Data pulled from GTAR MLS as of 1/4/25 for the Plant City market area. Mortgage Data from Freddiemac.com
December 2024 Real Estate Transactions
Local December 2024 sales and trend information courtesy of The Crawford Group.
Happy New Year 2025! … 2024 is in the real estate history archives. We are primed to have another active year in real estate, and I would suggest that homeownership is still a primary cornerstone to everyone’s American Dream and has motivated many to New Year’s resolutions to assist them in gaining that goal.
It’s a new year, and let’s get started being prepared and smoothing out awkward transitions and wasted time. As the potential buyer, start by reviewing your finances, pay down any debt to raise your credit scores, speak with a couple of lenders for pre-approval, and make your list of desired features in the home you would like to purchase.
As the potential seller, start by decluttering the home, take inventory of the ages of the major appliances and roof (AC, water heater, stove, etc.), and then start a list of any needed repairs or cosmetic updates. After which, locate and hire an experienced professional Realtor® to assist you in these transaction processes. As with resolutions, we also like to review the past to see where we came from.
Our Plant City community saw several changes to the real estate landscape and will continue to see growth in many areas. Our city limits for one, continued to expand with new construction projects to the North and South of town. This past year, we had 1,373 single-family homes sold compared to 1,025 the previous year. Of which 55% or 756 were newly constructed homes. This active construction of new homes will likely continue for the next couple of years.
This has helped with the housing inventory. Last year we averaged 2.3 month’s supply in comparison to 1.96 the previous year. A balanced market looks for about 4-6 month’s supply, but with higher supply, the days on market increase as well. Our median home sold price for the past 2 years hasn’t changed much, we are running about $353,425.
Mortgage rates averaged 6.72% last year, down slightly from 6.81% the previous year. The outlook for the coming year isn’t much changed. The federal reserve cut rates 3 times last year and anticipates 2 additional cuts this year. Although the fed rate cuts concern more monetary policy in controlling inflation but have a causation effect on the mortgage rates. Your best position is to establish your best credit scores and save money for the down payment and closing costs, and this will help you secure the best rate.
All these data points have either a direct or indirect correlation to the overall housing supply/demand pricing model. Ultimately, the real estate process is one of the most significant financial transactions most people will ever experience. It’s important to trust this journey to someone who is not only qualified but also fully committed to your success. The changing market requires a Realtor® who has the expertise, resources, and dedication to guide you every step of the way.
As we look at the Plant City housing data, December 2024, our market area had 115 homes sell, with new construction contributing about 47% of the units sold this month. We had another 100 under contract and 269 available for sale. We are carrying about a 2.4-month’s supply housing inventory and our average days on market increased to about 58 days primarily due to the holidays.
In December 2024, the average sold price was $371,077 down slightly 1.3% versus last month and the average price per SF was $198.70 up 5% compared to last month. The new construction average prices and price per SF are keeping the overall averages down, but just remember that a new construction buyer pays substantially more in back-end fees and closing costs, which are added to your overall purchase price.
The Freddie Mac 30-year-term loan monthly average rate for December came in about 6.72%, a slight decrease from November’s average of 6.81%.
Although I don’t have a crystal ball to predict the future, all the current data, policy changes, FED rate recalibration, supply and demand for our community appear to point to a very active and robust real estate market in 2025.
As always, I cannot express enough this importance, if you are in the market to buy or sell your home, please seek an experienced professional Realtor® to assist you in this transaction process. There are too many consequences, rules and statues changing, going it alone without proper experienced representation will likely have you incur more expenses than is necessary. Get the real scoop on our market. If you have any questions, want a market value analysis of your home, or see what’s available to purchase, please reach out.
M Crawford
Crawford Group
Sales Snapshot
The following residential properties were a sample listed as sold on the Greater Tampa Realtors Association MLS in December 2024 for the Plant City Market Area.
The home at 1325 Candy Cane Ln sold December 3 for $260,000. Built in 1999, it has 3 bedrooms, 3 bath and 1728 square feet of living area.
The home at 303 Shelby Brooke Dr sold December 20 for $288,000. Built in 2003 it has 3 bedrooms, 2 bath and 1167 square feet of living area.
The home at 411 Whitehall St sold December 30 for $310,000. Built in 2005 it has 3 bedrooms, 2 bath and 1677 square feet of living area.
The home at 1501 E Spencer St sold December 31 for $317,500. Built in 1956, it has 3 bedrooms, 1 bath and 1076 square feet of living area.
The home at 1202 Sandalwood Dr sold December 19 for $320,000. Built in 1987, it has 3 bedrooms, 2 bath and 1822 square feet of living area.
The home at 1443 Walden Oaks PL sold December 30 for $350,000. Built in 1988, it has 3 bedrooms, 2.5 bath and 1515 square feet of living area.
The home at 1001 W Reynolds St sold December 13 for $369,900. Built in 2020, it has 3 bedrooms, 2 bath and 1537 square feet of living area.
The home at 1500 Paddock Dr sold December 9 for $388,000. Built in 1992, it has 4 bedrooms, 2 bath and 2044 square feet of living area.
The home 2903 Oak Crest Dr sold December 20 for $420,000. Built in 1971, it has 4 bedrooms, 3.5 bath and 3935 square feet of living area.
The home at 3505 Crooked River Dr sold December 3 for $440,000. Built in 2024, it has 4 bedrooms, 3 bath and 2537 square feet of living area.
The home at 2713 Kala Ln sold December 20 for $470,000. Built in 1993, it has 4 bedrooms, 2 bath and 2976 square feet of living area.
The home at 2009 Via Napoli St sold December 3 for $497,000. Built in 2014, it has 5 bedrooms, 3.5 bath and 2796 square feet of living area.
The home at 2207 Par Meadows Ln sold December 13 for $635,000. Built in 2001, it has 4 bedrooms, 3.5 bath and 3150 square feet of living area.
The home at 3001 Beautiful Creek Ln sold December 26 for $725,000. Built in 2022, it has 4 bedrooms, 3.5 bath and 3302 square feet of living area.
The home at 6403 Cathedral Oaks Dr sold December 10 for $975,000. Built in 2005, it has 5 bedrooms, 3.5 bath and 3979 square feet of living area.
