Buy a home in Tampa Bay Area, Florida

 

Good time to buy in Tampa Bay Area.

The Florida real estate market in August 2024 shows some interesting trends:

1. Home Prices: The median home price in Florida has increased by 2.3% year-over-year, reaching approximately $419,200. This indicates a steady rise in property values, although the growth rate has slowed compared to previous years.

2. Home Sales: There has been a 14.1% decrease in the number of homes sold compared to last year. This decline in sales volume suggests a cooling market, possibly influenced by higher mortgage rates and economic conditions.

3. Housing Supply: The number of homes for sale has risen significantly, up 40.1% year-over-year. This increase in inventory provides more options.

Some reasons this is a good time to buy a single-family home in the Tampa Bay Area.

1. Increased Inventory: The number of homes for sale in Florida has risen significantly, providing more options for buyers and potentially reducing competition.

2. Stable Home Prices: While home prices have increased, the growth rate has slowed, making it a more stable market for buyers.

3. Desirable Location: Clearwater is known for its beautiful beaches, pleasant climate, and abundant outdoor activities. It’s a great place for those who enjoy water sports, nature parks, and a vibrant cultural scene.

4. Strong Job Market: Clearwater boasts a strong job market with opportunities in various industries, including healthcare, tech, and tourism.

5. No State Income Tax: Florida has no state income tax, which can be a significant financial benefit, especially for retirees and those with substantial income.

6. Quality Education: The area is home to many well-rated public and private schools, as well as several colleges and universities.

7. Affordable Cost of Living: Compared to other coastal cities, Clearwater offers a relatively affordable cost of living, making it an attractive option for families and retirees alike.

8. Community and Lifestyle: Clearwater offers a mix of urban and suburban living with a strong sense of community. The city hosts numerous events and festivals, adding to its appeal.

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This page will be expanded upon. Please check back to read more updates about Buy a home in Tampa Bay Area, Florida, USA. Posted August 23, 2024.

Buying or Selling Clearwater, Florida, USA

 

Clearwater, Florida, USA
a great place to live!

About buying or selling a home or condo in

Clearwater, Florida, USA.

The Clearwater housing market has seen some interesting trends recently. Let’s dive into the details:

1. Median Sale Price: In December 2023, the median sale price of a home in Clearwater was $393,000, which is a 16.4% increase compared to the previous year. This surge in prices indicates a competitive market.

2. Time on the Market: On average, homes in Clearwater sell after 29 days, slightly longer than the 27 days it took last year. This suggests that buyers are still active, but properties are staying available for a bit longer.

3. Number of homes sold in December 2023, 136 homes were sold in Clearwater, down from 175 in the same month the previous year.

4. Sale-to-List Price Ratio: The average homes sell for about 4% below list price and go pending in around 32 days. Hot homes, however, can sell for around list price and go pending in as little as 11 days.

5. Migration Trends:

• Outbound: Clearwater residents are moving to nearby cities such as Sarasota, Orlando, and Homosassa Springs.
• Inbound: People from New York, Washington, DC and Chicago are relocating to Clearwater.
• Clearwater Beach: If you’re interested in Clearwater Beach, note that in December 2023, home prices there were up 6.2% compared to the previous year, with a median price of $860,000. Homes in Clearwater Beach sell after an average of 69 days on the market.
• Whether you’re buying or selling, it’s essential to keep an eye on these trends to make informed decisions in the dynamic Clearwater housing market. 

Come tour the city and beach via the
inexpensive Jolly Trolley.

Whether you’re buying or selling, it’s essential to keep an eye on these trends to make informed decisions in the dynamic Clearwater housing market. 

Many homes like these in
Clearwater, Florida, USA.

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Florida Housing Market 2024, 2025, 2026

Market Update December 2023

Housing Market Predictions

Will House Prices Go Down?

Goldman Sachs Gives U.S.A Housing Market Prediction

"Goldman Sachs expects home prices across the U.S. to grow modestly in 2024 before starting to really bounce back in the following years, according to its latest prediction.

The company, one of the world's most prominent investment banks, released its latest housing forecasts for the next four years, estimating that home prices will grow by 0.6 percent in 2024, by 3.8 percent in 2025, and by 4.9 percent in 2026."

Norado Florida Real Estate Investments

"Looking ahead to 2024, experts anticipate a strengthening Florida housing market driven by population and business growth. Dr. Brad O’Connor, chief economist at Florida Realtors®, notes a return to a pre-pandemic sales pattern with increasing inventory...." 

Top 10 Real Estate Apps

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This page will be expanded upon. Please check back to read more updates about Florida housing market 2024, 2025, 2026 for December 2023 Florida, USA. Posted December 15, 2023.

August 2023 Florida, USA Housing Predictions

 

Florida Housing Predictions

Florida Real Estate Forecast Next 5 years

Florida home values have risen by about 80% over the past 5 years and a positive trend is forecasted for the next 5 years. With the recent spike in mortgage payments as a result of rising interest rates, analysts are watching the Florida housing market closely to see what effect this will have. It is likely to restrict house price increases, but to what amount is unclear because there is still a “fear of losing out” attitude among purchasers, which is fueling the market, although slowly.

It's no surprise that Zillow ranked Tampa, Florida, as the top real estate market in the United States in 2022. Florida housing prices have witnessed some of the most dramatic increases in the country, with Miami and Tampa at the forefront of the upswing. Due to a variety of variables, the housing market in Tampa has outpaced many others, including a large number of potential buyers, a scarcity of supply, strong property sales, and an active employment market in the area.

Overall, the Florida housing market is strong and is predicted to remain so in the next five years. If you're a seller, this is wonderful news since it implies property values are rising and there isn't much selling competition, giving you the luxury of selecting from the best offers on your schedule. Higher mortgage rates may cause unprepared house buyers to postpone their purchases.

....Florida is now America's fastest-growing state. According to recent census data, the Sunshine State added over 400,000 additional people between July 2021 to July 2022. It was a growth of 1.9%, bringing the total population to 22,244,823. That makes it faster-growing than Texas, which has the second-largest population in the United States, trailing only California.

Source: Norada Real Estate Investments

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This page will be expanded upon. Please check back to read more updates about Florida real estate market reports for August 2023 Florida, USA. Posted August 14, 2023.

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