Tampa Bay Real Estate Market Second Most Active in Florida in April
The Tampa Bay real estate market was the second most active market among 22 large metro areas in FLORIDA in April 2016, second only to the Miami metro area. It surpassed the Orlando and Jacksonville metro areas, which ranked third and fourth, respectively, in residential sales activity.
A total of 4,199 Tampa single-family homes were sold, 13 units more than the Miami area’s sales of single-family homes. It was in the condo and townhouse market that the Miami area surpassed the Tampa Bay real estate market and every other metro area, with 4,165 condos and townhomes sold.
Tampa Bay sold a total of 5,841 residential units, second to the Miami metro area’s total sales of 8,364. Tampa Bay’s sales in April were a show of growth, as it represented a year-over-year increase of 3.8% in the single-family sector and an increase of 7.9% in the condo and townhouse sector.
|Rank||Metro Area||Closed Sales||Closed Sales||TOTAL|
|Single-Family Homes||Condos and Townhouses||of Closed Sales|
|1||Miami-Fort Lauderdale-West Palm Beach||4,199||4,165||8,364|
|6||Cape Coral-Fort Myers||1,216||699||1,915|
|7||Deltona-Daytona Beach-Ormond Beach||1,016||265||1,281|
|10||Port St. Lucie||738||275||1,013|
|13||Crestview-Fort Walton Beach-Destin||556||126||682|
Along with the increase in sales volume, TAMPA BAY real estate prices also increased year-over-year in April 2016. Tampa Bay’s median price for single family homes increased by 11.8% to $ 190,000 and the median price for condos and townhomes rose by 8.2% to $ 131,000.
|Rank||Metro Area||Median Price|
|1||Naples-Immokalee-Marco Island||$ 465,000|
|2||Miami-Fort Lauderdale-West Palm Beach||$ 300,000|
|3||North Port-Sarasota-Bradenton||$ 260,000|
|4||Crestview-Fort Walton Beach-Destin||$ 249,900|
|5||Cape Coral-Fort Myers||$ 235,000|
|6||The Villages||$ 235,000|
|8||Port St. Lucie||204,537|
|11||Sebastian-Vero Beach||$ 199,500|
|12||TAMPA-St. Petersburg-Clearwater||$ 190,000|
|13||Punta Gorda||$ 190,000|
|14||Panama City||$ 185,000|
|16||Palm Bay-Melbourne-Titusville||$ 179,900|
|17||Pensacola-Ferry Pass-Brent||$ 165,500|
|18||Deltona-Daytona Beach-Ormond Beach||$ 162,900|
|19||Lakeland-Winter Haven||$ 152,000|
|20||Homosassa Springs||$ 132,000|
Despite the rise in the prices of Tampa Bay homes, their affordability is still an attraction. The median price of Tampa Bay’s single-family homes is still lower than the median prices in 11 Florida metro areas.