Tampa Bay Still Holds Good Chunk Of All Home Sales In Florida
Tampa Bay Still Holds Good Chunk Of All Home Sales In Florida. I’ve been a Real Estate Broker over 20 years both Here and In Atlanta. Have helped many investors and families get bank owned home deals and I just really like the business. Yes, even in the Plunge & Fall of 2008. And remember the Oil Spill in 2010? Buyers were calling me asking “how much oil” on the beach. Sometimes, Real Estate can be crazy. Or, all the time. LOL.
Yes things are slowing down nationwide. I think over 600,000 deals “fell through” or were canceled nationwide last month. So, how are we doing in Tampa Bay? Second quarter of 2022 saw 85,000 home sales in the state. 15% of those were her in The Bay Area. We may have cooled a bit, but, still Hottest in the FLA.
Median prices have climbed to $417,000 in Florida overall, and just below that at $411,000 in Tampa Bay. If you’re trying to buy, stay positive! Rising interest rates and a slowdown of sorts means rising inventory. I’m seeing some homes on market for over 200 days. One on Rainbow River (I know that’s far) for over 400 days. Yes, overpriced perhaps, but that’s because their neighbor sold for an outrageous price just 3 months to a year ago. Use this time to “save up” and improve your credit score if you’re not ready to buy just yet. And, monitor the market as if you were a buyer, so you’ll stay on top of price drops. Trust me, there will be a few of those. [Source: News Channel 8]
