October 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.

105

HOMES SOLD

$594k

MEDIAN PRICE

3

MONTHS OF INVENTORY

66

DAYS ON MARKET

3.75%

INTEREST RATES

What do the latest numbers from last October say about our South Tampa market?

First, there were 105 home sales, which is basically the same that closed in September 2019 and October 2018. The median sale price was $594,750, which is about a 20% jump year over year and month over month. Our absorption rate was three months, which was slightly down compared to the two previous time frames, making our market a seller’s market.

Additionally, there were 139 new listings, which is a slight drop compared to the previous month (152) and October 2018 (160). The average days on market, meanwhile, jumped from 43 to 66 days month over month.