After an extensive slump period in housing, higher prices and bidding wars have made a comeback in the bay area. The number of single family homes sold jumped up 17.4% in March earlier this year in the cities of Tampa, St. Petersburg, and Clearwater said The Florida’s Realtor Group.
Condo sales however showed less improvement around this time, but still showed improvement by climbing 1.7% over the year. It wasn’t till recently that condo prices rose a little faster and jumped an impressive 15% to a median of about $92,000.
The reason for this incredible surge is big out of state investment groups. Firms from all over like New York for example are buying thousands of homes in Florida and paying cash. Most of these cash deals that take place and homes that were up for foreclosure.
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