Hi everyone. This is your Tampa Bay Realtor Lance Mohr and in this video I'm going
to go over the Tampa housing market report for May 2018 and I'm gonna start
off I want to just thank everybody for watching these videos right here
especially getting educated and getting informed and what's going on in the
market I probably don't need to tell a lot of you how much I run across people
on a weekly basis on a monthly basis that just don't know what's going on
they're just not informed they think it's a much different market
so congratulations give yourself an a pat on the back you're doing a great job
so I want to go over the market statistics here can comparison over time
then I'm gonna talk to you sellers I'm gonna talk to you buyers and then I'm
gonna go over and give you a little bit more on the May statistics based off of
the price range so let's just start off right here under active homes they did
go up slightly and May which we figure they would were starting to get into the
summer months we're gonna start seeing more homes in the market now as far as
bank owns and short sales I'm really not going to talk about those anymore
because it's a thing in the past I've almost thought about removing these
fields but you know there'll be a thing again real estate always goes up and
down so we'll get to the pending listings the pending did go down or
slightly from April of thirty four ninety five to May of 3464 but it's
still at 85 percent and need to act if that's that's pretty impressive if you
look just back into the winter months you look in the October November
December it was 67 66 and 54 and then it's been ramping up you know ever since
then it was a little higher last month but it's still pretty incredible if you
look at this if you look at the sold right here they went up substantially I
was really surprised that they went up so much from April of 60
69 too many of over 2000 2041 that is huge it just goes to show you how busy
of a real estate market we're in if you look at the inventory or the supply and
demand whatever you want to call it it's at two months of inventory some people
call it depletion rate but the stable market a stable market is it six months
worth - so it goes to show you how tight this market is and the new home builder
market is even crazier so it is amazing again if you guys are looking for new
homes I have a lot of videos on it I'll put a link up above but the markets
really going crazy right now it's it is a seller's market I
personally wish it would stabilize into more of a stable market I don't really
care for seller markets I don't really care for buyer markets I just like where
everything's stable and prices are just increasing in at a good rate but anyhow
that's just me so let me go over some stuff for some
sellers I've been getting a lot of calls from from sellers for buyers about is
the market really good because I've been seeing a lot of homes on my street or in
my neighborhood and they've just been on the market for months and they're not
selling so I actually did a video on this if you have that question I would
highly recommend it I'll put a link up above and you could check that out but
it's a good video that will give you some in-depth stuff it really comes down
to the reason why in a nutshell is because people are just over pricing
their homes sellers are overpriced in their homes I
go into it a lot more in detail but if you're a seller you need to price your
home realistically you're just not going to get a crazy offer on your home if
you're a buyer you need to understand if the home is a nice home in a nice area
and it's a good price you need to pull the trigger if you want to go home and
sleep on it for a day for two days for three days the chances are very high the
home will get sold it doesn't make any difference it's a pre-owned
home or a brand-new home so just some input for you now let's go over to the
statistics on May and I'm not gonna read through everything here but let me just
give you a snapshot right here on the supply and demand overall I said it was
at about two months two point zero one months of inventory on the market but if
you're looking for a home between a hundred and two hundred thousand oh my
gosh you have some huge competition out there less than one month of inventory
0.98 that means there is so many buyers and keep in mind folks and I've said
this before if it's a nice home in a nice area in a nice price it's gonna go
because probably at least a third of all the homes on the market right now that
you're seeing on resale or overpriced and probably another third on
resale are just the condition does not justify the price the condition is just
not good so everybody's looking for the nice home in the nice area at the fair
price so look at that look over here from two to three hundred thousand this
is amazing one point six two months of inventory not even two months of
inventory in that price range again from three oh one to five staggering two
point seven five and this is one thing that just always blows my mind over a
half a million dollars you would think this would be up at ten months of
inventory it fourteen months of inventory because the price range is so
high there's not a lot of people that are able to afford a home like that
there's not a lot of fish in that pond and it's at two point six five months of
inventory which is incredibly well so these are the statistics if you like
this video do me a favor give me a thumbs up leave me a comment below and
check out some of my other videos if you have any questions don't hesitate to
contact me or if you're in the tampa bay area whether you're buying a new home a
pre-owned home or selling a home i'd love to talk to you i'd love to work
with you have a great day