Is Pinellas County A Good Place To Invest In Real Estate?

May 23, 2017 by The727Team

It’s all about location, location, location… never has a phrase been so true.  Pinellas County is the perfect representation of the power of a home’s location on the real estate market.

Why?  Because Pinellas County is the undisputed champion of population density in Florida… there’s more people here per square mile than any other county in the state.

Let’s face it… This Place Rocks!  And it’s also – spoiler alert – An amazing area to invest in!

Allow me to explain why….

Let’s Check The Numbers

If you want to know where Pinellas County is heading… check the numbers.  In the past 5 years, the average residential sales price has increased from $179,000 to $261,000!!!

Pinellas County Trending Sales
It’s all about the land!  There’s an increase in population and there’s less inventory on the market.  Low supply… high demand, you get the picture…

The reasons there’s less land available is a vast majority has already been built on. The population continues to increase from approximately 916,000 according to the 2010 census to a projected 960,000+ for 2016/2017 and beyond.

The Invasion Of Flippers And Investors

They’re here… and they’re not going anywhere.  A good portion of the homes for sale on the market place in Pinellas County are flipped or renovated properties.  I don’t have any official statistics on it but I’d say it’s fair to say a good 15% – 25% of homes on the multiple listing service could be classified as renovated.

In my real estate career I’ve met many of these flippers.  Some are professionals that run entire companies, others are local realtors that do it on the side, and yes there’s even the HGTV inspired couples that give it a go.

The quality of work really depends on the people.  You’ll see some homes for a lack of better words that have pretty terrible work, and then you’ll see the flips where you can tell they put passion into it.

The good thing is in my opinion it’s a great thing for Pinellas County.  Every time a property is renovated, it creates the atmosphere for more homes in a neighborhood to follow suit.  This traditionally increases property value for everyone in the neighborhood in the end, even for those that have not made any renovations to their own home.

Welcome To Paradise

I’m fortunate enough to be very active in networking by running The Pinellas County Meetup Group with my business partner Chris Formico.

Every month I get to meet amazing people, and a large majority of them are new to town.  I always ask people why they moved here, and to many, this area is a paradise. It’s a beautiful beach area with lots of activity, culture, and variety.  It also doesn’t hurt that the cost of living is pretty generous compared to other popular areas in the country.

Anytime I work with clients that are ready to invest in real estate, I always tell them to pay attention to the trends.  Do you believe in the area?  Do you think it’s going away?

What is driving this area, and what brought you here?  If they don’t know the answers… I’m always happy to help.  If you have any questions about Pinellas County in general or when you’re ready to setup a consultation… email us at the727team@gmail.com  to get the process started!

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Newest Homes In A Popular Pinellas County City – Seminole

 

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(all data current as of 12/4/2020)

Listing information deemed reliable but not guaranteed. Read full disclaimer.