I have been giving an overall view of the Tampa Bay Area in recent blogs. Now I want to get specific and go over market conditions in specific communities in my own backyard. Cheval is a gated community located off Dale Mabry Highway about 10 miles north of Tampa. Homes range from the low 200's to over 1,000,000.. As with most communities, homes were affected by the Real Estate downturn and prices and inventory went down to historically low levels. Things are looking up as you will see.
Inventory AnalysisPrior 7-12 Mos.Prior 4-6 Mos.Current-3 Mos.Overall Trend **
Total # of Comparable Sales (Settled) 39 24 12 Increasing | Stable | Declining
Absorption Rate (Total Sales/Mos.) 6.50 8.00 4.00 Increasing | Stable | Declining
Total # of Comparable Active Listings * 51 49 40 Declining | Stable | Increasing
Mos. of Housing Supply (Total Listings/Ab. Rate) 7.85 6.13 10.00 Declining | Stable | Increasing
Median Sale & List Price, DOM, List/Sale RatioPrior 7-12 Mos.Prior 4-6 Mos.Current-3 Mos.Overall Trend
Median Comparable Sale Price $242,500 $243,250 $256,500 Increasing | Stable | Declining
Median Comparable Sales Days on Market 31 38.5 56 Declining | Stable | Increasing
Median Comparable List Price $265,000 $275,000 $288,000 Increasing | Stable | Declining
Median Comparable Listings Days on Market 159 126 78 Declining | Stable | Increasing
Median Sale Price as % of List Price 97% 97% 95% Increasing | Stable | Declining
This data is provided by the Mid Florida Regional MLS. If you are a Cheval resident and would like a market analysis of your home, please give me a call at 813-406-4154
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