Monday, January 09, 2012

Less distressed home sales in New Tampa

Single family home sales for New Tampa (Zip code 33647) reported in our local MLS showed that "normal" sales (Not distressed) averaged 68% of the total sales for 2011.  Short Sales & REO/Foreclosures each made up 16% for a total distressed sales of 32% for 2011.  It should also be noted that normal sales showed higher monthly sales %'s in the second half of the year as reflected in the chart below:

In 2011 New Tampa had a significantly lower percentage of reported distressed sales of 32%, compared to the rest of Tampa.  52% of all reported single family home sales in Tampa (excluding New Tampa) for 2011 were "distressed" sales; 32% were REO's/Foreclosures; and 20% were Short Sales/Pre-foreclosures. *

Currently, 69% of the single family homes listed for sale in New Tampa are "normal sales", and 31% are distressed sales.

*Information reported in MLS deemed reliable but not guaranteed.

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