Real Estate Blog

If you were searching for your dream home or condo last month, you may have noticed that inventory was incredibly scarce and prices were up from a month before. Well, we weren’t the only ones who noticed. The Florida Association of Realtors also noticed, according to a press release they released today.

Throughout the state, Realtors report that fierce buyer demand and a shortage of inventory contributed to rising housing prices. The statewide median sales price rose 25 percent to $201,400 last month; a year ago, it was $160,800. In 2000, the statewide median sales price was $107,300, which shows an increase of 87.6 percent over the five-year period, according to FAR records. The median is a typical market price where half the homes sold for more, half for less.

Now for the section that hits closest to home for my readers - the Tampa-Clearwater-St. Petersburg focus of the report, which also talks of price increases, plus double-digit increases in sales for the area.

Among the state’s larger markets, the Tampa-St. Petersburg-Clearwater Metropolitan Statistical Area (MSA) reported double-digit increases in resales activity and the median sales price in February. A total of 3,771 homes sold in the area last month compared to 3,223 homes a year ago for a 17 percent increase. The median sales price rose 24 percent to $175,200; a year ago, it was $141,000.

Expect price increases to continue as high demand for housing and housing scarcity continue to effect both the Florida and especially Tampa Bay real estate markets. Are you thinking of selling your home or condo? Contact me now to enlist my strategic marketing and selling methods that ensure your home, condo or commercial property sells in the fastest possible time, for the highest possible price with the least amount of inconvenience to you. Or, click here for a FREE Home Value Report to find out what your home would likely sell for in today’s HOT real estate market.

Around the Web:

St. Petersburg Times: Florida’s housing market remains hot
RISMedia Real Estate News: Florida Home Sales Rise 6 Percent in February
Sarasota Herald Tribune: Housing prices rise 28 percent
Tampa Tribune: Home Sales Soar
The News-Press: Lee home prices surge again
Sun-Sentinel: Home prices soar market in Palm Beach County
Palm Beach Post: Amid slight fizzle, houses still sizzle
Sun-Sentinel: Broward home prices skyrocket
The Daytona Beach News-Journal: Volusia and Flagler home sales increase

-John Mudd
“Mr. Real Estate”