Tampa Bay Luxury Home Sales
Posted by Calum and Kathleen MacKenzie on Monday, June 7th, 2010 at 2:56pm.A recent Wall Street Journal Article
highlighted a rebound in luxury home sales in some markets through out
the country including, San Francisco, Las Vegas, Miami, and Manhattan.
Although Tampa has our share of celebrity mansions, see Tampa's largest
home, our luxury real estate market has never been at the level of the
cities mentioned in the WSJ article. Still, I thought it would be a
interesting to see how Tampa is performing relative to the rest of the
country.
After running the numbers, Tampa's luxury home market,
is not seeing significant gains like other parts of the country. The
chart below shows luxury home sales, the number homes sold at $1 million
or greater, for the first quarter of each year from 2004 to 2010.
Although there is a slight increase over 2009, 2010 first quarter luxury
home sales are still down 63.7%, compared to the peak in 2006. There
are currently 872 luxury homes for sale in Hillsborough, Pinellas, and
Pasco counties, which means at the current sales rate there is a 3.9
year supply of luxury homes on the market in Tampa Bay.
Related Links
Print
ShareBe the first to comment on this blog entry!
