A Look at the Housing Market in Tampa, Florida

downtown_skyline_stpete
Creative Commons License photo credit: soupboy

Tampa, Florida has a lot to offer potential home buyers. This area of Florida is not just for retirees. Whether you’re working or retired, single or have a family; you’ll find Tampa, Florida a great place to buy a home. There are great schools for youth and good entertainment options for the entire family. The cost of living and of course taxes are very low in Tampa. There also seems to be more jobs in the area compared with comparable cities nationwide. For those who love fun in the sun, the beaches in Tampa will not disappoint. The same could be said for golf enthusiasts; you’ll find great courses in Tampa.

The second quarter of the year has seen an increase in homes sales compared to 2009. Almost 700 homes sold in May and the median home price was around $120k (this price has gone down a bit from the first quarter). At the end of the second quarter there were still about five thousand homes for sale in Tampa. Foreclosures are still high in city. Foreclosures seem to be having a bad effect on the value of the homes in Tampa. This is also true of short sales. One good sign is that new homes being put on the market has decreased by around 30%. This could indicate a stabilization in the real estate market. While some realtors say that the recent oil spill will affect the overall view of buying in the area, others are just as certain it will not. The beaches are touted as very clean and not at all affected by the oil spill.

Most realtors in Tampa say it’s really where you buy that counts. Some areas in the city are looking toward a sellers market; with low inventory and short sales times. Others are still trying to clean up distressed properties from the real estate market. The average time to sale a home in Tampa overall is around one hundred and sixty days. Having a knowledgeable real estate agent in Tampa would seem to be the key to taking advantage of the best deals.