Please see below for a comprehensive breakdown and analysis of the FishHawk Ranch real estate market for the month ending June 2015, as well as year over year results.
Current FishHawk Ranch Real Estate Homes For Sale and Real Estate Stats for the Month Ending June 2015
- There are currently 94 Active FishHawk Ranch homes for sale. This is down from 105 Active homes for sale in May, 116 in April, and 123 in March.
- The Median List Price Per Square Foot for the homes that are Active For Sale is currently $125.16. This is down just a little bit from May when it was $127.00.
- Over the last 6 months 199 FishHawk Ranch homes have Sold and Closed. That is way up from 164 in May, 152 in April, and 139 for the 6 months ending in March.
- Over the last 6 months the median Sold Price Per Square Foot was $119.92. This has remained within $1.00 for the last few months.
- The supply or backlog of homes for sale is getting way too low! At the end of May, we are sitting at a 2.8 month supply of available homes for sale. In May we were at a 3.8 month supply, April was 4.6 months and March was a 5.3 month supply. In a balanced real estate market you would like to see a 6 to 8 month supply of homes for sale.
FishHawk Ranch Real Estate Activity for June 2015 Compared to June 2014
- In June 2015 there were 65 homes that Sold and Closed. That compares to 44 that were Sold and Closed in June 2014.
- The Median List Price Per Square Foot for the homes that Sold and Closed in June 2015 was $126.90 compared to $123.41 in June 2014.
- The median Sold Price Per Square Foot for the homes that Sold and Closed in June 2015 was $124.75 compared to $121.08 in June 2014.
- The median Days on Market for the homes that Sold and Closed in June 2015 was 39 days compared to 58 days last June.
FishHawk Ranch Real Estate Pending Contracts for June 2015
- In June 2015 there are a total of 78 FishHawk Ranch homes for sale that are sitting in Pending Contract status. This is a large jump from May when it was 53 and April when there was 33.
- The Median List Price Per Square Foot of the homes that are in Pending status in June is $127.18. This is up from $122.64 in May and $120.71 in April.
Please Note: At this point, we do not know how much these homes are under contract for and will actually be sold for.
Current Mortgage Rates
Current mortgage rates have been holding fairly steady this month and per Mortgage News Daily the 30-year fixed-rate mortgage jumped this month to around 4.12% from 3.97% at the end of May. I think we still need to keep a very close eye on these rates as I feel like mortgage rates are going to either keep driving buyer demand if they stay historically low or put the brakes on the market if there is any quick drastic increase. I think the pressure point will be if rates start getting close to 4.5%. The direction of rates is without question heading up. The question is how much and how fast.
For the curious, here is a quick calculation that shows your monthly principal and interest payment. If you were to borrow $250,000 at 4.12%. your monthly payment would be $1210.90. 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 or send me a message. I will be happy to give you a full payment analysis on a property.
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
June was a very strong month for the FishHawk Ranch real estate market. Sold and closed homes, as well as Pending homes, were way up.
My biggest concern with the FishHawk Ranch real estate market right now is the lack of inventory or homes for sale. We currently have a 2.8 month supply of homes on the market. Basically, that means if no new homes are listed we will have no homes to sell in FishHawk Ranch in 2.8 months!
I need some homes to sell! If you are thinking about selling your FishHawk Ranch home now may be a perfect time. Mortgage rates are still low and there are not enough homes for sale. So please give me a call, I will be happy to complete an in-depth Strategic Market Analysis just for you.
Thanks for stopping by and reading this article. I’d love to hear your comments and as always, if you any questions please let me know.
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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 or text at (813) 421-3007 or by email at Jeff@FishHawkRanchRealEstate.net.
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