Below you will see a comprehensive analysis of the FishHawk Ranch real estate market for the month ending May 2015, as well as year over year results.
Please note: These real estate 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 Real Estate Stats for the Month Ending May 2015
- There are currently 105 Active FishHawk Ranch homes for sale. This is down from 116 Active homes for sale in April and 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 exactly the same as in April.
- Over the last 6-months 164, FishHawk Ranch homes have Sold and Closed. That is up from 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 $119.64. This has remained within $.10 for the last few months.
- Supply or backlog of homes is getting to a concerning low level! At the end of May, we are sitting at a 3.8 month supply of available homes for sale. In April we were at a 4.6 month supply 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 May 2015 Compared to May 2014
- In May 2015 there were 30 homes that Sold and Closed. That compares to 28 that were Sold and Closed in May 2014.
- The Median List Price Per Square Foot for the homes that Sold and Closed in May 2015 was $125.48 compared to $118.95 in May 2014.
- The median Sold Price Per Square Foot for the homes that Sold and Closed in April 2015 was $119.25 compared to $116.66 in May 2014.
- The median Days on Market for the homes that Sold and Closed in April 2015 was 22 days compared to 42 days in May 2014.
FishHawk Ranch Real Estate Pending Contracts for May 2015
- In May 2015 there were 53 FishHawk Ranch homes for sale that went into Pending Contract status. In April 2015 there were 33. This is a very large jump in Pending Homes.
- The Median List Price Per Square Foot of the homes that are in Pending status in May is $122.64 compared to $120.71 in April 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
Current mortgage rates have been holding fairly steady this month and per Mortgage News Daily the 30-year fixed-rate mortgage was up just a tick to around 3.97% from 3.93% 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. The direction of rates is without question heading up. The question is how much and how fast.
Are you thinking about buying but 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 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
Overall this was another strong month for the FishHawk Ranch Real Estate market. Sold and closed homes were up and new Pending homes sales were very strong.
I am concerned about the current supply or backlog of homes for sale in FishHawk. It did drop again, now we are sitting at a 3.8 month supply of homes to sell. For a healthy and balanced real estate market 3.8 months is way too low! We need more homes to sell! So if you are thinking about selling your FishHawk Ranch home now may be a perfect time. Give me a call!
The number of homes sold in FishHawk Ranch over the last 6 months is continuing to be strong. In my opinion, any homes that are on the market for over 60 days are most likely overpriced. Price Per Square Foot of Sold homes is holding fairly steady at just under the $120 range. We can see from the stats above that the median FishHawk home for sale is listed at $127 Per Square Foot. While there were a lot of price reductions last month I do still feel that 60% of the homes listed for sale in FishHawk Ranch are overpriced.
Sellers, if you want to sell your home for the most money properly pricing your home is probably the most important piece of the puzzle. But overpricing your home will not get it sold for top dollar! I am an expert real estate guest contributor for Inman News and wrote an article for them detailing how to price a home to sell for top dollar. The article is geared toward helping other real estate agents on how to properly price a home to sell for the highest possible price in the shortest amount of time. I don’t want to bore you with the entire article but a quick point talks about how your home reaches the largest amount of potential buyers during the first few days it is listed for sale. 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 priced correctly 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.
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.
Related FishHawk Real Estate Articles
- FishHawk Ranch Real Estate Has A Stong Month In April 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 by email at Jeff@FishHawkRanchRealEstate.net.
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