The median list price for Tampa-St. Petersburg-Clearwater, Florida area houses was $171,900 in March 2014, up 10.9% from March of last year, according to the National Housing Trend Report for March 2014 stated by Realtor.com. That's below the U.S. median of $199,900. Meantime, the market ranks sixth in the number of open listings out of 146 metropolitan regions ranked by Realtor.com. This means somewhat low prices and a fair amount of inventory – a interesting opportunity for home potential buyers.
The houses currently listed for sale on realtor.com for the Tampa Bay, range in price from the mid-teens for a small one-bedroom, one-bath condo in need of some renovation to $17.5 million for a 23,000 square foot, gated waterfront house with two pools, tennis court, basketball court, carriage house and boat docks. Of nearly 9,000 houses listed on realtor.com, there are currently eighty-two single-family homes and condos/townhomes for sale in the $171,900 to $175,000 price range. Here's what's available for $175,000 in the Tampa Bay market.
Attention New Home Buyers
The Tampa-St. Petersburg-Clearwater market is the 2nd best city for 1st time homebuyers, according to a new data by Realtor.com listing the top 10 metro areas for new purchasers. The only metro area that ranked better was Pittsburgh. The five key factors that make a market ideal for first-time homebuyers:
Market popularity. 1st time buyers often "move up" to a biggerproperty within a few years. Buying in a popular area helps guarentees they can make a profit when it's time to move.
Prices. Purchasers have to be able to afford the mortgage as well as the down payment.
Inventory. Markets with limited inventory often have bidding wars in which new buyers can easily be out-bid by investors or buyers who can spend more. Ample inventory prevents the likelihood of these bidding wars.
Time on market. The median age of inventory is an indicator of demand in a particular area. Markets where houses are on the market for a limited amount of time, typically because of high demand, can also lead to bidding wars.
Unemployment rates. A lower unemployment rate means new buyers are more likely to find and maintain jobs and be able to pay their mortgages.
The largest real estate markets in the top ten list were in Florida. In addition to Tampa-St. Petersburg-Clearwater, 1st timers were directed to the Orlando and Jacksonville city areas. The others in the top ten: Philadelphia, and its New Jersey suburbs.; Philadelphia; Fort Worth-Arlington,Texas; Dallas; Raleigh-Durham-Chapel Hill; and Phoenix-Mesa.
If you are looking for a real estate agent in St Petersburg FL to help you buy or sell a home, please contact us today to see how we can help you.
