The Future Looks Bright For Tampa Bay Real Estate
Home sales surged in the Tampa Bay area in February compared with February 2014, though price increases were far milder.
Housing data released Monday by Florida Realtors showed a nearly 29 percent more than the previous February. The median sales price was $154,000, a 4.4 percent gain from a year earlier.
Statewide, there was an increase of 19 percent, with the median price swelling by 9.1 percent to $179,995.
Sales of townhomes and condos also were on the upswing in Tampa Bay (Hillsborough, Pinellas, Pasco and Hernando counties), as 15.4 percent more sold than last February. The median price was $106,400, a 12.1 percent bump.
In an environment of low interest rates, the robust growth of employment in both the U.S. as a whole and specifically in Florida has made the environment ripe for a banner year for home sales. Even though it appears the Federal Reserve may raise interest rates around midyear, the growth in Florida’s real estate market will most likely continue at the current or a slightly slower pace.