Tampa Bay's real estate market continues to be a hot commodity.
Recent reports indicate that home prices in the Tampa Bay area
are almost back to the levels reached in 2006 before the bubble burst - can that really be true? The latest numbers in Florida
show the median sales price at the end of October at right about $220,000 - a 12% increase from a year ago! Unless interest rates go up, we could see the median sales price surpass the 2006 peak in just a few short months. Couple that with the news that Tampa Bay's house flipping rate (9.3% of all sales) recently tied for 3rd highest in U.S. metro areas. Tampa Bay currently has 13 local zip codes ranked with the highest flipping rates of the 100 hottest U.S. zip codes. The most popular zip code proved to be 33603 - South Seminole Heights with a median purchase price of $81,000 and a sale price of $170,000 - a 110% increase! Neighboring zip code 33604 - Old Seminole Heights - also made the top 100 list. And the continuing popularity of downtown St. Petersburg is spurring interest in neighboring zip codes of 33713 (Historic Kenwood) 33712 and 33705 (those areas south of Central Avenue). Whether you're buying to own or to invest - Tampa Bay is the hot place to be!