| If you are interested in buying or selling a home in | | | | Association of Realtors began tracking this data |
| the Tampa area, or anywhere else in Florida, it is | | | | that media sales prices on residential real estate |
| important for you to consider current market | | | | has declined. Of course, on many levels this is a |
| trends as well as projections into the future. As | | | | startling statistic. |
| with many other things in life, the timing of a real | | | | The fact is that some parts of the United States |
| estate sale or purchase is crucial. While many | | | | are enjoying a bit better success when it comes |
| people have said that there is one primary factor | | | | to the median sales price on the sale of residential |
| when it comes to real estate; that being location. | | | | real estate. For example, the Northeast actually |
| However, it is also important to understand that | | | | experienced a slight increase of .5%. The Midwest |
| when it comes to buying or selling real property, | | | | has fared even a bit better. Median residential real |
| timing really is everything. | | | | estate sales prices actually increased in the |
| One of the key factors that you must closely | | | | Midwest at the rate of 1.43%. |
| pay attention to and monitor when it comes to | | | | The news from the West and from the South |
| the prospect of buying or selling real estate in the | | | | (including Florida) is not nearly as good. Median |
| Tampa area (or elsewhere in Florida) is the | | | | residential real estate sales prices in the West |
| national median sales price and fluctuations of that | | | | declined by 8.83%. Prices declined in the South |
| index in recent times. From this date, one can | | | | 5.47%. (The reality also is that the median price in |
| better analyze the Tampa real estate market. | | | | Florida including the Tampa real estate market has |
| Moreover, by considering some of this national | | | | dropped further than the South average |
| data and related trends, you are better able to | | | | mentioned a moment ago.) |
| make decisions pertaining to the Tampa real | | | | In computing this data, the National Association of |
| estate market both today and into the future. | | | | Realtors compares values to the same point in |
| As is likely to be expected, the national median, | | | | time a year ago. In regard to this data, the |
| average sales price on residential real estate has | | | | Association does not use month-to-month |
| dropped from last year. The national average | | | | comparisons because there are sometimes huge |
| sales price on residential real estate has dropped | | | | fluctuations in the size of houses that sell in |
| down 4.16% since the same time in 2006. | | | | different seasons. Larger houses tent to sell |
| Putting this decline in some perspective, the | | | | faster and more frequently during the summer |
| National Association of Realtors actually began | | | | when it is more convenient for families to move |
| tracking this information in the early part of the | | | | because school is out, for example. The median |
| 1960s. The decline that is referenced in this article, | | | | average is the "midpoint" sales price. Half the |
| the overall decline that is projected for 2007, will | | | | homes were sold above that price and half below. |
| mark the very first time since the National | | | | |