Sales of Tampa Condos Helped Push Florida Condo Market

Published by nora | Filed under Buyer / Seller Tips, Market Trends, Miscellaneous, Mortgage / Finance, Real Estate

The surge in sales of Tampa condos in August contributed to the increase in sales of Florida condos during the same month. According to the Florida Realtors and the University of Florida Bergstrom Center for Real Estate Studies, sales of existing condos in Tampa increased over the year by 14 percent in August, helping post a 17-percent increase in sales of existing condos across Florida during the same month.

In August, a total of 834 Tampa condos got sold, with a median sales price of $83,000. These sales figures include condo units sold in St. Petersburg and Clearwater.

Throughout Florida, a total of 7,098 condo units were sold in August, a substantial increase from the 6,041 units sold in August last year. The median sales price statewide was $91,100, posting an increase of 12 percent from $81,500 in August 2010.

What’s good news in Tampa amid troubles in the real estate market nationwide was the relatively small drop in the prices of Tampa condos in August, compared to other U.S. cities and Florida cities. The median sales price of condos in Tampa fell by only 6 percent, much lower than the 25-percent price drop in Ocala, the 24-percent price drop in Tallahassee, the 13-percent drop in Gainesville, and the 9-percent decrease in the Boca-Raton-West Palm Beach area.

The top-selling condo markets in Florida in August were the following:

Fort Lauderdale	1,398 units
Miami	1,311 units
West Palm Beach area	1,012 units
Tampa area	834 units
Orlando	520 units
Fort Myers-Cape Coral	330 units

The highest-priced Florida condo markets in August were the following:

Pensacola	$235,700
Fort Walton Beach	$199,100
Daytona Beach	$162,200
Panama City	$162,000
Fort Myers-Cape Coral	$123,500
Sarasota-Bradenton	$123,300

The most affordable condo markets in August in Florida were the following:

Ocala	$37,500
Lakeland-Winter Haven	$53,300
Orlando	$59,000
Gainesville	$69,400
Punta Gorda	$76,000
West Palm Beach-Boca Raton	$77,000
Jacksonville	$77,800
Fort Lauderdale	$79,500
Tampa-St. Petersburg-Clearwater	$83,000

We can see from the above data that Tampa is still among the most popular markets, as seen in its sales ranking, and still one of the cities where condo prices did not decline as significantly as in other cities.

You can find condos in Tampa with features you’re looking for in other cities, such as access to beaches and lakes and proximity to downtown amenities, but at lower price levels.
The realtors that make up Tampa4U.com are owners of Tampa condos and single-family homes themselves, and have been listing, selling and buying homes in the Tampa Bay area for years. Go for experience, knowledge and helpfulness. Contact Tampa4U.com.