MARCH 2023 FLORIDA MARKET STATISTICS AND ABSORPTION RATE

Sellar MLS March 2023 Residential Stats - Thi report represents all residential listings in the Stellar MLS coverage area for March 2023.

According to Stellar MLS Florida coverage area, notable statistics state that:

- New listings Increased by 18% over February, while Active listings inventory dropped by 1% over March, so the supply is less than the demand. The stats show that there are homes available on the market for two months of supply, which indicates that we are shifting to the seller's market.

- The number of properties sold increased 39% Since March, with a total sales volume of 7.5 Billion Dollars.

- Average Days on the Market are still 11 days.

- The real estate market in the Tampa Bay area is doing GREAT.

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  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 many states are below 80%, we in Tampa Bay Area are above 86%.