Tampa Bay home prices tick down in July

The median price of a single-family home in the Tampa Bay area dropped in July, the first decrease this year.

The price fell 3.2 percent from $129,250 in June to $125,000 and encompasses conventional, foreclosure and short sales in Hills­borough, Pasco and Pinellas counties, according to My Florida Regional Multiple Listing Service data.

From January to June, the median price rose 18 percent from $109,155 to $129,250.

Sale figures do not include Hernando and Citrus counties because Realtors in the two counties report data to another MLS board.

Total sales also fell from 2,572 in June to 2,324 in July, a 9.6 percent decline. The July sales represent a 29 percent increase from July 2010.

After sales peaked in the spring, real estate agents had hoped for increased sales through the summer. Andrew Duncan of Keller Williams Realty in South Tampa said a one-month decline doesn't mean the housing market is tanking.

"It's a little concerning," he said.

Further analysis shows the median price of just conventional home sales also declined 5.7 percent — $170,000 to $160,250 — from June to July in the three counties. In July 2010, the median price of a conventional sale was $180,000.

Foreclosure sales are no longer driving the market like earlier this year. They peaked at 975 sales in March but plummeted to 562 in July, a 42 percent drop. The median price of a foreclosure also fell from $75,000 in June to $70,600 in July.

The drop in foreclosure sales is attributable to lenders putting fewer bank-owned homes on the market and foreclosure cases stalled in courts over fraudulent paperwork issues.

Mark Puente can be reached at mpuente@sptimes.com or (727) 893-8459. Twitter: @markapuente.

July sales

Highest sale: $3.8 million.

ZIP code with most July sales: 33647 Northeast Hillsborough County (69 sales with a median price of $279,995).

Homes sold with water frontage: 242.

Tampa Bay home prices tick down in July 08/10/11 [Last modified: Thursday, August 11, 2011 8:00am]

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