Finally! Some Good News for Tampa Bay Homeowners -
Housing sales in Tampa Bay rose 35% in October over the same time last year as a tightening supply strengthened prices and helped move houses faster according to a recent article in the Tampa Bay Times.
The good news doesn’t just stop there and it’s not just conventional homeowners who are profiting. Distressed sales still make up about 4 of every 10 housing sales and the rising prices are making it easier for those in distress to sell or those who have waited until prices were rising again to make the decision to sell their home.
Nonetheless, analysts and experts are still urging caution, as the recent sales data could indicate growth and not real recovery but the reality is that more deals are closing faster, more often and at higher prices than sellers could reasonably expect to have received just 1 year prior. It would seem that while the difficult economic times are not finished by any stretch of the imagination, things are beginning to look much better in the housing market since it crashed in such spectacular fashion only a few short years ago.
No one can forget those stressful days but it seems as though they will become a distant reminder of what speculation and reckless behavior can cause rather than a permanent adjustment downward. With recent news and more details like median sale prices rising to 133k, 9% more than last year coming out, the housing market crisis is more like a cautionary tale with a happy ending, and these announcements could be the precursor of a return to favorable pricing and lower time on the market for Tampa Bay homeowners and buyers.
All of this means there is fresh hope for homeowners who have not had success in finding a qualified buyer for their property. Previously, there had been a 20 month supply of homes to buy, so homeowners found themselves waiting long months before a buyer appeared for their house. According to the Greater Tampa Association of Realtors, in Hillsborough county for example there are only 7000 listings instead of the 12,000 listed the previous year.
What all this ultimately means for a homeowner who is trying to sell their house…now is the right time to get the best price possible in the shortest amount of time. Not every home is in distress but for those who are, getting help quickly can mean the difference from a ding on a credit report and a full-fledged credit meltdown. That doesn’t have to happen to anyone, with quick planning and reaction times it’s possible to avoid the financial fallout from a distressed house altogether. For those who want to sell but can afford to wait until prices are better, now is the time to strike, when supply is low and buyers are competing for the best deals.
For more information or to obtain an offer for your property contact us at Sellmyhousetampabay.com and we’ll be glad to facilitate your sell with one of our pre-qualified buyers today!