8 minute read
LOCAL MARKET STATS
Single Family Homes
Closed Sales Median Sale Price Median % of Original List Price Received Median Time to Contract Inventory (Active Listings) Months Supply of Inventory
Townhouses/Condos
Closed Sales Median Sale Price Median % of Original List Price Received Median Time to Contract Inventory (Active Listings) Months Supply of Inventory
Single Family Homes
Closed Sales Median Sale Price Median % of Original List Price Received Median Time to Contract Inventory (Active Listings) Months Supply of Inventory
Townhouses/Condos
Closed Sales Median Sale Price Median % of Original List Price Received Median Time to Contract Inventory (Active Listings) Months Supply of Inventory
JUNE 2020
2,089 $275,000 98.7% 28 Days 2,791 1.6
JUNE 2020
626 $194,450 97.9% 28 Days 993 2.0
JUNE 2019
2,077 $263,462 97.8% 25 Days 4,650 2.7
JUNE 2019
523 $176,000 97.1% 28 Days 1,262 2.6
% Change 0.6% 4.4% 0.9% 12% -40.0% -40.7%
% Change 19.7% 10.5% 0.8% 0% -12.3% -23.1%
JUNE 2020 4,851 $269,000 98.1% 29 Days 6,582 1.6
JUNE 2020
1,600 $192,000 96.8% 37 Days 3,425 2.5
JUNE 2019
4,644 $250,000 97.2% 27 Days 11,049 2.7
% Change 4.5% 7.6% 0.9% 7.4% -40.4% -40.7%
JUNE 2019 1,462 $173,000 95.8% 36 Days 4,218 3.0
% Change 9.4% 11.0% 1.0% 2.8% -18.8% -16.7%
tamparealtors.org
The Real Estate Industry Around the Globe How COVID-19 has Affected the Global Market
According to independent real estate consultancy, Knight Frank, average home prices grew in 55 countries during the first quarter of 2020. Many housing markets around the world entered the COVID-19 pandemic strong. With the stay-at-home restrictions have lifted and countries are reopening, how are those markets doing now?
Let's start with the United States. The National Association of REALTORS® reports that 9 out of 10 REALTORS® "are at some point of recovery in their market." The REALTOR® Resiliency Report findings also suggest that buyers are now looking for more space and would like to live in rural or suburban areas.
Real estate in the United Kingdom. is thriving. Many sellers are hoping to get their home on the market for a summer sale. Like the U.S., buyers are now in search for a home that offers more space (i.e. larger gardens and home offices) as well as something that is outside of the city.
Although the housing market in Australia was hot before the pandemic, certain sectors of the market were still recovering from the 2018 downturn when the market was put on a standstill due to the coronavirus. Currently, real estate professionals who primarily work with first-time homebuyers are recovering faster than those in other sectors such as luxury real estate market.
As countries such as the U.K. and U.S. implemented lockdowns, wealthy individuals flocked to the Bahamas for quarantine. With more companies switching to an optional work from home structure, the Bahamas is expected to see an increase in foreign investment. In Egypt, the lockdown occurred during what is known as peak season for real estate (March - May). Now that the country has eased up on the lockdown restriction, commercial real estate professionals are seeing a high demand for medical facilities.
Real estate activity has returned to “normal” in France. The eight-week lockdown has helped renters realize they want to buy a home. Many buyers and sellers are also interested in relocating to a different area.
The unpredictability of COVID-19 as well as factors such as high unemployment and low immigration will be the biggest hurdles global real estate markets will face in the coming years, according to Reuters.
Sources: 10 Agents from Across the Globe Talk About Getting Back on Track (Inman Select) Global Housing Markets Ensnared by Pandemic’s High Unemployment: Reuters Poll (Reuters) REALTORS ® Resiliency Report (National Association of REALTORS®)
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Luxury Homes $ From the 300s
Community Outreach rises above
by John Daux, GTR Community Outreach Chair
The Community Outreach Committee continues to rally members to represent Greater Tampa REALTORS® (GTR) doing good in the community despite the challenges of COVID-19. Members graciously participated to support the campaigns for Everyday Blessings Inc. and Habitat for Humanity of Hillsborough.
