Since one year ago, the number of active listings is down 8.1% while the sold properties have not moved up or down compared to last year.
The pended are down 3.4%. Please know that when the PENDED LISTINGS indicator is rising, our market is in recovery. Contracts have been written and are anticipated to close.
Average home prices are down 1.3%. The price per square foot of a(single-family residence in zip code 33028, is approximately $178 per square foot – which is up — an increase of 8.5% over last year.
Part of the reason for the shortage of inventory: Homes remain on the market an average of 46 days — a year ago (2016) homes were on the market an average 57 days. Homes are selling within 97% of their originally listed price. The homes are priced well and priced to sell.
The average listed price in Zip Code 33028 is $473,000 — a 1.3 % decrease over last year. The average sold price is $426,000.
Important information: Months of Inventory. Currently, Zip Code 33028 is experiencing 2.7 months of inventory which is indicative of a Seller’s market. This is a 10.2% decrease from a year ago. Within the last year, the lowest months of inventory was 1.8 months (in March of 2017).
It is time to list, time to sell, time to upsize, time to downsize — money is still inexpensive to borrow.
Download all five graphs used in this report.