Tampa’s central business district had the lowest office vacancy rate of any office market in the bay area as of the end of 2018. A new report by JLL (Jones Lang LaSalle) showed the vacancy rate at 9 percent, compared to 11.6 percent in downtown St. Petersburg and a high of 24.6 percent in outlying areas of Pinellas County. For…
Prices for condos and townhomes in the Tampa Bay area soared in January. According to Florida Realtors, the median price shot up almost 14 percent — to $170,000 — compared to an increase of just 3.8 percent for single-family homes. The number of sales of existing homes — condos, townhomes and single family — dropped more than 4 percent in…
And the mega-mansions just keep on coming. A day after real estate investor Ben Mallah paid a record $16.5 million for a Belleair Shore home, the founder of Lazydays RV has put his lakefront estate in eastern Hillsborough County on the market for $22 million. That makes it the most expensive residential property currently for sale in the Tampa Bay…
Real estate investor Ben Mallah bought a gulf-front mansion Thursday for $16.5 million, by far the most ever paid for a residential property in the Tampa Bay area. The seller was former Philadelphia Phillies slugger Ryan Howard, who built the house four years ago on 200 feet of private beach that he bought for $3.5 million. Mallah, known for his…
Sales of single family-homes in the Tampa Bay area plunged in December as prices again rose. In one good sign for buyers, though, the supply of available homes continued to inch up, with Pinellas County having its largest supply in at least three years. The bay area market reflected those statewide and nationally, both of which saw a slump in…
The Hermitage apartments in downtown St. Petersburg have sold for $107.6 million, a near record price per unit for a rental project in the Tampa Bay area. The eight-story, two-year-old building at +just east of the city’s thriving Edge District was purchased by Dedicated Hermitage LP, which has a Toronto, Canada, address. The Hermitage’s new owners paid $309,267 per unit,…
Tampa Bay’s housing market gained $22 billion in value last year but it’s still worth less than it was at the peak of housing bubble in 2005-06. A Zillow analysis found that bay area homes have a cumulative value of $238.7 billion, a $122 billion gain since their lowest point but nearly 7 percent less than at the peak. Tampa…
Trade wars, interest rates, extreme weather — all these factors and more could affect residential real estate in the Tampa Bay area this year. Will we see the same trends as in 2018, when prices rose due to a relatively scant supply of available homes? To get some answers, we spoke with four experts — a Tampa Bay home builder;…
Pinellas County home prices shot up dramatically in November for the second consecutive month while other Tampa Bay counties recorded more modest gains. There was some good news for buyers — the supply of available homes both locally and nationally continued to increase, a trend that could lead to greater affordability. “Rising inventory is clearly taming home price appreciation,” said…
Sorry, homebuyers, Tampa Bay’s real estate market still looks strong for sellers. For the second consecutive month, sales and prices showed healthy year-over-year gains in October, with Pinellas County recording its biggest price jump — 13.3 percent — since January. The October figures, released today by Florida Realtors, indicate that September’s good showing wasn’t a one-time fluke. A big jump…