On May 28, the Committee partnered with the Pasco Relations Advisory Board to host a GoFundMe campaign to support the foster care services provided through Everyday Blessings Inc. Everyday Blessings Inc. is a nonprofit foster care center based in Lithia Springs, Florida. The agency is a foster care group home that serves up to 30 children coming from various areas. The children ages range from newborn through 17 years of age, come from all economic backgrounds and ethnic groups, and have been removed from their previous homes due to abuse, neglect or abandonment.
In a single week, GTR members, affiliates and staff helped to raise $1,735 for the nonprofit agency through its GoFundMe campaign. Also, from June 4 - 5, Association members dropped off more than $500 of groceries and cleaning supplies to the GTR offices in Tampa and Zephyrhills. Social distancing precautions were taken to assure a safe drop-off of the donations.
Richard Stroud, Executive Director of Everyday Blessings Inc., stated that the nonprofit “is beyond appreciative of the efforts by the Greater Tampa REALTORS®. It’s campaigns like this that allow us to provide a nurturing and loving environment for our children. The food and supplies are always in need and cash donations allow us to meet many different needs as they arise.” Later that month, on Tuesday, June 30, GTR sprang into action for the conclusion of the Real Estate Build with Habitat for Humanity of Hillsborough (HFHH). 2020 President Darlene Davenport and 2020 Vice-Chair of the Community Outreach Committee Keianna Carty (KC) were part of HFHH's video production celebrating the Real Estate Build. GTR is the first title sponsor for the inaugural Real Estate Build. The Association’s leadership was proud to be able to assist Ms. Alexis Barnes and her two sons (a toddler and a pre-teen) become homeowners. With masks adorned, Ms. Barnes invited GTR members inside her home. President Davenport also presented Ms. Barnes with a GTR housewarming gift. She was greatly appreciative of the kindness shown to her family. Along with nine other new homeowners, Barnes dedicated many hours of sweat equity to build a home in the revitalized University Area community. As families stood in front of their beautiful, newly built HFHH homes, they were greeted with honking horns and gleeful waves as decorated cars drove along the street in front of the single block of homes (visit GTR’s YouTube Channel to watch the video produced by GTR’s Communications Department).
To commemorate the 2020 title sponsorship, HFHH’s Chief Development Officer Richard Rogers presented a beautifully engraved souvenir hammer and HFHH seal that were mounted and encased in a black shadow box. President Davenport accepted the gift of appreciation on behalf of GTR. Although members were unable to physically engage the project, Rogers assured Davenport that GTR members will have another opportunity to have a hands-on, boots-on-the-ground experience in another Real Estate Build opportunity as soon as conditions improve.
There are so many of you (REALTORS®, Affiliates and staff) who did an awesome job in answering the call to action; we thank you. But we’re not done yet! The Community Outreach Committee will engage in a few other projects before the year ends. We look forward to having many more of you participate in upcoming projects to send a resolute message that REALTORS® give back and support
our communities. In the meantime, please stay safe.
If recent events have taught us anything, it’s this: we have more work to do. Racism is real, tragically so. Discrimination, in all its forms, still casts a long shadow in this country, and too many are being denied the opportunities that all Americans deserve. Our commitment to the diverse communities we serve starts with a Code of Ethics. Our code sets a higher standard for fairness in housing than any federal law, it’s backed by a culture of member accountability, and it extends to our work on Capitol Hill, where we continue to advocate for meaningful change. At the National Association of REALTORS® we believe that fairness is worth fighting for, and we won’t stop until the fight is won. Because that’s who we are.
If you experience or witness discrimination in real estate, we urge you to report it.
Visit hud.gov/fairhousing to file a complaint with the Department of Housing and Urban Development.
