November 2019 Market Update

Each month we bring you our South Tampa Real Estate Market Update by providing you with the key data points that drive the real estate market.  Here are the numbers for October 2019.

112

HOMES SOLD

$605k

MEDIAN PRICE

2.87

MONTHS OF INVENTORY

66

DAYS ON MARKET

2.75%

INTEREST RATES

Can you believe we’re bringing you the November market statistics? There are only about two more weeks left in the year!

The market is currently great: The number of homes sold, 112, has held steady compared to 2018 through October and November this year. Prices are still increasing. $605,000 is the median sales price, up 2% from October, but up 21% from November 2018. The market is strong.

Inventory is down—we currently have 2.87 months’ worth, meaning we have fewer homes that have come on the market. This means the market is moving quickly. In our four ZIP codes, we have 368 homes on the market, which is the lowest we have seen that number in a long time, almost a 10% decrease from October. Generally, people aren’t rushing to list their house during Thanksgiving and Christmastime; however, last November there were about 18% more homes on the market than this November.