Insights

JOSEPH-LEWKOWICZ, TAMPA-FLORIDA, REAL-ESTATE, 2

5-year market trend for Cheval (November 6, 2019)

JOSEPH-LEWKOWICZ, TAMPA-FLORIDA, REAL-ESTATE, 1Cheval is a gated golf course community of slightly more than 1,100 homes in the Northwest Tampa area, bordered by Dale Mabry to the east and extending west past the Veterans Expressway. Originally developed in the mid-1980s, Cheval has two golf courses and a mix of upper scale homes.

All sales in this report were closed from April 1st to September 30th of each year and were built from 1980-2010. The number of homes closed in this time period was steady for most years with sales ranging from a low of 46 homes sold to a high of 53 homes sold. Median sale prices were used as they tend to reflect the market better than average pricing. The median sized homes in the area each year were similar with sizes ranging from 2,705 sq. ft at the lowest year to 2,861 sq. feet at the largest.

As can be seen from the graph, the median price for the homes went up most years, with a total appreciation of 18% in 5 years. The median cost per square foot of living area is often a more accurate measure of the market. This increased steadily from $149/ft in 2015 to $174/ft this year.

JOSEPH-LEWKOWICZ, TAMPA-FLORIDA, REAL-ESTATE, 2The 5-year trend is important to see what the overall market is for an area over time.

Please note that using cost per foot for an individual sale can be misleading unless the homes compared to it are very similar. This is especially true in Cheval where both home and lot sizes can vary greatly.

If you would like to know more about this area or any other neighborhood feel free to contact me.

Stress is one of the largest concerns when selling a home. Staging, managing finances and documents, and simultaneously juggling the rest of your life can be completely draining. However, one thing is certain about selling your home: it’s a lot easier when you have a solid real estate agent to handle it. Remember, No-One Works Harder to Sell your Home more than Joe! Contact Joe today by calling 813-908-7293 or visit https://josephlewkowicz.com/

JOSEPH-LEWKOWICZ, TAMPA-FL, SELL-YOUR-HOME,2

Sale Comparison for Northwest Hillsborough (November 1, 2019)

JOSEPH-LEWKOWICZ, TAMPA-FL, SELL-YOUR-HOME,1

Last week I posted an article about the 5-year market trends for Original Carrollwood. This week I am covering Carrollwood Village. Carrollwood Village is located just west of Dale Mabry and extends on either side of Fletcher (South Village Dr and West Village Dr) to Turner Road. The neighborhood was started around 1974 with most of the homes being built between 1978 and 1985. It is built in 3 phases with a couple of other areas attached. Phase 1 is closest to Dale Mabry and many of the homes there are located on the golf course. Most of the homes in this phase are custom builds. Phase 2 is in the middle section and phase 3 is the newest and most western part of Carrollwood Village. Phase 2 features builders such as Arthur Rutenberg, Van Horn, Levitt, and other custom builders. Phase 3 has some custom areas such as Diamond Head. Many of the other homes in this phase were built by US Homes Rutenberg division.

All sales in this report were closed from April 1st to September 30th of each year. All were built from 1974-1990. The number of homes closed in this time ranged from 51 closed to a high of 72 closed sales. Median prices were used as they tend to reflect the market better than average pricing. The median sized homes in the area each year were similar with sizes ranging from 2,376 sq. ft at the lowest year to 2,570 feet at the largest. The homes in this area compared to Original Carrollwood tend to run about 400-500 sq. ft larger.

As can be seen from the graph, the median price for the homes went up most years, with a total appreciation of 24% in 5 years. As the graph shows, the median price dropped from 2018 to 2019 by $10,000. The median cost per square foot of living area is a more accurate measure of the market. This increased steadily from $129/ft in 2015 to $160/ft this year. The 5-year trend is important to see what the overall market is for an area over time.JOSEPH-LEWKOWICZ, TAMPA-FL, SELL-YOUR-HOME,2

Please note that using cost per foot for an individual sale can be misleading unless the homes compared to it are very similar, especially in neighborhoods where lot location and condition of the home can have a significant impact on a home’s value.

If you would like to know more about this area or any other neighborhood feel free to contact me.

Stress is one of the largest concerns when selling a home. Staging, managing finances and documents, and simultaneously juggling the rest of your life can be completely draining. However, one thing is certain about selling your home: it’s a lot easier when you have a solid real estate agent to handle it. Remember, No-One Works Harder to Sell your Home more than Joe! Contact Joe today by calling 813-908-7293 or visit https://josephlewkowicz.com/

JOSEPH-LEWKOWICZ, 1

Sale Comparison for Northwest Hillsborough (October 28, 2019)

JOSEPH-LEWKOWICZ, Areca 11509 (old Carrollwood)

A Tampa Bay Times article this past weekend prompted me to look up information for specific neighborhoods that I sell in Northwest Hillsborough county. In the article, zip codes were shown with the percentage price increase they had from 2018 to 2019.

