Real Estate Insider Blog

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06
Jun
2017

Tampa Bay area home prices continue to soar

Sales of Tampa Bay homes dropped in April but prices surged yet again as Florida's real estate market continued to be defined by tight supply and high demand.

Compared to the same month last year, the median price for a single family home rose 12.5 percent here, the most of any major metro area in the state.

But despite that increase and Tampa Bay's most expensive residential sale ever — $11.18 million for Clearwater's Century Oaks estate — there was a hint that the pace of price growth may be slowing just a bit.

In Hillsborough, Pasco and Hernando counties, year-over-year median prices in April rose less than they had in February and March. Pasco's price gain was the lowest in a year, though still a healthy 10 percent.

Buyers shouldn't get too excited, though.

"I think that was probably a momentary blip," said Jeff Shelton, a Coldwell Banker agent in Tampa. "The Tampa Bay market is still one of the top real estate markets in the country."

It's becoming a familiar story: Too many buyers chasing too few homes. All four bay area counties had a tighter inventory of available houses in April than they did a year earlier — and April 2016 was a tight month, too.

"I personally have had to start knocking on doors," said Shelton, who with partner Mike Hughes is among Hillsborough's top-selling agents. "When I have a client who asks me about a particular property, I can go directly...

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13
Oct
2016

Home Prices in the Clearwater Area are Soaring!

Home prices in Tampa Bay are continuing to rise and prices are surging even higher in Pinellas County. The real estate market continues to provide home sellers and buyers with outstanding conditions and encouraging even more attention from surrounding areas. Tampa Bay saw the highest increase out of ALL Florida metro areas with an impressive 20% jump in the month of August whereas Pinellas County soared even higher according to the Tampa Bay Times.

Breaking Down the Numbers

The number of homes sold in June was about the same as the same time in June of 2015. This means that inventory, overall is low. For those who are planning on selling a home right now, that's good news. Home values are on the way up as a direct result of limited inventory. For those planning to buy right now, it’s not a good time to “sit on the fence” and interest rates are already predicted to increase after the election. Anyone schooled in basic economics understand “supply and demand” and right now there are more buyers in the market right now than sellers – this is a key reason you'll want to take action quickly and work closely with a local real estate agent like Christopher Milson. Be sure to you seize the opportunity before the train leaves the station and you end up paying way more than you should have.
 

When it comes down to location, here are some key facts:

  • Hernando County had the largest increase in home values. It grew...
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