What’s included in every real estate update?
Interesting Real Estate Stats
Recommended Articles Of The Month And Why
Real Estate Local News
Interesting Real Estate Stat For This Edition:
Every month we’ll pull an interesting stat for you directly from our MLS for Pinellas County.
You can see in the stats below the increased average sales price for residential homes in Pinellas County over the past 5 years (stats from our MLS). In October alone we went from $223,809 in 2014 to $300,998 in 2019.
We’ve seen an influx of people moving from states like California and different parts of the Northeast States because our area is beginning to attract more tech professionals and people that have the ability to work anywhere in the world.
While some real estate markets across the USA are slowing down, Florida is doing the opposite and heating up. In this article from Yahoo Finance they discuss how ultra low mortgage rates are making it a prime time for buyers to purchase their next home.
“Zillow predicts U.S. home values will rise 2.2% over the next year, while in Florida, they’re expected to rise 4.09%.” While we agree with Zillow’s prediction that Florida will outpace most of the USA, we believe that the Tampa Bay Area and Pinellas County will be ahead of the pack vs many areas in Florida. It is quite possible we could see 7-10% increases in valuation over the next year like we have in previous years.
So what does this mean if you are a buyer outside this market? It’s important to pay attention to timing because when you decide to purchase a home can have a massive impact on how much home you will get for the dollar.
Chris and I have been discussing this for years that we are in a market that is attracting people from across the United States and even across the world. Land is limited here and people love the idea of a lower tax climate, growing walkable downtown areas and some of the top beaches including #1 – Clearwater Beach in the United States.
Every year we’ve practiced real estate here we’ve had an increase in people contacting us from out of state that wish to move to Florida. While we would like to think that’s due to our growing online presence, it’s also directly linked to a shift in the market and where people are deciding to lay their roots.
If you’ve been on the fence about moving to Pinellas County and the Tampa Bay Area, give me a call – #727-777-3797. I would love to give you an honest perspective so you can determine if our area is the right fit for you.
Until Next Time,
Recommended Articles Of The Month:
For this update, we’ll highlight some must-reads we’ve written:
Top 11 Reasons Millennials Love Living In Downtown St. Pete – Are you a millennial looking for a walkable adult playground with scenic water-views and tons of things to do? Check out this article written by Chris!
Here are some news stories you may love!
Nordic-Inspired Restaurant Coming To Downtown St Pete – A competitor from Bravo’s Top Chef is bringing an interesting new restaurant to St. Pete.
Boston Real Estate Firm Enters Largo, Fl Market – We are seeing more big developers enter the Pinellas County market with all eyes set on the growth of our area.
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