Below you will see a complete breakdown of the FishHawk Ranch real estate market for April 2015, as well as year over year results.
These market statistics are for FishHawk Ranch single-family homes only and do not include FishHawk Ranch townhomes, condominiums, villas, and multi-family properties.
Current FishHawk Ranch Real Estate Homes For Sale and Stats for the Month Ending April 2015
- There are currently 116 Active FishHawk Ranch homes for sale. This is down from 123 Active homes for sale in March.
- The Median List Price Per Square Foot for the homes that are Active For Sale is currently $127.00. This is down from $128.25 in March.
- Over the last 6-months 152, FishHawk Ranch homes have Sold and Closed. That is up from 139 for the 6 months ending in March.
- Over the last 6-months, the Median Sold Price Per Square Foot was $119.60 slightly down from $119.71 for the previous 6 months ending in March.
- Median Days on Market for the homes that sold in April was 60. This was an improvement from the 70 Days on Market in March.
- The supply or backlog of homes got a little tighter. At the end of April, we have a 4.6 month supply of homes on the market and in March we were at 5.3 months. Personally, I’d like to see between a 6 to 8 month supply.
FishHawk Ranch Real Estate Activity for April 2015 Compared to April 2014
- In April 2015 there were 33 homes that Sold and Closed. That compares to 18 that were Sold and Closed in April 2014.
- The Median List Price Per Square Foot for the homes that Sold and Closed in April 2015 was $116.48 compared to $121.18 in April 2014.
- The median Sold Price Per Square Foot for the homes that Sold and Closed in April 2015 was $117.28 compared to $116.00 in April 2014.
- The median Days on Market for the homes that Sold and Closed in April 2015 was 53 days compared to 18 days in April 2014.
FishHawk Ranch Real Estate Pending Contracts for April 2015
- In April 2015 there were 33 FishHawk Ranch homes for sale that went into Pending Contract status. In March 2015 there were 42.
- The Median List Price Per Square Foot of the homes that are in Pending status in April is $120.71 compared to $130.85 for the homes in Pending status in March 2015.
Please Note: At this point, we do not know how much these homes are under contract and will actually be sold for.
Current Mortgage Rates
It does not look like it from the final statistics but the 30-year fixed-rate mortgage started to fluctuate a little bit in April. The rates were down to the 3.62% range in the middle of April and currently sit around 3.93%. I need to keep an eye on this trend. If rates continue the upward trend which I believe they eventually have to, now may be a really go time to buy and lock in a low rate. The Fed just met the other day and their guidance was not very helpful. There is no question that they will be raising the Fed Funds rate in the near future, the question becomes when. Some of the current economic indicators were showing a slow down in the economy so the Fed may leave the Fed Funds rate alone until the end of the year. While the Fed Funds rate is not a direct indicator of mortgage rates my guess is this will start to put some pressure on mortgage rates and you will start to see them rise a bit heading toward the end of the year.
On a buyer note, did you know that there is a new Fannie Mae program that allows for just a 3% down payment on a home? It is a pretty nice program. If you would like more information on this program let me know and I will put you in touch with one of the mortgage professionals I trust.
Not sure how a monthly payment on a mortgage breaks down? Here is a quick calculation that shows your monthly principal and interest payment. If you were to borrow $250,000 at 4% your monthly payment would be $1193.54. Keep in mind that this is just principal and interest. It does not take into account any other homeowner costs. For additional mortgage calculations feel free to use my mortgage calculator.
Note: Mortgage rates quoted are just averages. Your final mortgage rate is determined by a number of factors. Please consult a mortgage professional and get a pre-approval to determine what your final rate may be.
FishHawk Ranch Real Estate Market Analysis and Outlook
This was a pretty good month for the FishHawk Real Estate market. Sold and closed homes were up and new Pending homes were solid. The current month’s supply or backlog of homes in FishHawk Ranch did drop to a 4.6 month supply. In a perfect world, I would like to see that number a little higher. So if you are thinking about selling your FishHawk Ranch home let me know. I think I could get it sold pretty fast for you. Pending FishHawk homes for sale was down a little to 33 homes in April. It looks like that may just be a result of the small number of homes currently for sale. I have multiple buyers that cannot find the home in FishHawk that they are looking for.
The number of homes sold in FishHawk Ranch over the last 6 months had a decent recovery in April. It had been trending down for 6 months. Last month was the first up month since October 2014. However, October was still 205 and in March it was 152. Again I think the reason we are not seeing this number over 200 is the lack of well-priced homes for sale.
Price Per Square Foot of Sold homes is holding fairly steady in the $117 to $120 range. In April the median Sold Price Per Square Foot was $117. We can see from the stats above that the median FishHawk home for sale is listed at $127 Per Square Foot. While not terrible, I do believe that 80% of the homes currently listed are overpriced.
Sellers, if you want to sell your home for the most money possible overpricing the home does not accomplish that task. I wrote an article for Inman News detailing how to price a home to sell for top dollar. The article is geared toward helping real estate agents with the pricing process. But a quick point from the article talks about how your home reaches the largest amount of potential buyers in the first few days it is listed. If your home is dismissed as being overpriced by potential buyers and they buy another home you lose that buyer forever. My point is to be at the top of the range but not overpriced. Again, I think we have too many overpriced homes right now in the FishHawk real estate market. If your home is currently for sale and you are listed above $120 per square foot and your home is on the market for more than 45 days you should think about reducing your price. Now all homes are different and without viewing your home this is not an exact science, but the stats tell a pretty clear picture. If your home is priced right in this market it will sell. If not it may just sit on the market. Pricing is a delicate balance and one I will be more than happy to help you with.
I’d love to hear your comments and as always, if you any questions please let me know.
Related FishHawk Real Estate Articles
- FishHawk Real Estate Market Stats March 2015
- Find Out How Much Your Home Is Worth
- FishHawk Ranch Frequently Asked Questions
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About the author
Jeff is a top-producing, nationally recognized REALTOR® and local FishHawk real estate expert. You will find him selling homes in the Tampa Bay, Florida area, including FishHawk, Lithia, Riverview, Valrico, Apollo Beach, Brandon, and Tampa.
If you are looking to sell or buy a Tampa Bay area home, Jeff is your local and trusted professional. He can be reached via phone/text at (813) 421-3007 or message him here:
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