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Tampa Bay Housing Market Best Since Recession Started

Tampa Bay housingIf you are looking to buy a new home in the Tampa Bay area you may find yourself up against competitive buyers for the first time in several years. single-family home sales are up 28.5% in June compared to the same month in 2014. The national increase is 9.6% in the state increase at 19.6%, so the Tampa Bay market is officially on fire.

Homes that are listed between $150,000 and $200,000 are on the cricket an average of 44 days 18.5% less than a year ago. The median sale price for houses in the Tampa-St. Petersburg-Clearwater metropolitan statistical area was $180,000 in June, up 10.9 percent over June 2014, Florida Realtors reports.
n Hillsborough County, closed sales on houses are up 27.4 percent over June 2014 with a median sale price of $206,000, staying on the market for a median of 43 days.

In Pinellas County, single family home sales were up 29.5 percent, with homes selling for a median price of $185,000, a 12.8 percent increase over June 2014.

It’s not just single-family homes that are experiencing the increase. Townhouse and condo sales in the metro area are up 21.6 percent over June 2014, with a median sale price of $116,000, up 4.2 percent over last year. Inventory is down 18 percent to 3.9 months

“If you are trying to buy, it is absolutely red hot right now,” said Barbara Jordan, 2015 president of the Greater Tampa Association of Realtors, Inc. “It is not unusual for a house to have multiple offers in 24 to 48 hours if it’s priced right. I’ve been involved in cases where there are eight offers.”

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