Tampa Real Estate News - July 2014 Market Update - Lance Mohr - Tampa Realtor

Here's the Tampa real estate market update for July of 2014. Contact me at http://www.tampa2enjoy.com/contact-us/ and check out http://www.tampa2enjoy.com to view all homes for sale in Tampa and surrounding areas. If you have any questions about Tampa real estate news or the real estate market in Tampa please give me a call. Transcript: Hi everybody this is Lance Mohr I’m getting these real estate statistics done early this month and the reason why I do this is for you the home buyers and home sellers in the Tampa area. Can you imagine going out and looking for a home and spending could be weeks or months and finally finding the perfect home you like after all that time, the nights, the weekends, and all the looking and driving around and not really understand what type of real estate market we are in and then you lose the home to another buyer? That’s really why I do this so you have a good idea not only where it is overall but where the real estate market is more specifically for your price range as well. So let’s start off and go over and we will talk about the overview page. We are going to talk about the actives right here. We can see the active homes for sale have been going up. If you look back to October of 2013 they were 4,680 and now they are 5,225 so they have gone up quite a bit. We can go over to pending as you can see; they are really floating up and down but they are pretty steady around 3,300 in the low 3,000s and then you go down to the sold homes and as you can see we are on a good part of the year right now, the summer months which they are generally a little higher and in the May, June, July and even August timeframe as well and you will start to see a dip in September area. Search for clubs, gyms, parks, worship places, schools, or any amusements you enjoy using our Lifestyle Search... Click here: http://bit.ly/1XjjnSt Here’s the thing a lot of people don’t pay attention to is the pending homes as a percentage of the active. I know a lot of times I sort of skip through this but the higher the number, the more of a seller’s market it is. You can see right here 58% in June and now we are at 63%. You can see it has been basically in the 60s and 70s since about the beginning of the year even October of last year and then probably the most important statistic right here is the supply and demand; basically the health of the market. We are still under 4 months of inventory. As I say six months is a stable market and not really a buyer or sellers so if the average sales price is about $180,000 or so, you are looking at six months of inventory. So we are at a little under 4, at 3.76 months of inventory. It is definitely a seller’s market. Keep in mind when you also look at it you have to figure there is a certain percentage of the homes that home buyers are looking at and it is good for sellers to know this, but a lot of the homes are overpriced. You might have probably 50% if not even a little bit more of the homes that are actually overpriced and some of them are just going to be in really, really bad condition and then some of them are going to be in bad condition and then average, then good, then really good. Of course everybody is looking at the home that is a nice home in a nice area for a fair price and depending on your price range you are probably going to be competing with other home buyers. I just had one of my buyers this week we put an offer in at $150,000 home and unfortunately there were 37 other offers. That is not normal but still you don’t want to be in that situation. If you like this video, please give it a thumbs up or give me a comment. Don't forget to "Subscribe" to my YouTube Channel. Please contact me if you have any questions. Love this? Like our page on Facebook.com/TampaRealEstateExpert Follow us on Twitter.com/tampa2enjoy Lance Mohr Mohr Realty Group at Keller Williams 813-317-4009 http://www.tampa2enjoy.com http://www.tampabayrealtypros.com *************************************************************** https://www.youtube.com/watch?v=rwo2s51ECUg