Real Estate Tampa: One of Top Ten Cities for Rental Properties

More good news in the Tampa real estate market this week, Tampa ranks in the top ten cities for rentals. This information was provided by CNN Money.

According to their report, the labor market is on the rise, down a point in the last 12 months to 10.5% and this coupled with demand is expected to raise rent 12% over the next three years.

What does this mean to consumers? If you are in a position to purchase a home, now is the time! Prices are increasing, our last blog, Tampa Bay Housing Prices on the Rise we shared that prices have increased by 18.5 percent over the last 6 months steadily. With prices on rentals increasing and home prices starting a slow incline, get the best deal you can now. If you are an investor or ever thought of getting an investment property, don’t wait any longer to find your property. This steady increase in price we expect to continue and with rising rent rates, now is the time to buy in order to get a great return on your investment over the long run. If you are a renter, this is a market update for what to expect in the rental market in the coming months/years. Stay savvy in what to expect in rentals and the market overall.

If you would like to discuss your options or real estate goals with a professional, please contact SI Real Estate at 813.631.5144 or email us at Yourhome@sirealestateinvestments.com.

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Real Estate Facts: Tampa Bay Housing Prices on the Rise

We have been reporting about an interesting real estate trend in Tampa Bay. Real estate agents are pleasantly surprised that for months now that properties are moving, prices increasing, and finally the news is now reporting their findings, Tampa Bay homes prices are on the rise. The Tampa Bay real estate prices have risen or at least remained constant every month this year.



Tampa Bay
Price Changes 2011

 According to the St. Petersburg Times, the median selling price of single family homes (including conventional, foreclosures, and short sales) rose 18 percent from $107,500 to $127,000 from January 2011 until June 2011. This is a huge difference in price! If you look at conventional home sales alone in that six month period, the increase was 8.5 percent. The median price is now $169,900, the highest peak since October 2010. January $107,500

We hear the doom and gloom stories of no housing recovery for years, but let’s hear some street talk from SI Real Estate. Six steady months of housing price increases is a great sign we are moving in the right direction here in Tampa Bay Florida.

We also looked at some statistics here at SI Real Estate. Being experts in the local market we wanted to note a few other positive trends. Bank owned properties or REOs inventory in a fraction of what it was at the peak here in Hillsborough County. People are moving back towards conventional sales. People want a move in ready home and they are more confident in their purchases. We are seeing multiple offer listings, new construction sales rising, and buyer confidence really climbing. It is an exciting time to be in real estate.

If you would like to speak to an expert in the Tampa Bay Area, please contact SI Real Estate to speak to one of our talented agents. You can call our office at 813.631.5144 or email us at Yourhome@SIRealEstateInvestments.com.

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