August, 2012 Real estate market report for New Tampa

• Our local MLS* reported that 77% of the single family homes reported sold in July in New Tampa (zip code 33647) were "normal" sales.  Shorts Sales/Pre-foreclosures made up 15% and REO/Bank owned (Foreclosures) made up 8% of the total reported sales.
• New conventional mortgages were used to purchase 60% of the homes, 15% were new FHA loans, 8% were new VA loans and 17% were purchased with all cash.
• The lowest sales price per square foot was $47.50 for a home in Heritage Isles with possible Chinese dry wall to a high of $187.20 for a newly constructed home in Grand Hampton.  The average sales price/list price ratio was 97%.
• Sold prices ranged from $102,000 for a 1,298 sq. ft. REO/Bank Owned (Foreclosure) in Cross Creek to $818,000 for a 6,807,  8 bedroom 7+ bathroom pool home in Tampa Palms.

Currently there are over 340 single family homes for sale in New Tampa (Zip code 33647) with prices ranging from $107,400 for a 1,392 sq. ft. home to over $2,000,000 for homes in Tampa Palms with over 9,000 sq. ft.  79% of the single family homes on the market in New Tampa are not distressed sales.

*Information provided by MLS deemed reliable but not guaranteed