May 2022 Real Estate Market Update

The real estate market in Hillsborough County is one of the most competitive in the country at this time, but even this market continues to show signs of a slowdown.  That being said home prices are 20.6% higher than back in January!

Sold inventories have been steadily decreasing over the last 6 months and we’ve had a surge in new listings come on the market in May.  These two things have contributed to another monthly increase of 27% in active inventory.  We are still in an extreme sellers market with the month supply of homes finally not a few weeks worth of inventory!

If you have any real estate needs reach out! We would love to be of assistance!

April 2022 Market update – First sign the market is cooling

This is the first sign that we’ve had that the real estate market is cooling for Hillsborough County. For the first time since June 2019 inventory levels have increased slightly! Now we’re still at a .8 month supply so we are a LONG way off from a balanced market of 6 months supply.

The average home prices are at a market high of $518,584 which is 24% higher than this time last year.  Homes are still going under contract quickly with an average time on market of 5 days.  We are just now entering the summer selling/buying season so it will be interesting to see how the market responds over the next couple months.  The Tampa Bay area is still experiencing tremendous growth from buyers moving into the market.  If inventories continue to rise then we will likely see a plateau or slight pull back in average sale prices.

FOR SALE: 13311 MAPLE NUT LN, DOVER

 

Welcome to this meticulously maintained, well appointed home located on a premium Lakeview lot in Dover. Completely customized this home has exquisite details throughout. Including; tray ceilings, crown molding, travertine tile, and custom cabinetry. The entry way boasts wooden and rod iron statement doors and a clear view to the lanai and pool area. The interior features an open concept floor plan with the master bedroom, en suite and study/bedroom located on one side of the home for privacy. The kitchen is expansive and opens into the dining room and family room.The secondary bedrooms are spacious with ample closet space. There are two bathrooms located on this side of the home. The owner’s retreat and en suite features a dual head walk in shower, large soaker tub, dual vanities, a water closet, and walk-in closet. In addition, there is access to a concrete wall safe room/ storm shelter through the master closet. The outdoor space offers the best of florida living! Extra large pocket sliders open onto an over sized screen porch, custom pool and spa, and access to the pavered fire pit. The entire driveway and walkways feature pavers. The driveway is oversized perfect for any toys. Not to mention the huge 2000 sq ft air conditioned concrete block shop! Access to the lake is deeded and small water crafts are allowed. The entire property is irrigated, has St. Augstine grass, and mature landscaping. The entire property is fenced and the entry gate was installed in 2019 and adds another layer of privacy. The location allows for a quick commute between Tampa or Lakeland with easy access to I4 or I75. If you are looking for a unique property that meets everyone’s needs look no further!

 

4th Quarter 2021 Real Estate Market Update for Hillsborough County

The inventory problem continues… There are just not enough homes for sale currently in Hillsborough County.  We ended the 4th Quarter with a total of 1274 homes for sale.  This is 34% lower than Q4 2020.  It is truly incredible and making this a very difficult market for home buyers.  The average sales price increased to $443,396 a 20.7% gain year over year.  If you have any questions or would like to discuss the market in more detail please reach out to one of our team members.

3rd Quarter 2021 Real Estate Market Update for Hillsborough County

And the sellers market continues… The closed volume is in line with last year at this time with 6184 total sales.  Inventory is incredibly low with just over 1800 homes currently for sale.  This represents a .9 months supply.  The lack of supply is driving prices up.  The average sales price is $433,692 for a single family home in Hillsborough County.  An increase of 18.6% compared to Q3 2020!

If you have any questions or would like to receive a market analysis for your property please reach out to one of our team members.  We would love to help out!

Insurance can be problematic for homes with Solar Panels

Solar Roof Florida Real Estate

As power prices continue to rise more and more people will be looking to add solar panels to their homes.  This was an interesting article posted by the Florida Realtors.  If you’re considering having solar installed on your home you should defiantly check with your insurance carrier prior to starting the project.  The line that stuck with me after reading the article was, “And when you start drilling holes in a roof, it’s problematic”

https://www.floridarealtors.org/news-media/news-articles/2021/11/buyers-may-face-hidden-costs-homes-solar-power?utm_campaign=11-3-2021+Florida+Realtors+News&utm_source=iPost&utm_medium=email

 

