Single family home prices up 16.3% over a year ago here in Pinellas County Florida. This is great news for everyone! Seeing our economy come back is indeed a wonderful thing. While homeowners are getting more for the home they are selling, with the extremely low interest rates, home buyers are realizing that they need to get on board since the trend is UP for the foreseeable future.
While there are relatively few foreclosures on the market in our area, those that are available have seen a 24.8% price increase, meaning foreclosures are no longer such a great deal. Most foreclosures I have seen have been remodeled by the banks, making them easier to sell for more money. Hence the drastic price increase over just one year ago.
With single family home prices up 16.3% over a year ago here in Pinellas County Florida I have to say what I have been saying for some time: The time to buy is NOW.
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