North Tampa Quarterly Real Estate Report

Land O Lakes:

In January 2013, 69 homes were sold in Land O’Lakes, Florida for a median price of $160,000, compared to 72 homes sold in January 2012. By the end of January, 253 homes were listed for sale in the area, a sharp decrease from 387 listed in January 2012. In February 2013, 94 homes were sold which is a slight increase from the 80 homes sold during the same time the previous year.

At a median price of $158,900, however, homes decreased in value from $162,855 in February 2012. Toward the end of February there were a total of 263 homes available for sale, a 33% decrease from 2012 when 391 homes were available for sale. In March 2013, 110 homes listed a median price of $160,000. This represented an increase in price and volume of homes sold from March of 2012 when 74 homes were sold at median price of $129,000. At the end of March, 240 homes were listed for sale compared to 354 available the previous year.

Lutz:

In January 2013, 50 of the 233 available listed residences were sold in Lutz, Florida at a median price of $182,000.This is an encouraging indicator, as 41 of the 295 listed residences were sold in January 2012 for a median price of $127,500. At the end of February 2013, 218 homes were available for sale, 52 which were sold at a median of $190,000. This is an increase from February 2012 when 46 of the 285 homes available were sold for a median of $175,000. March 2013 resulted in an increase from 55 to 86 homes sold as well as an increase in median price up from $200,000 to $250,000. However, the total number of homes available for sale has dropped compared to this quarter the previous year from 370 to 237.

Wesley Chapel:

In Wesley Chapel during January 2013, a total of 56 homes sold at a median of $160,000. This was a slight decrease from the 58 homes sold in January 2012, but an increase in value compared to the previous median price of $141,000. In January 2012 available homes for sale dropped from 379 to 244, approximately a 36% decrease. The results for February 2013 show a slight increase in the number of homes sold from 69 to 71, as well as an increase in medium price from $155,000 to $161,000. The number of homes available in the area, however, has dropped in comparison to March 2012 from 356 to 212. Available homes in Wesley Chapel have decreased during March 2013 from 314 to 227. Yet, the total number of homes sold has increased to 97 from 74 the previous year in addition to a substantial increase in median price to $160,000 from $122,000.

New Tampa:

In New Tampa, January 2013 presented a 14% increase in home sales from 91 to 78 homes sold in 2012. Median home prices increased 10% from $200,000 to $220,000. Toward the end of January, 278 homes were listed for sale in New Tampa, 33% of which were sold in the last month. However, homes available for sale dropped 21% from the previous year from 350 to 278.  Similarly, in February 2013, 107 homes were sold in New Tampa compared to 79 homes sold in February 2012. This 35% increase in home sales was matched with a 34% increase in median home prices from $168,000 to $225,000.  At the end of February, 256 homes were listed for sale in New Tampa, 42% have been sold in the last month.  Home sale availability has dropped, however, from 368 in February 2012 to 256 in February 2013.

In March 2013, 144 homes were sold in New Tampa compared to 80 homes sold in February 2012 which translates into a considerable 80% increase. Median homes prices saw an encouraging 39% hike from $155,000 to $215,000. At the end of March, 261 homes were listed for sale in New Tampa, 55% of which were sold within the last month. This means home sales availability has dropped 28% from 365 in March 2012 to 261 in March 2013.

Team 54 Realty is comprised of Joe and Rose LoCicero who specialize in helping homeowners facing foreclosure. Rose and Joe mostly deal with the Northern Tampa Bay area, including Lutz, Land O Lakes, Wesley Chapel, and Tampa Palms. Team 54 also specializes in providing current market data for the North Tampa Communities