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Real Estate Tips and Trends – Booming Single Family Home and Condo Sales

January 7, 2015 by Sharon Fennell Kennedy | St. Petersburg, FL: Pinellas County Leave a Comment

property value increase
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.

About the author

Sharon Fennell Kennedy is a grant writer specializing in non-profits and a real estate blogger for The Mesimer Team – REMAX/Metro in St. Petersburg, FL. She enjoys antiquing and repurposing flea market finds, yoga, walking and reading. You can connect with Sharon on www.estelia.com or www.sharon-kennedy.com

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