FishHawk Ranch Real Estate Market Stats for July 2021
Below is an up-to-date breakdown and analysis of the FishHawk Ranch real estate market with current stats for the month ending June 2021 heading into July 2021.
I am sure that most of you have been hearing how hot the current real estate market is. I’ve been involved in real estate for a long time, and without question, this is the strongest seller’s market I have ever seen. I think there are a lot of reasons for it. The question is how long will it last. I will try and shed some light on that at the end of this article.
Current FishHawk Ranch Real Estate Homes For Sale And Real Estate Stats For The Month Ending June 2021
- There are currently 15 Active FishHawk Ranch homes for sale. As a comparison, going back to June of 2019, we had 113 Active homes for sale. There are roughly 5000 homes in FishHawk Ranch and only 15 currently for sale, wow!
- The Median List Price Per Square Foot:
No Pool: $182.03
Just for comparison in June of 2019 was $147.90 as a combined list price per square foot.
Because this is a small sample size I would not put too much importance on this change yet.
- Median Sold Price Per Square Foot for homes sold over the last 6 months:
No Pool: $163.61
- Median Sold Price Per Square Foot for homes sold in June 2021:
No Pool: 170.17
For some perspective, in June of 2019, the combined median was $144.87. This is a really large jump in price over the last 2-years. This was also the median and not average. The average would have been higher as there were a few homes sold over $200 a square foot.
- I usually discuss the current month’s supply of homes for sale in FishHawk Ranch here. Since there are only 13 single-family homes for sale, that seems silly. There were a total of 7 homes for sale in FishHawk Ranch about a month ago so 13 is a huge percentage improvement from that level. However, 13 is a very troubling low number of homes for sale.
FishHawk Ranch Real Estate Current Pending Contracts
- There are currently 62 FishHawk Ranch homes for sale that are in Pending Contract status waiting to close. That is a pretty large number compared to the lack of homes available for sale. This is an indication that if a home is priced correctly and in decent shape, it will sell in days if not hours.
Current Mortgage Rates
Per Mortgage News Daily the average 30-year fixed-rate mortgage currently sits around 3.18%. Historically, this is an amazing rate and certainly a contributing factor to the robust buying demand the real estate market has been seeing.
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
We are have reached the halfway point of the year. I am finally getting an opportunity to do the market stats. I do apologize, through May, I only had two days off in 2021 and I am just starting to catch up. Typically, this time of year the real estate market takes a breather. The market has slowed down a little, but there is still considerable demand in the market. As an example, I just listed a home in FishHawk Ranch, in one day, we had 7 very strong offers, two were at the asking price, five were over the asking price. We accepted an offer that was $25,000 over the asking price that will cover any potential appraisal shortfalls.
For a buyer or if I am working with you as a buyer. The market is extremely frustrating. My best advice right now is to be patient, get educated on the area you might be interested in, homes, values, the current market, and be ready to make a very compelling offer on a home that you are interested in. There are no bargains right now. If it looks like a bargain, there is something wrong that you are not seeing on the surface.
I think this current, strong seller’s market, is here to stay for the foreseeable future. Builders are about 8-years behind on building. They are having labor issues, window issues, material inflation, and the counties are backed up giving final approvals. A typical 7 to 8 month build time is now about a year. Builders are limiting the number of contracts they are taking every month or as one of the national builders just did, will only sell homes that are already built and preparing to close in the next few months. They are trying to ramp things up but it is a struggle for sure. Resale homes are a battle with most of the nice ones going for over asking price and any seller contributions or contingencies will get an offer declined.
The question I get asked all the time is when will the bubble burst. This is a long answer and the short of it is I don’t see it happening anytime soon. This is a much different market than in 2008. The loans are different, most of the buyers are owner-occupants, and mortgage rates have been steady around the 3% range. If you are sitting out waiting for prices to decline, it might be a mistake. I do not see any decline coming for the foreseeable future.
I’d love to hear your comments. If you would like anything added to these stats please let me know and as always, if you any questions please don’t hesitate to ask.
Related FishHawk Real Estate Articles
- Search FishHawk Ranch Homes For Sale By Subdivision
- FishHawk Ranch Buyers Guide
- Preparing Your FishHawk Ranch Home For Showings
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About The Author
The above real estate article FishHawk Ranch Real Estate Market Stats for July 2021 was written and posted by Jeffrey Gould.
Jeff is a top-selling, nationally recognized REALTOR®, real estate Broker, and your local FishHawk Ranch real estate expert. You will find him selling homes in Tampa Bay, Florida, and surrounding areas. Some of those areas include FishHawk, Lithia, Riverview, Valrico, Apollo Beach, Brandon, and Tampa.
If you are looking to sell or buy a home anywhere in the Tampa Bay area, Jeff is your local and trusted professional.
Jeff can also be reached via text or phone at (813) 421-3007.
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