Tampa Bay home prices soared 20 percent in January as supply shortage continues
Tampa Bay homes prices soared 20 percent in January, the third-largest gain in all of Florida.
The dramatic year-over-year increase, exceeded only by those in the Fort Myers and Port St. Lucie areas, was caused in large part by a continuing shortage of homes for sale, which is driving up prices.
"There are a lot of buyers out there, but the inventory remains tight," Charles Richardson, regional vice president of Coldwell Banker, said Tuesday. Homes under $500,000 that are priced right and in good shape make up what he calls the "hottest segment of the market" and can easily spark bidding wars. Continue reading.
Tampa Bay homes prices soared 20 percent in January, the third-largest gain in all of Florida.
The dramatic year-over-year increase, exceeded only by those in the Fort Myers and Port St. Lucie areas, was caused in large part by a continuing shortage of homes for sale, which is driving up prices.
"There are a lot of buyers out there, but the inventory remains tight," Charles Richardson, regional vice president of Coldwell Banker, said Tuesday. Homes under $500,000 that are priced right and in good shape make up what he calls the "hottest segment of the market" and can easily spark bidding wars. Continue reading.