FishHawk Ranch Real Estate Market Stats for May 2019

Posted May 31, 2019

FishHawk Ranch Real Estate Market Stats for May 2019

Below is a breakdown and analysis of the FishHawk Ranch real estate market stats for the month ending May 2019.

Please note: These real estate market stats are for FishHawk Ranch single-family homes only. They do not include FishHawk Ranch townhomes, condos, or villas that may be for sale or have sold.

Current FishHawk Ranch Real Estate Homes For Sale And Real Estate Stats For The Month Ending May 2019

There are currently 131 Active FishHawk Ranch homes for sale.
The Median List Price Per Square Foot for the homes that are Active For Sale is currently $150.61. There has been a steady rise in the list price per square foot for the past few years.
Over the last 6 months, 195 FishHawk Ranch homes have sold and closed.
Over the last 6 months, the Median Sold Price Per Square Foot was $143.38.
There is currently a 4.8 month supply of homes for sale on the market. This is down from a 3.8 month supply at the end of May 2017. Supply has slowly been ticking up. Overall this number still reflects a very tight inventory level and a strong seller’s market.

FishHawk Ranch Year Over Year Comparison For May 2019 Versus May 2017

In May 2019 there were 53 homes that sold and closed compared to May 2017 when 53 FishHawk Ranch homes sold and closed.
The Median Sold Price Per Square Foot for the homes that Sold and Closed in May 2019 was $145.07 compared to $139.22 in May of 2017.
The Median Days on Market for the homes that Sold and Closed in May 2019 were 28 days compared to 23 days last May of 2017. (Keep in mind because of the number of homes sold this time metric can fluctuate a great deal).

FishHawk Ranch Real Estate Current Pending Contracts

There are currently 80 FishHawk Ranch homes for sale that are in Pending Contract status waiting to close. In May of 2017, there were 83 Pending Contracts waiting to close. The pending number does indicate that there are still a lot of homes preparing to close.
The Median List Price Per Square Foot of the homes that are in Pending status is $133.00 down from $135.64 in April.

Current Mortgage Rates

Even though we have seen some fluctuations in the mortgage rates amazingly per Mortgage News Daily the average 30-year fixed-rate mortgage currently sits around 4.00%. It is exactly what it was 2 years ago.

Here is a quick buyer scenario for you. If you were to borrow $250,000 at 4% your monthly principal and interest payment would be $1193.54. This figure is just the 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.

Rent Versus Own

For most clients, the decision to rent versus buying a home comes down to a number of factors. I am going to do a quick breakdown of the financial side of it for you. Based on our mortgage example above for a $250,000 purchase price, you could buy about a 2000 square foot home in FishHawk Ranch. That home would rent for around $1900 a month. The estimated monthly costs to own would look something like this:

Principle and Interest – $1194
Mortgage Insurance – $100
Home Owner Insurance – $100
Property Taxes on Primary Residence – $333
HOA – $10
CDD – $100
Total Monthly Costs to Own: $1837

From these quick numbers for a similar home, you could save $60 a month owning your home and building equity in your future rather than paying for an investor’s mortgage. These numbers do not take into account any tax savings or maintenance items incurred by owning your home.

FishHawk Ranch Real Estate Market Analysis And Outlook

We have just finished up a busy spring season and enter a summer season that tends to slow down just a tick, we are still in a very strong seller’s market. Prices are still slowly rising and demand is strong. I like to see that our inventory levels are getting a little higher. To get to a more balanced market I like to see between a 6 to 8 month supply of homes for sale.

Homes that are in good shape and priced correctly are going under contract very quickly. We are continuing to see high demand for homes priced under $350,000.

Mortgage rates look to remain in the 4% – 4.5% for the foreseeable future as our economy is very strong with low inflation. We should keep an eye on the tariff disputes with China and Mexico. I do not anticipate them having too large of an impact on our economy and the real estate market but it is

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.

About The Author

The above real estate article FishHawk Ranch Real Estate Market Stats for May 2019 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.