2016 Real Estate Trends Affecting the Tampa Bay Market

Tampa Bay real estate offers great opportunities for the young and the old. There are many Tampa Bay homes for sale that are just simply perfect for anyone, no matter the financial position. Whether you are a family buying your first home, or an older person looking for a dynamic 55+ community that is clearly a bit more 'out of the hub', then this area is for you. There is a wide selection of condos and homes in this beautiful part of Florida, so one of these is guaranteed to fit your requirements. Tampa Bay real estate is for everybody who would like to get in on the action that Florida provides -- mild local climate, good colleges, fantastic restaurants, superb night clubs, convenient shopping, boating, exceptional golf courses, and community events for everyone.

Here are four trends that could be affecting the Tampa-St Petersburg real estate market as we go into mid 2016:

1. Inventory in the Tampa-St. Petersburg area might continue to be low up until mid 2016, and buyers will struggle to locate - and also have their offers accepted on - the perfect home.

2. Bidding wars will occur in the lower price ranges, especially homes listing at $300,000 or less. We have seen this play out in 2015, and the trend will perpetuate in 2016.

Let us step back a moment from these first two presages. They spell out a clear message to potential sellers: Sellers are in the driver’s seat. This is an excellent time to consider listing your Tampa Bay home for sale.

3. The principal economist for Florida Real estate agents, Dr John Tucillo, said "settling down" of the market will happen early on in 2016, but from then on, amounts of home sales will increase by as much as 10 %. That is playing out in many markets presently. Home prices? They'll rise 5 percent. Tuccillo highlights that the state's market is broadening, and the Fed's recent minor interest hike is improbable to make a dent in Florida home sales.

4. Foreign buyers will continue to be a major factor in Florida home-buying markets. International buyers are attracted by the same features that Americans are: oceans, climate, airports, attractions and other amenities.

The gist is this: if you’re thinking about selling, now is a great time to get your place on the market; if you’re in the market to buy there are some great options to choose from!!! Truly a good situation for everyone in the Tampa Bay market right now!

Maria Gallace Gerelus

Maria Gallace Gerelus

Real Estate Consultant
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