It costs about 20% more to buy a home in the Tampa Bay area than it did last year.
ST. PETERSBURG, Fla. — It’s no secret housing prices have been going up. Amid the skyrocketing prices, there has been high demand and a somewhat short supply for prospective homebuyers.
A recent study from Redfin shows several Florida metros are the fastest-growing areas for median house prices across the country.
Data shows St. Petersburg is the 4th fastest-growing sales price in the nation.
But it goes beyond just St. Pete. Aside from Detroit, Mich. and Myrtle Beach, SC, all of the top 10 metros on the fastest-growing list are here in Florida.
Lehigh Acres beats out St. Petersburg, which is then followed by Port St. Lucie, Cape Coral, Palm Bay, Riverview, West Palm Beach and Kissimmee.
In St. Petersburg, homes only stay on the market — on average — eight days before they’re sold. And, the median price for those homes is currently $379,000. That’s a 22.3% increase compared to 2021. However, fewer homes were sold at this time in comparison to last year.
Last month, Florida Realtors said the statewide median sales price for single-family homes in June was $420,000. That’s an increase of nearly 20 percent (19.7%) compared to last year. The condo-townhome median price last month was $324,900, an 26.4% increase from a year ago.
But, Florida Realtors said while the year-over-year percentage was up, the average price has stayed the same since May. That hasn’t happened from May to June since 2008, the organization added.
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