I wanted to go a little more in-depth for these neighborhoods and will be writing about the valuations in them in the coming weeks. In this first report about what is termed Original Carrollwood, I used homes that were built from 1960 to 1975. None were on Lake Carroll. However, I did include some streets including Lindelaan, Hampton Pl and Woodsong Way, that are not legally considered Carrollwood. All sales were closed from April 1st to September 30th of each year. The number of homes closed in this time ranged from 21 closed to a high of 30 closed sales. Median prices were used as they tend to reflect the market better than average pricing. The median sized homes in the area each year were similar with sizes ranging from 1,913 sq. ft at the lowest year to 2,090 feet at the largest.

As can be seen from the graph, the median price for the homes went up most years, with a total appreciation of 34% in 5 years. As the graph shows, there was a drop in the median price in 2018 with an increase again in 2019. I have found the median cost per square foot of living area, is a more accurate measure of the market. This increased steadily from $136/ft in 2015 to $177/ft this year. Note: Using cost per foot for an individual sale can be misleading unless the homes compared to it are very similar.

JOSEPH-LEWKOWICZ, 1

If you would like to know more about this area or any other neighborhood feel free to contact me.

Stress is one of the largest concerns when selling a home. Staging, managing finances and documents, and simultaneously juggling the rest of your life can be completely draining. However, one thing is certain about selling your home: it’s a lot easier when you have a solid real estate agent to handle it. Remember, No-One Works Harder to Sell your Home more than Joe! Contact Joe today by calling 813-908-7293 or visit https://josephlewkowicz.com/

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Sale Comparison for Northwest Hillsborough (October 2019)

Home sales are cyclical, varying by season, depending on where the properties are located. Northwest Hillsborough is considered a suburb of Tampa and is defined by a short commute to the main business districts of Downtown Tampa and the Westshore/International Airport area. The market so far this year has been typical with the number of sales peaking in May and July and declining to their low point in January.

Screen Shot 2019-10-11 at 12.22.07 PMFrom contract to closing, this usually takes 30 – 45 days, which means these closings represent sales that were done in April and June. Many buyers have families and want to get settled in time for school, making this one of the driving forces for home sales.

Screen Shot 2019-10-11 at 12.22.17 PMThe median price of homes in Northwest Hillsborough varied considerably by month. January was the low point with a median price of $295,000 and July the highest at $357,000. The trend, however, was upward for most of the year.

Cost per square foot of living area may be the most reliable indicator of general market conditions for the area. As can be seen from the graph above, the trend in C/F has been upward the entire year. As an example, a typical 2,000 sq. ft home last October would have sold for $307,000. As of the end of September 2019, that same house would be $326,000, an increase of $19,000 or a little over a 6% gain in value in the last year.

image 1
15118 Springview Tampa, FL 33624
Carrollwood Springs
2,056 sq. ft. | No pool
Previous sale: May 2014 price of $198,000
Closed: August 2019 price of $299,000 (8% year over year price increase)

Current inventory levels as of October are 705 total homes actively for sale and 334 under contract. The market remains very strong below $200,000 for single-family homes with only 16 active listings on the market and 21 under contract. In the $200-400k range, there are 299 active listings and 187 under contract. In the last 90 days, there were 520 closings in this price range, putting the monthly supply of homes at 2.8 months of supply in the $200-400k price range. Above $1 million there are 86 active homes on the market and 5 under contract.

If interest rates continue to remain low, the market should remain steady with a steady increase in sales price in Northwest Hillsborough. The amount of increase will vary considerably depending on the price range and the neighborhood.

Stress is one of the largest concerns when selling a home. Staging, managing finances and documents, and simultaneously juggling the rest of your life can be completely draining. However, one thing is certain about selling your home: it’s a lot easier when you have a solid real estate agent to handle it. Remember, No-One Works Harder to Sell your Home more than Joe! Contact Joe today by calling 813-908-7293 or visit https://josephlewkowicz.com/

JOSEPH-LEWKOWICZ, AUGUST-2019, 1

Sale Comparison for Northwest Hillsborough (August 2019)

Home sales in Northwest Hillsborough remain steady, with sales in July slightly higher than in June. There were more homes closed in June of 2018 than any of the other months. The median price for the entire area has increased by $25,000 from July 2018 to July 2019, and the number of days on the market remains the same for both years.

Included in this month’s sale comparison is a breakdown of inventory levels in various price ranges. Months of inventory is a measure used by relocation companies and real estate analysts to determine the state of the market. A lower price range means there is a higher turnover.

