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