In November 2014, the Tampa Bay area was among the most robust in Florida for the sale of condos and single family homes.
This is good news for St. Petersburg and Pinellas County. Of Florida’s 20 metropolitan areas, Tampa Bay ranked fifth highest in single family home sales with a year-over-year increase in November of 18.4-percent. The median price rose 6.7-percnt, to $160,000.
Primary reasons for the increase:
- More homes in the $600,000 and up range came on the market; and
- Bank-owned foreclosures sold at higher prices
The November data shows the condo market was strong and cash sales rose 13.4-percent, indicating investors are still active in the market.