Thursday, 20 November 2014

Tampa Sales Surge 21% in October

October market statistics released today show continued strengthening in sales activity with prices now starting to follow suit. Sales volume was up 21.5% over the same period last year while new pending sales were also up over 13% in the same period. Average and median price were up 6.6% and 7% on the year respectively for single family. Townhomes and condos showed massive gains of 15% and 17% on the median and average price. .  The October figures continue the trend that we noted in September where there was a sharp increase in sales.

The historical bar graphs on the report lend further relevance: After being one of the hardest hit markets in the U.S. Tampa saw double digit price increases in 2013. For the most part 2014 saw marginal gains in sales and prices over the record pace of the year before. One trend that did emerge was sharply lower cash sales as a more “normalized” market took over from one dominated by investors.

In September of 2014 however we noted a sharp increase in sales while prices remained flat. October brings a massive increase in sales volume and prices also starting to move higher. We will see if this trend continues to form a true “second wind”.

1 comment:

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