Local Housing Market Conditions - January 2020

In this newest release of the home sales report for Hillsborough County, all indications are that the local market remains a very strong Seller’s market. The available inventory remained at 2.2 months’ worth, below the 6 months’ worth of inventory needed for Buyers and Sellers to be on equal footing.

The median and average sales prices have appreciated healthily over the last year as well. The median price is the more accurate number because it is the point where half the sales in Hillsborough County were higher, and half were lower, whereas the average takes all sales prices into consideration. Just one or two really high priced listings will skew this number.

It is definitely a great time to sell, but also a great time to buy based on the current mortgage rates! Just be prepared to offer close to list price - assuming the list price is in line with the comps - and to possible multiple bid situations.

Keep in mind that if you love the property, chances are someone else does too.