Single-family homes remain on the rise for the greater Tampa Bay area, while sales of townhouses and condominiums continue to slip.
Just under 3,600 homes sold in the region that includes Pasco County last month, according to Florida Realtors, up nearly 4 percent from a year ago. That’s despite the median sales price staying the same at $160,000.
Condos dropped a little more than 1.5 percent to 1,170 units, while the median price there jumped more than 15 percent to $115,000, compared to 2013.
Statewide, single-family home sales are up 4.2 percent, while the median price rose 3.4 percent.
“For several months now, stability and consistency are key trends we’re seeing in Florida’s housing market, as the state’s jobs outlook remains steady and the economy continues to grow,” said Sherri Meadows, the president of Florida Realtors, in a release. “The statewide inventory (active listings) for single-family homes last month rose 13 percent year-over-year, while the townhouse-condo inventory of active listings rose 8.9 percent.”
The statewide median price for a condo was $135,000, compared to $115,000 locally. The national median price for a condo is $215,700, while the national median for a single-family home was $223,900. That’s led by California with a median of $464,750.
Short sales in the single-family home market dropped more than 49 percent from last year. Closed sales typically are occurring 30 to 90 days after sales contracts are written, according to the group.
Inventory was at a 5.5-month supply in August, while condos were at a 5.7-month supply. The interest rate for a 30-year fixed-rate mortgage averaged 4.12 percent in August, according to Freddie Mac, down from the 4.46 percent average recorded a year ago.
