Your October 2020 South Tampa Market Update

We’re back with those magic five numbers that drive real estate, and this time we’re analyzing our South Tampa market’s performance during the first full month of fall. In October 2020, 131 single-family homes sold, which is almost 25% more than last October but 19% less than this September. Once again, we’ve logged a stellar increase in the median sales price—17% year over year and 13% month over month. Inventory, on the other hand, has just kept on decreasing to absurdly low levels. Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message, or use these timestamps to skip to topics that interest you most: 0:36 — The total number of single-family homes sold this October and the median price 1:37 — Months’ supply of inventory remains low despite a jump in new listings for October 3:10 — A year-over-year sales graph that reveals a misaligned yet familiar annual cycle 4:38 — Though our delayed market has finally reached fall, homes are still selling fast 5:10 — Rates for a 30-year conventional mortgage loan have hit the middle 2s 6:00 — Wrapping up today’s report If you have questions about this latest market update or any other real estate topic or you have yet to receive your South Tampa market report for the third quarter of 2020 by mail, please reach out to us. We’re always here to help at the Bell Henderson Team, and we look forward to hearing from you! Stay safe, and happy holidays.