Tampa Homes for Sale Topped the Florida Market in February

Published by nora | Filed under Market Trends, Miscellaneous, Real Estate

Existing homes for sale in Tampa were among the most sought after in Florida in February as the Tampa metro area posted the highest number of pre-owned single-family units sold during the month.

Based on a report from Florida Realtors, 2,375 pre-owned homes in the Tampa-Clearwater-St. Petersburg were sold in February, an increase of 16 percent from the 2,050 units in February last year.

The top five metro areas based on number of existing homes sold in February were the following:

1. Tampa-Clearwater-St. Petersburg – 2,375 units
2. Orlando – 2,063 units
3. Fort Myers-Cape Coral – 1,106 units
4. Jacksonville – 1,017 units
5. Fort Lauderdale – 909 units

The Tampa area was also one of the 11 metro areas that posted the highest rates of year-over-year increases in existing single-family home sales in February. The six were the following:

1. Melbourne-Palm Bay-Titusville  –  57 percent
2. Panama City  –  45 percent
3. Boca Raton-West Palm Beach  –  32 percent
4. Fort Walton Beach  –  31 percent
5. Miami  –  21 percent
6. Jacksonville  –  21 percent
7. Miami  –  21 percent
8. Sarasota-Bradenton  –  19 percent
9. Tallahassee  –  19 percent
10. Tampa-St. Petersburg-Clearwater  –  16 percent
11. Fort Lauderdale  –  16 percent

Sales of condos and co-ops also increased in the Tampa area in February, according to Florida Realtors. A total of 947 condo and co-op units were sold, representing an increase of 33 percent from the 710 units sold in last year’s February and the third highest sales total among the metro area’s sales. Fort Lauderdale topped the chart, with 1,357 condos sold, followed by West Palm Beach which sold 978 units.

However, despite the increase in sales of existing homes, the median prices for Tampa homes for sale in February fell. In the Tampa area, the February 2010 median price of $111,100 represented a decrease from $128,100 in February last year for single-family homes sold. Median condo and co-op prices also fell in the Tampa area, with the $89,200 median price in February last year dropping by a sharp 27 percent to $65,100.

The metro areas with the biggest drops in median prices in February this year for single-family homes were the following:

1. Miami – 23 percent
2. Lakeland-Winter Haven – 18 percent
3. Melbourne-Palm Bay-Titusville – 18 percent
4. Ocala – 17 percent
5. Pensacola – 16 percent
6. Tampa – 13 percent

The top metro areas with the most affordable median prices for pre-owned single-family homes as of February this year were the following:

1. Ocala    –   $75,000
2. Lakeland-Winter Haven   –   $83,000
3. Melbourne-Palm Bay-Titusville   –   $87,700
4. Fort Myers-Cape Coral   –   $91,500
5. Punta Gorda   –   $97,500
6. Daytona Beach   –   $102,100
7. Tampa-Clearwater-St. Petersburg — $111,100

As one can see from the charts, the Tampa area registered the highest volume of sales but didn’t top the other rankings. It’s safe to say that buyers of Tampa homes for sale also gave weight to factors other than price in choosing existing homes in Tampa.

Find out why Tampa homes for sale topped the Florida ranking in February. Explore your next home together with the Tampa4U.com team.