)

List: $ 21,900. Sold: $ 21,900. (least expensive)

Sale price/sq ft:

High: $183.10

Low: $ 26.32

Average Days on Market: 153

When we compare 2011 residential sales in Tarpon Springs Florida to the 2010 residential sales we find:

2010 residential sales: 506

2011 residential sales: 583

2010 average sale price: $200,282.

2011 average sale price: $208,644.

2010 average days on market: 121

2011 average days on market: 119

From this information, we can conclude that the average number of days on the market remained the same and while the number of sales did indeed increase, the average sale price increased minimally. Still, even this slight increase shows that Tarpon Springs is following the trend that has been reported by the Florida Association of Realtors. Residential prices have bottomed out and there is a slight increase in price taking place around the state.

What does this mean to the potential buyer? Simple, NOW is the time to take advantage of the prices since the reports and statistical figures all show that prices are starting to edge their way back UP.