Pinellas home prices soared in November but more houses for sale could mean lower prices

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…

Is Tampa Bay finally seeing signs of a buyer’s market? Soaring September sales hint at it

Bucking a national trend, sales of single-family homes soared by double digits in Hillsborough, Pinellas and Hernando counties in September. That dramatic increase, coupled with minor price increases, suggests that a real estate market that has favored sellers for several years is finally starting to swing a bit in favor of buyers. Another positive sign for those looking to purchase:…

St. Petersburg panel approves tiny-house community

Tampa Bay’s first tiny-house community won unanimous approval Wednesday from St. Petersburg’s Development Review Commission. Pedro Medina, manager of the project, said he hopes to start construction this fall on six houses in the city’s Midtown area. Initially, they wouldn’t be for sale but instead would be rentals, possibly through Airbnb. “This tiny-house movement has been very popular,’’ Medina told…

Pasco sellers are the big winners in April as Tampa Bay home prices keep rising

Sales down; prices up. That in a nutshell described the real estate market in Tampa Bay and a few other parts of Florida in April as once again there were too many buyers and too few available homes. “Pent-up demand continues to put upward pressure on prices,’’ said Christine Hansen, president of Florida Realtors. “In April, sellers continued to get…

Tampa Bay homes prices soar by double-digits in January

Home prices soared in Pinellas and Hillsborough counties in January, the highest gains in several months. Prices for single family homes also rose in Hernando and Pasco as the shortage of available homes showed no immediate sign of easing. The bay area market reflected a broader trend of rising prices and sluggish sales. “The utter lack of sufficient housing supply…

Hurricane Irma hurt some Tampa Bay home sales even in October

Pinellas County home sales took another hurricane-related hit in October as the rest of the Tampa Bay area bounced back from Hurricane Irma. But while prices in all four counties rose once again, the rate of increase continues to slow. Hillsborough’s 3.6 percent increase was the lowest in more than two years although the county recorded the second highest price…

In the wake of Hurricane Irma, a case for Tall Homes and New Construction in St. Petersburg

Tampa Bay dodged a bullet. As late as 11am on Sunday morning, the National Hurricane Center projected a monster Category 4 hurricane, the largest in modern history, passing directly over the shallow estuary of Tampa Bay, and bringing with it up to 12 feet of storm surge. With 700 miles of shoreline and an average depth of only 12 feet,…