Published March 21, 2023
FEBRUARY 2023 FLORIDA MARKET STATISTICS AND ABSORPTION RATE
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Sellar MLS February 2023 Residential Stats - This report represents all residential listings in the Stellar MLS coverage area for February 2023.
According to Stellar MLS Florida coverage area, notable statistics state that:
- New listings decreased by 4% over the month and 8% over the year, while Active listings inventory declined by 5% over the last month and increased by 101% over the previous year.
- The number of properties sold increased 30% from the last month and has declined 16% over the previous year, with a total sales volume of 5.4 Billion Dollars.
- The number of months supply for homes in the market is three months, which is still considered a seller's market.
- Average Days on Market has increased 11% month over month, which is 50 days now and doubled from last year.
The demand for housing in Tampa Bay, FL, is still high. Absorption Rate The absorption rate in real estate language means the number of sold homes divided by the available homes in the same area for a certain period of time.
Where most states are below 70%, we in Tampa Bay Area are still above 80%.
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