Many analysts note that a four to six month level of inventory is a balanced market and is neither buyer or seller oriented. Under four months of inventory is a very strong seller market, such as the below $400,000 range in this report. Above six months of inventory, the market is more buyer dominant and pricing needs to be stronger to make a sale. The overall market is mostly seller-oriented with the upper end being less friendly to sellers than buyers. The strength of the market has to be looked at compared to past months. Several months ago, the inventory level of homes below $200,000 was only two month’s supply of homes for sale.

Many factors affect the market and the demand for homes. With interest rates at their lowest point in years, the market has remained strong, which still makes it a good time to buy. With a ¼% drop in the mortgage rate, a buyer can afford approximately a 3% more valuable home. Fannie Mae mortgage rates were 4.4% in January, compared to 3.6% as of today. With this .8% drop in rates, a buyer that could only afford a $300,000 mortgage in January can now afford a $330,000 mortgage. This creates a huge difference in buying power.

The market should remain steady for the rest of the year with the potential for interest to drop just a little, but this is hard to predict. I encourage buyers who have been looking for a home to take advantage of these low interest rates while we have them.

Stress is one of the largest concerns when selling a home. Staging, managing finances and documents, and simultaneously juggling the rest of your life can be completely draining. However, one thing is certain about selling your home: it’s a lot easier when you have a solid real estate agent to handle it. Remember, No-One Works Harder to Sell your Home more than Joe! Contact Joe today by calling 813-908-7293 or visit https://josephlewkowicz.com/

JOE-LEWKOWICZ, JULY-MARKET-ANALYSIS, BLOG, 1

Sale Comparison for Northwest Hillsborough (July 2019)

The defined area is Busch Blvd to the south, State Road 54 to the north, Livingston to the east, and Pinellas county line to the west; neighborhoods include Westchase, Cheval, Carrollwood, Carrollwood Village, and Northdale.

There were 429 single-family homes sold in June of 2019 and decreased from 2018 with 458 sales. Median sales prices increased by $5,000 to $330,000 from $325,000 the year before. There was a drop in closed sales from May with 486 closings to June with 429 closings, an 11% decrease in sales. However, closings were stronger in June than in April. In years past, I have often seen May with more closed sales than June. New construction closings were flat from 2018 to 2019, with 42 closings in both years. The median cost per sq. ft in June is $153/ft. As always, I recommend that cost per sq. ft. only be used as a guideline, as many other factors can determine the actual value of a property.

Average days to a contract are very low for the area, with median days being 18 to receive a contract. Foreclosures and short sales remained an insignificant number of sales with 12 foreclosed sales and only 2 short sales.

As of today, there are 1,040 active listings for sale, the same as in the June report.

Depending on the price range and the area, the current real estate market remains robust. As expected, the lower the price the more demand. Usually, June and July are the best sales months. I look forward to comparing future sales months to these current ones.

Stress is one of the largest concerns when selling a home. Staging, managing finances and documents, and simultaneously juggling the rest of your life can be completely draining. However, one thing is certain about selling your home: it’s a lot easier when you have a solid real estate agent to handle it. Remember, No-One Works Harder to Sell your Home more than Joe! Contact Joe today by calling 813-908-7293 or visit https://josephlewkowicz.com/

JOSEPH-LEWKOWICZ, JULY-2019, 1

Broker Notes (July 2019)

Thank you for opening my July Broker Notes. This is mailed to just under 20,000 homes in Northwest Tampa and is now offered in digital form. All of the homes listed are my current listings and sales. I do not have any other advertising except for my properties. Some of the current list prices may have changed. However, you can find the correct price through my website.

The current Northwest Tampa market has remained as a seller market with 1040 active homes on the market and 649 homes under contract. In the month of June there were 429 closed sales with a median sale price for the area of $330,000. Average days to contract is 18 days, compared to 32 days in April. Typically, June and July sales are the quickest to go to contract.

To get your free digital edition of July’s Broker Notes, please visit: https://issuu.com/ibossadvertising/docs/190628?fr=sMWI4NjU1NDQ

Looking to list your home for sale? Contact Joe today by visiting: https://josephlewkowicz.com/seller-profile/

For more insights visit: https://josephlewkowicz.com/portfolio/market-studies/

For more information, please call (813) 701- 2030 or email joelewk@me.com

JOE-LEWKOWICZ, JUNE-2019, BROKER-NOTES, BLOG-2

Broker Notes (June 2019)

This newsletter, “Broker Notes,” has been sent to 18,000 homes in Northwest Hillsborough for almost 20 years. We now offer it online along with a recap of the market, as it is on the day we send it. I hope you enjoy reading it. If you have questions about the real estate market in this area, please contact me. My information can be found below.

