Florida Property Values
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What will $200,000, $500,000 and $1,000,000
buy in Tampa / St. Petersburg?
The region is nearing a five-year low in available-home listings. In 2007, after the housing bubble burst, there were 18,000 homes on the market in Pinellas County. Now there are 8,000, closer to a typical six-month inventory. Despite fewer listings, home values haven’t risen; concerns persist that a new wave of foreclosures is on the way. The region’s median sales price dipped 9% in 2011 to $120,600. On the positive side, the waterfront condo market throughout the region is picking up. “I believe you can say there’s a slight improvement in the market,” says Jim Selvey, past president of the Greater Tampa Association of Realtors. “But there’s still a long way to go.”
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