Though down from the torrid pace earlier in the year, Tampa Bay’s real estate market showed healthy gains in September with single-family home sales up 14.5 percent and prices up 10 percent.
The strongest showings were in Hernando County, where sales shot up 37.5 percent compared with a year ago, and Pinellas, where they jumped 15 percent.
Excluding shorts sales and foreclosures, the Pinellas figures looked especially impressive. Sales of non-distressed homes soared 31.5 percent while condos and townhomes rose 23.8 percent.
“The market is still very strong,” said Tyler Jones, a Re/Max agent in St. Petersburg. “Things are moving in a week or two weeks if they are at market value or barely or slightly under-priced. Lots of buyers, lots of cash in the market.”
Cash, indeed, is still flowing, especially into high-end properties. Of the 11 Tampa Bay homes that sold for $2 million or more in September, nine were all-cash deals, including the two priciest at $4.9 million each.
One of those that went for top dollar is a 5,300-square-foot penthouse at the Sandpearl Resort on Clearwater Beach. Reduced from nearly $6 million, the four-bedroom condo has panoramic views of the Gulf of Mexico, St. Joseph Sound, Caladesi Island and Clearwater Harbor.
On Tampa’s Davis Islands, a land trust spent $4.9 million on a gated Mediterranean-style estate. Selling points included a rooftop terrace, 15-car garage, six-hole putting green and grottolike pool with swim-up bar overlooking Hillsborough Bay.
That the buyer paid cash “just shows how affordable our water(front) is,” said Jeff Shelton, the Coldwell Banker agent who sold the 9,000-square-foot home. “It shows the incredible opportunities that exist within the Tampa Bay market if you compare our water to other cities in Florida such as Miami, Naples or Sarasota.”