What’s the Latest From Our Wesley Chapel Market?

By Joe Kipping

Top Realtor Joseph Kipping’s more than 18 years of professional experience in the real estate, banking, and mortgage industries makes him uniquely knowledgeable in all facets of buying and selling properties. His experience in the mortgage industry working with Lendingtree.com clients served as the foundation for his true passion – serving his clients and community as a full-time Realtor. This dedication to his Tampa Bay clients has enabled Joe to sell more than 1,200+ homes in the Tampa Bay area since 2008. Referrals from past clients and repeat business have driven much of Joe’s success because his clients know that they will never see high-pressure sales tactics, marketing gimmicks or any unprofessional practices.

What’s the latest from our Wesley Chapel real estate market? In February, we had 157 homes sell, as opposed to January’s number of 168—a 6.5% decrease. There are only 145 active listings, which is a month-over-month decrease of roughly 20%. However, the average days on market went up from 34 to 39. That figure makes sense considering how many sellers have been wanting to push out their closings. 

The month-over-month change in the median sales price is particularly interesting. In January, that price was $280,000; in February, it was already up to $306,000. That’s obviously a huge increase, but that, too, makes sense given the success our team alone has been seeing with our marketing approach. With the 360-degree virtual tours, walk-through videos, professional HD photography, and the floor plans that we include with our listings, we’re getting multiple offers for our sellers. The most I’ve seen on a single Wesley Chapel listing recently is 30!

Right now, it’s a crazy seller’s market. There’s only one month of inventory, meaning it would take four weeks for us to completely exhaust our supply of homes if no new listings came onto market. If you’re a seller, you’re loving life at the moment. Of course, selling isn’t the hard part; your home will sell. The tricky part for today’s sellers is figuring out which of the offers they’ve received is best. It’s not easy. Nor is navigating a market where buyers are likelier than ever to feel buyer’s remorse; they’re paying thousands of dollars over list price just to get under contract, but will they see the deal through to the closing table? 

If you’re considering the FSBO route, I’d advise you to consult with a Realtor instead; yes, sellers have the upper hand, but without the right guidance, you could still leave thousands on the table. Just this past week, we stepped in to help two FSBO sellers who were feeling absolutely overwhelmed by dealing with all the craziness in the market. 

If you’re a seller who wants to maximize their sale or a buyer who wants to get into a new home without sabotaging their budget, please reach out to us soon. We’d love to inform you about the latest trends in the market and show you how to price your home or structure your offer confidently. Just give us a call, send an email, or visit our website. We look forward to chatting with you!