Whether you're planning to buy or sell a home in the Tampa Bay area, it's a good idea to familiarize yourself with the local home market. Demand, availability and a multitude of other factors can have a big impact on a homes value. Understanding when to act and what to expect can be a game changer.
September 2016 vs. September 2015
The most recent market statistics for Pinellas show single-family home prices have skyrocketed up 16.6% since last year. Condo prices are up too, but only 5%. Median time to contract for residential homes is down to just 26 days. Median time from listing to sale is now just 72 days!
Pinellas has been in a seller's market for quite some time. Demand is high and inventory has remained low. Over the last year home value has shot up 16.6%. Tampa was just listed as the 2nd hottest real estate market for investors (read more). - It's typical for home sales to slow over the holiday season, but with demand being so high, seller's should continue to see a lots of success.
We still have plenty of beautiful, well-prices homes entering the market daily in Tampa Bay. However, buyers have fewer options and less time to act to secure a home. It's never been more important to have the guidance and research of a good realtor who is watching out for your needs.
~Thanks for reading!