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Wednesday, Aug 27, 2014
Business News

Median sale price of existing home in Tampa Bay up 16.2 percent

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Published:   |   Updated: January 23, 2014 at 05:23 PM

The median sale price of an existing home in the Tampa Bay area rose by 16.2 percent in December when compared with a year earlier, new figures from Florida Realtors show.

Last month, the median sale price of a single-family home in the Tampa-St. Petersburg-Clearwater metropolitan area was $158,000. One caveat is that a region’s median sale price can vary depending on what homes actually sold that month. So, if a large number of high-priced homes sell in any given month, the region’s median sale price might be abnormally high.

The number of closed single-family home sales in the Bay area also rose in December by 3 percent over the same month a year earlier.

Florida Realtors’ chief economist John Tuccillo said Florida is seeing less activity by investors, which is increasing the state’s inventory of homes for sale and reducing the number of all-cash sales.

Meantime, the state is seeing fewer distressed sales, such as foreclosures and short sales, and more market sales.

Statewide, the median sale price of a single-family home rose by 11.4 percent to $172,630 in December. The number of closed sales in Florida rose by 8.6 percent over the same month a year earlier.

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