Tampa Bay and FishHawk Ranch Real Estate Market Stats for July 2017
Wow, I cannot believe it is August already. Summer is going by fast and schools are getting ready to get back to class. That said please keep on the lookout for kids and drive carefully!
The super busy real estate season should start to slow and transition to a more normal sales pace. Below you will find the current real estate market stats for FishHawk Ranch as well as a newly added feature of Tampa Bay real estate market stats. Any reference to Tampa Bay real estate for these market stats refers to homes in Hillsborough County, Florida.
Quick note: The real estate market stats below are for FishHawk Ranch single-family homes and Tampa Bay single-family homes only. The market stats do not include Tampa Bay or 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 July 2017
- There are currently 100 Active FishHawk Ranch homes for sale. This down from 115 in June and 122 in May.
- The Median List Price Per Square Foot for the homes that are Active For Sale is currently $135.69. In June we were at $138.89 and in May we were at $139.21.
- Over the last 6 months, 252 homes have sold and closed in FishHawk Ranch.
- Over the last 6 months, the Median Sold Price Per Square Foot was $132.37. This is up a little from the last 6 months ending in June that was $129.63.
- There is currently a 2.4 month supply of homes available for sale on the market. This is way down from 3.2 months in June, 3.8 in May, and a 4.1 month supply in April.
FishHawk Ranch Year Over Year Comparison for June 2017 Versus June 2016
- In July 49 FishHawk Ranch homes that Sold and Closed compared to 64 homes in 2016.
- The Median List Price Per Square Foot for the homes that Sold and Closed in July 2017 was $138.02 compared to $134.27 in 2016.
- The Median Sold Price Per Square Foot for the homes that Sold and Closed in July 2017 was $136.36 compared to $134.27 in 2016.
- The Median Days on Market for the homes that Sold and Closed in July 2017 was 42 days compared to 34 days last July. (Keep in mind because of the lower amount of homes sold this number fluctuates a great deal).
FishHawk Ranch Real Estate Current Pending Contracts
- There are currently 74 FishHawk Ranch homes for sale that are in Pending Contract status waiting to close. This is down from 90 waiting to close in June.
- The Median List Price Per Square Foot of the homes that are in Pending status is $135.55 and has been fairly steady for while.
Please Note: At this point, we do not know how much these homes are under contract for and how much they will actually be sold for.
Current Mortgage Rates
Per Mortgage News Daily the average 30-year fixed-rate mortgage currently stands right around 4.02%. This rate has been amazingly stable for the past year.
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
I keep getting some positive responses on the rent versus own information below. Most renters are telling me they did not have any idea of the actual affordability to borrow money and how much home they could actually afford so I will leave it up again.
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 received by owning your home. To rent for one year would cost you $22,800!
If you would prefer to look at a lease for purchase program take a look at my FishHawk Ranch Rental homes page.
Tampa Bay Real Estate Market Stats
The stats below are from June 2017
Closed Sales: 2020
Buyers Paying Cash: 378
Median Home Sales Price: $245,000
Pending Homes: 2078
New Listings: 2353
Month Supply of Homes: 2.8
FishHawk Ranch Real Estate and Tampa Bay Real Estate Market Analysis and Outlook
It has certainly been busy. Every one of my listings has been under contract in less than 20 days and most have gone under contract in less than 3 days. Great homes that are priced aggressively and within reason are selling fast!
This market scares me a little bit as we only have a 2.4 month supply of homes in FishHawk Ranch to sell and a 2.8 month in the Tampa Bay area to sell. The supply has been continuously falling. We are now at a level that is not healthy for the market. There are now buyers walking away and renting for a year because they cannot find the home they are looking for.
Prices have been slowly climbing but honestly, with the limited supply of homes to sell, I am surprised the prices are not rising at a faster pace.
Even though homes are selling fast choosing the correct price to list your home at is very important for getting it sold for top dollar and in some cases over asking price. Homes that are overpriced, to begin with, will sit on the market and may end up selling for less than if it was priced competitively to start with.
Homes under $275,000 while not broken down in these stats are selling very quickly and homes over $450,000 are taking longer to sell and in some cases taking up to 150 days.
If you are a buyer and you find a home that you may be interested in. The to get an appointment tour the home scheduled as quickly as possible. If it is a home that you want to buy you will need to act quickly and put in a compelling offer on that home as soon as possible. That said if you are thinking about buying you should have a mortgage pre-approval done in advance.
My Final Thoughts
There is no question we have a shortage of great homes to buy. There are still some great homes for sale and more hit the market every day!
I am offering two awesome offers to my clients!
- Sellers – There are not enough homes for sale right now. If you would like to consider me to list and sell your home, head over to my seller page for full details on what I do to get your home sold for top dollar!
- Buyers – This one can be worth up to $10,000 or more! I will rebate up to 30% of my commission back to you at closing. The catch? Just buy and close on a home using me as your buyer agent! My buyers page has all the details!!
Thanks for stopping by and keep your comments and questions coming! If you would like anything added to these stats please let me know.
Related FishHawk Real Estate Articles
- Search FishHawk Ranch Homes For Sale By Subdivision
- All FishHawk Ranch Single-Family Homes For Sale
- Preparing Your FishHawk Ranch Home For Showings
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About the author
The above FishHawk Ranch real estate listing at “Tampa Bay and FishHawk Ranch Real Estate Market Stats for July 2017” was compiled and written by Jeff Gould.
Jeff is a top-selling, award-winning, nationally recognized REALTOR® and local FishHawk Ranch real estate expert. Jeff sells homes in the entire Tampa Bay 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.
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© 2017, Jeff Gould. All rights reserved.