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.
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/