Sales in the area for May 2019 were 2% more than May of 2018. The median cost per square feet in $152 per foot for the entire area. During this period, the average days on the market to get a contract was 32 days.

The number of foreclosures and short sales remained insignificant with just eight foreclosure sales and only one short sale.

As of today’s date, there are 971 active listings for sale, compared to 956 a month ago. There are currently 707 homes under contract, compared to 751 last month.

To get your free digital edition of June’s Broker Notes, please visit: https://issuu.com/ibossadvertising/docs/190601?e=19299272/70497764

Looking to list your home for sale? Contact Joe today by visiting: https://josephlewkowicz.com/seller-profile/

For more insights visit: https://josephlewkowicz.com/portfolio/market-studies/

For more information, please call (813) 701- 2030 or email joelewk@me.com

JOE-LEWKOWICZ, TAMPA-FL, REAL-ESTATE, 1

Sale Comparison for Northwest Hillsborough (June 2019)

The Northwest Hillsborough area is defined as Busch Boulevard to the South, State Road 54 to the North, Livingston to the East, and Pinellas County line to the West. The neighborhoods in this area include Westchase, Cheval, Carrollwood, Carrollwood Village, and Northdale.

A total of 467 single-family homes closed in May 2019, an increase from 2018, which saw 458 sales. The median price increased by 5.1% from the previous year, reaching $318,900. Closed sales were higher than in April, which is usual for this time of year. New construction closings increased dramatically from the previous year, with a 64% increase in the number of sales.

The median size home is 2,172 square feet with a median cost of $151 per square foot, a $3 increase from the previous year. I advise caution when using the cost per foot to determine the value of a home, as it can be misleading when determining the value of a home. There are many factors to look at including lot size, updates, improvements, location, etc.

Above the $500,000 price range, there were 10% fewer sales than last year in the same monthly period. This was also the case in April.

For all homes, the median days on the market was 25 days, an increase from 2018, but not significant. Below the $300,000 price range, homes were on the market for only 18 days, and above the $500,000 price range homes spent 49 days on the market.

Foreclosures and short sales remained an insignificant number with 11 foreclosed sales and only one short sale. This is good news compared to several years ago when almost 25% of sales were either a foreclosure or a short sale.

As of today, there are 1,040 active listings for sale, compared to 971 a month ago. There are currently 702 homes under contract.

Depending on the price range and the area, the current real estate market remains robust. As expected, the lower the price, the more demand. Usually, June and July are the best sales months. I look forward to comparing future sales months to these current ones.

Stress is one of the largest concerns when selling a home. Staging, managing finances and documents, and simultaneously juggling the rest of your life can be completely draining. However, one thing is certain about selling your home: it’s a lot easier when you have a solid real estate agent to handle it. Remember, No-One Works Harder to Sell your Home more than Joe! Contact Joe today by calling 813-908-7293 or visit https://josephlewkowicz.com/

JOSEPH-LEWKOWICZ, TAMPA-REAL-ESTATE, MAY-2019-BLOG-2

Broker Notes (May 2019)

My area of specialization is Northwest Hillsborough County. The newsletter, Broker Notes, is sent to 18,000 homes. We now offer it online along with a recap of the market as of the date we sent it. I hope you enjoy reading it. If you have questions about the real estate market in this area, please contact me. My information is below.

For this area, the number of sales closed for the month of April 2018 to April 2019, were the same. However median price had increased for the area from $305,000 in 2018 to $315,000 in 2019: a 3.3% increase from the previous year. Closed sales were higher in March of this year than they were in April with 391 closed sales in March compared to 362 in April. Median price, however, had increased in the month from $301,000 to $315,000.

In the higher price range above $500,000, there were also more sales last year compared to this year with 50 homes sold in 2018 compared to 36 this April. The number of new construction sales was the same for both years. The median price was higher this year compared to last year by $10,000 to $315,000: a 3.3% increase in price. This rate of price appreciation is about the same rate as inflation and is usually good for a sustainable real estate market.

Foreclosures and short sales remained an insignificant number of sales with 11 total for both types of sales.

As of today’s date, there are 971 active listings for sale, compared to 956 a month ago. There are 707 homes under contract now, compared to 751 last month at this time.

To get your free digital edition of May’s Broker Notes, please visit: https://issuu.com/ibossadvertising/docs/earlymay2019brokernotes_c5fcfa7a38503f?e=19299272/69869908

Looking to list your home for sale? Contact Joe today by visiting: https://josephlewkowicz.com/seller-profile/

For more insights visit: https://josephlewkowicz.com/portfolio/market-studies/

For more information please call (813) 701- 2030 or email joelewk@me.com