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/