Is the Tampa Bay real estate market in recovery mode?
According to Melanie Atkinson, with The Wood Team at Coldwell Banker , the answer is yes - to some areas.
Melanie looked into actual data to find out which zip codes have seen both large inventory drops, and a positive trend in average sale prices.
While every zip code experienced a decrease in inventory, only several showed a consistent increase in sale price.
Compared inventory/sales taken from June 2011 and June 2012
South Tampa - 33629 - Inventory decreased 29 percent from 200 to 142, with average sales price jumping 19.7 percent from $381,000 to $456,000
Brandon - 33511 - Inventory decreased 54.2 percent from 236 to 108, with average sales price jumping 22.2 percent from $108,000 to $132,000
Wesley Chapel - 33544 - Inventory decreased 37.9 percent from 161 to 100, with average sales price jumping 16 percent from $188,000 to $218,000
Oldsmar - 34677 - Inventory decreased 22.2 percent from 186 to 144, with average sales price jumping 43.8 percent from $137,000 to $197,000
St. Petersburg - 33701 - Inventory decreased 61.6 percent from 172 to 66, with average sales price jumping 97.9 percent from $194,000 to $384,000
"What I learned from doing this research is that the real estate market in the Tampa Bay area has begun taking steps in the right direction," said Atkinson. "Only time will tell whether these positive steps are being taken on solid foundation, or a sinkhole. I do encourage everyone out there to be optimistic about our real estate recovery. Hopefully, our future is as bright as our Florida sunshine."
For a more detailed breakdown of Melanie's tips for finishing touches on a home click here on the full story . You can also check out her real estate blog at http://westchase.patch.com/users/melanie-atkinson/blog_posts .
Melanie Atkinson is a realtor with The Wood Team at Coldwell Banker . She can be reached at Melanie@WoodTeamRealty.com.
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.