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Tampa Bay home sales skyrocketed in June, making it the strongest month in the past year.
Year-over-year sales of single-family homes — which make up the bulk of the residential real estate market — soared 31.7 percent in Pasco County, 29.5 percent in Pinellas and 27.4 percent in Hillsborough.
Prices in all three counties also rose, though less dramatically, while the median number of days homes sat on the market shrank — evidence that buyers are snapping up realistically priced homes.
“Overall, it’s been a very solid market for pending sales month after month, and June was a strong closing month,” Charles Richardson, senior regional vice president of Coldwell Banker in Tampa, said Wednesday.
But, he added, “it’s still a value-driven market. If you overprice a property, it’s just not going to sell today. Because of the Internet, buyers have a lot more information available to them, and they have a very strong understanding of what the value should be.”
Pat Lins, a Coldwell Banker agent in northeast St. Petersburg, knows that well.
In June, she sold a 1,755-square-foot waterfront home before it even hit the market. Needing an update, it turned out to be perfectly priced at $390,000 for a young couple whose own home had sold so quickly that they needed to find a place pronto.