The month of July shows no signs of slowing down in the Plant City’s real estatemarket. The area had 81 homes closed, 159 homes under contract and only 79 homes available to purchase. One concern is that our federal government is basically holding some of the available inventory hostage with the different moratoriums. The people they are intending to assist, will only be faced with higher purchase costs and a more intense demand. The unobstructed real estate supply and demand functions of our economy will prevail.
This month’s average selling price was $316,108 compared to $274,103 last month, a 15 percent price increase over the previous month and a 29 percent increase from the beginning of the year. The better news is that median price has increased to $295,000. That means that half the homes sold last month were higher than $295,000. The average days to contract have decreased to 7.9 days in July versus a year-to-date average of 18.5 days, meaning properties are going under contract quicker.
When we look at the average selling price per square foot, July 2021 was $166.25 per square foot, which was a slight reduction from the previous month of June. The area continues to have limited inventory, currently running about 26 days, but I really do not see any downside to the market anytime soon. The 30-year mortgage rates continue to stay in the low 3’s, employment rates are rising as pandemic conditions subside and the people relocating to Florida still on the rise.
Your main concern if in the market to buy or sell a property is to team up with a seasoned real estate professional to assist you in navigating through the entire process.
Sales Snapshot
The following properties were a sample listed as sold on the Greater Tampa Realtors Association MLS in July 2021.
The home at 1606 W WASHINGTON ST sold July 28 for $112,501. Built in 1958, it has 3 bedrooms, 1 bath and 1232 square feet of living area.
The home at 2007 GREENWOOD VALLEY DR sold July 14 for $173,000. Built in 2014, it has 3 bedrooms, 2.5 bath and 1649 square feet of living area.
The home at 243 ALEXANDER WOODS DR sold July 30 for $211,000. Built in 2015, it has 3 bedrooms, 2 bath and 1798 square feet of living area.
The home at 601 S LINCOLN ST sold July 14 for $235,000. Built in 1998 it has 3 bedrooms, 2 bath and 1383 square feet of living area.
The home at 1100 N NANCY TER sold July 9 for $247,000. Built in 1966, it has 4 bedrooms, 2 bath and 1257 square feet of living area.
The home at 2914 CLAY TURNER RD sold July 2 for $270,000. Built in 2001, it has 4 bedrooms, 2 baths and 2350 square feet of living area.
The home at 6709 FIVE ACRE RD sold July 19 for $295,000. Built in 1984, it has 3 bedrooms, 1 bath and 1302 square feet of living area.
The home at 3309 SAN MOISE PL sold July 26 for $305,000. Built in 2016, it has 4 bedrooms, 2 baths and 1767 square feet of living area.
The home at 3222 S NORTHVIEW RD sold July 25 for $325,000. Built in 2018, it has 5 bedrooms, 3 baths and 2674 square feet of living area.
The home 3445 SILVER MEADOW WAY sold July 7 for $343,000. Built in 1993, it has 4 bedrooms, 2 baths and 1843 square feet of living area.
The home at 2623 HOLLY BLUFF CT sold July 25 for $377,000. Built in 2012, it has 4 bedrooms, 2.5 baths and 2456 square feet of living area.
The home at 3430 KNOXVILLE PL sold July 28 for $435,000. Built in 2015, it has 4 bedrooms, 2 baths and 2350 square feet of living area.
The home at 2509 CLUBHOUSE DR sold July 16 for $482,000. Built in 1994, it has 4 bedrooms, 3 baths and 2966 square feet of living area.
The home at 3022 SUTTON WOODS DR sold July 9 for $599,000. Built in 1999, it has 5 bedrooms, 4 baths and 3712 square feet of living area.
The home at 4006 HEATHCOE RD sold July 23 for $658,000. Built in 1995, it has 4 bedrooms, 3.5 baths and 3382 square feet of living area.