SOLD: 6109 Plover Meadow

Welcome to Encore! The unique (and completely built out) David Weekely 55+ community. This home is like brand-new without the wait! It has two bedrooms, two bathrooms, and a separate office or flex space. The kitchen, dining, and living areas are an open floor plan making entertaining a breeze. The kitchen features quartz countertops, 42-inch cabinets, and a walk-in pantry. The master bedroom is spacious with oversized windows letting in plenty of natural light. The en suite has a walk-in shower and a separate water closet. The bathroom features upgraded tile and dual vanity. The master closet is enormous! There is space for everything and a special built-in shelf designed for luggage storage. The back porch is extended and offers a peaceful escape to enjoy your morning coffee. Encore features resort-style amenities, including pickleball courts, bocci ball, a fitness center, a pool, and plenty of outdoor spaces to relax. There are fitnesses classes available to residents like water aerobics. Encore is located inside Fishhawk West and residents are able to enjoy all of the Fishhawk West amenities. Don’t forget to stop by the Oasis clubhouse and the Lakehouse during your showing!

 

SOLD: 514 Westbrook Ave, Brandon

RARE OPPORTUNITY!! Business Zoning with a CHARMING fully Renovated Residential Home. Located in the Heart of Brandon on a large corner lot on Bryan Rd and Westbrook Ave seconds from HWY 60 and Lithia Pinecrest. With this oversized lot with low taxes, business overlay, & no HOA or CDD you can run your business, build a pool, a workshop, store your boat, trailers & RV, plant a garden, or whatever you can dream of on this one of a kind property. This historic home feels brand new as you walk through the front door and notice the crisp AC from the new Central Heating and Air Conditioning system, brand new luxury vinyl flooring throughout, and fresh Sherwin Williams paint on the new drywall. Everything inside the home was COMPLETELY redone including the new energy efficient PGT windows, freshly painted exterior, and metal roof. The interior was gutted down to the studs, fully permitted & inspected, and rebuilt new: interior framing, subfloor, insulation, electrical, plumbing, HVAC, drywall, flooring, kitchen cabinets, appliances, tile, doors, trim, etc. This layout was designed with efficiency in mind with every square ft being utilized to give you all the amenities in a home you need with no wasted space. The kitchen features solid wood cabinetry, granite countertops, a range with a double oven, an in-kitchen dining area, and 3 large windows to let in natural light and overlook your spacious back yard. The newly installed underground electrical service and county water are rare to find on a house like this. Mature oak trees shade the property and an existing large concrete slab with electrical and plumbing hookups is located at the back of the property, perfect for a new workshop or metal building. Own a traditional, Florida historic home with none of the worries about the maintenance and surprises that typically come with it. Do not miss the chance to own this one of a kind property!

For more information call Mike Moran at 813-523-0216 or email at mike@capxre.com.

MARKET UPDATE: 2nd Quarter 2021

The real estate market is hot, sometimes seems as though that’s all anyone wants to talk about these days! Here’s a couple pieces of real estate news you might want to know before tailgate season begins.

Hillsborough county is in a serious sellers market. The new inventory coming onto the market has increased. However it is neck and neck with the demand currently and that is what is keeping our inventory levels ridiculously low. There are currently just over 1500 homes for sale in all of Hillsborough county.

Another interesting thing with our market is that the current cash sales has increased 164% when compared to the second quarter of 2020!

The time to contract is currently at five days.

The average sales price for the 2nd quarter of 2021 is $429,944, an increase of 26% when compared to last year.

SOLD: 6931 Potomac Cir, Riverview

 

Beautiful 3 bedroom 2 bath house located in the desirable Lake St. Charles community. This home features French Travertine tile throughout with laminate wood floors in the bedrooms. The kitchen and bathrooms have been updated with granite countertops and new cabinets. The master bath has dual sinks and a separate fully tiled shower and jacuzzi style garden tub. The kitchen is spacious, with stainless appliances and farm house sink. The home has an open floor plan and new plantation shutters. Both the front and backyard have lush mature landscaping and pavers have been added to the back patio. Lake St. Charles features miles of nature trails as well as community amenities such as; a swimming pool and tennis courts. This home is conveniently located to shopping and entertainment. There is also quick and easy access to I75, the Crosstown Expressway and I4. Don’t let this home slip away, call today for a private showing.