Wesley Chapel Market Update (8/16-22, 2021)

🏡 This week's Wesley Chapel Weekly Market Update from Aug 16 to Aug 22, 2021, is specific to Single Family Homes.⁠
HIGHLIGHTS⁠
📉 We are still super low on inventory for Single Family Homes.⁠
📈 Both Wesley Chapel and the Tampa Bay area as a whole are above the asking price.⁠
💪 Clearly still a very strong seller's market!!!

Hi, and welcome to the Weekly Wesley Chapel market update for August 16th through August 22nd. I'm specifically referring to single-family homes in today's update.

I'm Tami Savage with the eXp Realty.

Just so we're on the same page when I speak of Tampa Bay Area, I'm referring to the Tri-County area of Pasco, Pinellas, and Hillsborough counties.

All right, so a week and a half ago, I reported that we were at almost three months of inventory, which was true, but two things;
(a) that was referring to residential, not just single-family homes.
And the second issue is that, apparently, I was kidding because we have started to heat back up.

Wesley Chapel is about one and a half months whereas the Tampa Bay Area is just a tad over one and three quarters.

It's still high demand, low supply. So it's still definitely a very strong seller's market.

Okay, so now, as far as sold pending, and inactive. Wesley Chapel had 36 sold, pending 57, and active were 19. Tampa Bay had 830 sold, pending was 1,186, and active was 3,349.

Active days on market. Wesley Chapel is a little more than half of Tampa Bay with 8.75 active days on market. Whereas Tampa Bay is 14.28.

Average sell price. Wesley Chapel is $404,579, and Tampa Bay is at $459,630.

And median sale price. Wesley Chapel is $370,000, and Tampa Bay $360,000.

And then selling price versus list price. Wesley Chapel is still seeing about a 3% selling price above the asking price, and Tampa Bay is getting about 1%, which means it's really great for sellers.

So anyway, if you have any other questions, if you'd like to know something else that I can help you with, please don't hesitate to reach out.

I look forward to talking with you, and you have a fantastic day.

Bye.