Tampa Housing Market Report – February 2018

Tampa Housing Market Report - February 2018

hi everyone this is your Tampa Bay realtor Lance Moore and in this video I am going to go over the housing market statistics for February 2018 and when I get done I want to give you buyers and sellers some really good advice to sort of help you out what's going on in the market right now so you have a good understanding and you don't get hurt in the market were in so let's just start off and go down the line we'll start off with active listings they were up quite a bit not a lot but from 27:49 in January to 38 66 in February now keep in mind this is for Hillsborough County single-family homes pending sales actually went up substantially I mean January was a really really good month surprisingly good for January but February beat the socks of it I mean I'm just wondering what March is gonna be like so February what I'm it went from January of twenty four forty six pending sales to February of 27 eighty-nine really big jump and of course the Sol's went up and and it's not too surprising that January lags behind on Sol's that always does at 1099 in February and had a pretty good jump to twelve hundred and sixty-seven I think this is going to be much higher in March it doesn't seem like anything slowing down it just seems like things are getting you know busier and busier and I think a lot of that has to do with certainly consumer confidence which is what Real Estate's really driven on so we have pending as a percentage of active it went from 65 percent to 72 percent big jump and then we have the supply and demand or the inventory level sitting at three point zero five months so let's just call it three months of inventory which is about half the inventory level of a staple market so it's pretty crazy and it really depends on the price range too so let's jump over and we'll take a look at the price range and we're just going to go over this old to give you an idea and give you an idea of the supply and demand so from a hundred to two hundred thousand dollars and I mean again it's just as you know we talked about this every month it's extremely low one point three five months of inventory if you're in that price range just carry a contract with you and get ready to write something on the table because they're just flying off the shelf from two to three hundred thousand were at two point nine nine months let's just call it three months of inventory which is again very very low and from three oh one to five hundred were at three point nine seven months of inventory and again the amazing thing I'm just I'm blown away by this over a half a million dollars over five hundred and one thousand dollars were it yet three months of inventory that's crazy I mean there's only seven hundred in eighty two homes for sale but last month in February two hundred and sixty one sold that's amazing so anyhow the markets really really good it's really hot so let me give you a tip for sellers first you know a lot of people are getting complacent I've seen a lot of real estate agents that are complacent I've seen a lot of sellers that are complacent and if you're a complacent seller then you're not properly talking to realtor's interviewing them asking the questions taking the first agent you see thinking hey we're in a good market the homes gonna sell yeah you would be absolutely right but at what price is it gonna sell for if you're complacent you're gonna get a complacent price if you hire a really really good agent you're gonna get a really really good price so it's up to you I always tell people talk to agents interview agents see what they're about when it comes to sewing home it's really about I mean there's a lot of things but it's really about marketing and negotiation now the for buyers when I'm hearing from buyers out there quite a bit is they're worried they're saying hey the interest rate is going up I don't know maybe maybe out of wait a little bit for the rate to go back down well let me tell you if you do your research and I would suggest if you're buying a home do your research and this don't take what I'm saying just take what I say with a grain of salt interest rates right now are extremely low and I'll tell you they're actually stupid well they should not be this low the Federal Reserve we need to we need to have interest rates higher because we need to get a stable market real estate markets are never this is my opinion real estate markets are never really good when they're a seller's market and they're never really good when they're a buyers market we need to stabilize things and one way that we've always done that through the years is raising the interest rates and they're extremely rote low right now and this is one of the problems that people had years ago when the market fell out and the interest rates were low back then they could only go so much lower and when the market tends to get bad interest rates tend to get lower when the market picks up on the markets really really good interest rates tend to get higher so you know I would just ask yourself if you're a buyer if you're worried about the right thing what's the upside and what's the downside I mean way I'm out pros and cons because I'll tell you interest rates if they go down which they're probably not but they might go down a little bit but if they go up you know they could they tend to go up a lot quicker than they go down so it's just something to think about if you have any questions at all don't hesitate to give me a call if you're in the tampa bay area i don't love to work with you and if you like these videos please leave a comment give me a thumbs up if you have any suggestions any questions anything you want me to do videos on please let me know i'm always looking for something thank you very much for watching my youtube videos and my channel and subscribe and hit that bell if you like it you'll get notified of all my videos take care you

3 thoughts on “Tampa Housing Market Report – February 2018

  1. are you guys needing aerial videos made for your listings im back and fourth from columbus oho and tampa

  2. Thank you for sharing your insights! Interested in your POV for good neighbors to target for rental properties (B/C+ areas, with 70%+ owner occupied)….

  3. The 100k to 200k market is smoking, I am surprised that more builders are not targeting this area, then again you can get a new townhome in that price range. Thanks again Lance.

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