Wednesday, July 13, 2011

Real Estate Facts: Tampa Bay Housing Prices on the Rise

We have been reporting about an interesting real estate trend in Tampa Bay. Real estate agents are pleasantly surprised that for months now that properties are moving, prices increasing, and finally the news is now reporting their findings, Tampa Bay homes prices are on the rise. The Tampa Bay real estate prices have risen or at least remained constant every month this year.


Tampa Bay
Price Changes 2011
 According to the St. Petersburg Times, the median selling price of single family homes (including conventional, foreclosures, and short sales) rose 18 percent from $107,500 to $127,000 from January 2011 until June 2011. This is a huge difference in price! If you look at conventional home sales alone in that six month period, the increase was 8.5 percent. The median price is now $169,900, the highest peak since October 2010. January $107,500

We hear the doom and gloom stories of no housing recovery for years, but let’s hear some street talk from SI Real Estate. Six steady months of housing price increases is a great sign we are moving in the right direction here in Tampa Bay Florida.

We also looked at some statistics here at SI Real Estate. Being experts in the local market we wanted to note a few other positive trends. Bank owned properties or REOs inventory in a fraction of what it was at the peak here in Hillsborough County. People are moving back towards conventional sales. People want a move in ready home and they are more confident in their purchases. We are seeing multiple offer listings, new construction sales rising, and buyer confidence really climbing. It is an exciting time to be in real estate.

If you would like to speak to an expert in the Tampa Bay Area, please contact SI Real Estate to speak to one of our talented agents. You can call our office at 813.631.5144 or email us at Yourhome@SIRealEstateInvestments.com.

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