Friday, April 8, 2011
According to The Tampa Tribune, “Homes sales are climbing, up 16 percent from a year ago and 24 percent from last month”. However since there is such a high number of bank owned and distressed properties, the median sale price is only $111,100.
Of the 2,375 real estate sales in Tampa in February 2011, a large majority were bought by investors. They see properties in distress, prices continuing to decline and investors are cashing in.
The spring selling season is around the corner however, and projections are expecting more traditional homebuyers to start jumping in. Most first time and repeat homebuyers are not interested in the distressed properties. They start off looking at the price tag, but are not prepared to deal with the challenges once viewing the property. They see the value in finding a home that is ready for them to enjoy immediately. New construction home sales are up and with the new selling season, median sales price is expected to increase.
All of these statistics are causing one more interesting trend in Florida, real estate sales agents are increasing. According to The Orlando Sentinel, After a slump in the real estate market in mid-2007, the pool of real estate professionals has dropped more than 13%, however Since the beginning of 2011, the numbers have been edging back up, it is predicted that 268,257 registered brokers and agents were active in Florida’s real estate market by the end of February 2011.
With homes sales rising, positive projections of buyers confidence in purchasing real estate again, and professionals confidence in real estate careers, Tampa bay may be shaping up for some market improvements. Now is your time to move forward.
SI Real Estate works with Buyers, Sellers, and Investors to get the most out of the Tampa real estate market. Call us today at 813.631.5144 or email us at YourHome@SIRealEstateInvestments.com.
SI Real Estate is also looking for qualified agents, whether you have 20 years experience or just received your license. Contact our office to start your real estate career with SI Real Estate. You will see that we are “Global Real Estate in Every Way”.