The average list price for Tampa-St. Petersburg-Clearwater, Florida area homes was $171,900 in March 2014, up 10.9% from March of last year, according to the National Housing Trend Report for March 2014 written by Realtor.com. That's below the U.S. median of $199,900. Meantime, the market ranks sixth in the number of available listings out of 146 metropolitan regions ranked by Realtor.com. This means somewhat low prices and a good amount of supply – a promising opportunity for home potential buyers.
The properties currently listed for sale on realtor.com for the Tampa Bay, range in selling-price from the mid-teens for a small 1-BD,1-bath condo in need of a little renovation to $17.5 million for a twenty-three thousand plus square foot, gated waterfront home with two pools, tennis court, basketball court, carriage house and boat docks. Of nearly nine thousand houses listed on realtor.com, there are currently eighty-two single-family homes and condos/townhomes for sale in the $171,900 to $175,000 price range. Here's what's for sale for $175,000 in the Tampa Bay market.
Attention First-Time Buyers
The Tampa-St. Petersburg-Clearwater market is the 2nd best city for 1st time homebuyers, according to a new report by Realtor.com listing the top 10 metro areas for new purchasers. The only place that ranked better was Pittsburgh, PA. The 5 key factors that make a market perfect for 1st time homebuyers:
Market popularity. first-time buyers often "move up" to a bigger home within a few years. Purchasing in a popular area helps ensures they can make a profit when it's time to move.
Prices. Buyers have to be able to afford the mortgage as well as the down payment.
Inventory. Markets with short-supply inventory often have bidding wars in which first-time buyers can easily be out-bid by investors or buyers who can spend more. large amounts of inventory reduces the likelihood of these bidding wars.
Time on market. The median age of inventory is an indicator of demand in a particular area. Areas where houses are on the market for a limited amount of time, typically because of increased demand, can also lead to bidding wars.
Unemployment rates. A lower unemployment rate means first-time buyers are more likely to find and keep jobs and be able to pay their mortgages.
The largest real estate markets in the top ten list were in Florida. In addition to Tampa-St. Petersburg-Clearwater, newbies were directed to the Orlando and Jacksonville city areas. The others in the top ten: Philadelphia, and its New Jersey suburbs.; Philadelphia; Fort Worth-Arlington,Texas; Dallas; Raleigh-Durham-Chapel Hill; and Phoenix-Mesa.
What $175,000 Will Buy
There's a big inventory of homes at the $175,000 range, including a number of short sales. In the single-family house market, buyers will find 1-level, ranch style houses with between two and five bedrooms and from 1-4 baths. Size varies greatly; $175,000 can get you anything from an upgraded two-bedroom, one-bath bungalow with 864 square feet ($203/sq. ft.) to an older five-bedroom, four-bathhome with 3,056 square feet ($57/sq. ft.). Some houses are part of homeowners' associations that offer community benefits, such as swimming pools, and a few have private pools and/or spas.
In the condo/townhome market, home buyers will find many one-bedroom, one-bath or 2-bed/2-bath properties. Units vary in size from a 731-square-foot modern condo ($239/sq.ft.) to a 3-bed/2-bath, short-sale townhome with 1,848 square feet ($95/sq. ft.). At this selling price, buyers can find hardwood/tile flooring, updated kitchens with granite countertops, and community amenities including swimming pools, tennis courts and fitness centers.
An experienced St.Petersburg realtor can help you find a house that fits your needs.
The properties currently listed for sale on realtor.com for the Tampa Bay, range in selling-price from the mid-teens for a small 1-BD,1-bath condo in need of a little renovation to $17.5 million for a twenty-three thousand plus square foot, gated waterfront home with two pools, tennis court, basketball court, carriage house and boat docks. Of nearly nine thousand houses listed on realtor.com, there are currently eighty-two single-family homes and condos/townhomes for sale in the $171,900 to $175,000 price range. Here's what's for sale for $175,000 in the Tampa Bay market.
Attention First-Time Buyers
The Tampa-St. Petersburg-Clearwater market is the 2nd best city for 1st time homebuyers, according to a new report by Realtor.com listing the top 10 metro areas for new purchasers. The only place that ranked better was Pittsburgh, PA. The 5 key factors that make a market perfect for 1st time homebuyers:
Market popularity. first-time buyers often "move up" to a bigger home within a few years. Purchasing in a popular area helps ensures they can make a profit when it's time to move.
Prices. Buyers have to be able to afford the mortgage as well as the down payment.
Inventory. Markets with short-supply inventory often have bidding wars in which first-time buyers can easily be out-bid by investors or buyers who can spend more. large amounts of inventory reduces the likelihood of these bidding wars.
Time on market. The median age of inventory is an indicator of demand in a particular area. Areas where houses are on the market for a limited amount of time, typically because of increased demand, can also lead to bidding wars.
Unemployment rates. A lower unemployment rate means first-time buyers are more likely to find and keep jobs and be able to pay their mortgages.
The largest real estate markets in the top ten list were in Florida. In addition to Tampa-St. Petersburg-Clearwater, newbies were directed to the Orlando and Jacksonville city areas. The others in the top ten: Philadelphia, and its New Jersey suburbs.; Philadelphia; Fort Worth-Arlington,Texas; Dallas; Raleigh-Durham-Chapel Hill; and Phoenix-Mesa.
What $175,000 Will Buy
There's a big inventory of homes at the $175,000 range, including a number of short sales. In the single-family house market, buyers will find 1-level, ranch style houses with between two and five bedrooms and from 1-4 baths. Size varies greatly; $175,000 can get you anything from an upgraded two-bedroom, one-bath bungalow with 864 square feet ($203/sq. ft.) to an older five-bedroom, four-bathhome with 3,056 square feet ($57/sq. ft.). Some houses are part of homeowners' associations that offer community benefits, such as swimming pools, and a few have private pools and/or spas.
In the condo/townhome market, home buyers will find many one-bedroom, one-bath or 2-bed/2-bath properties. Units vary in size from a 731-square-foot modern condo ($239/sq.ft.) to a 3-bed/2-bath, short-sale townhome with 1,848 square feet ($95/sq. ft.). At this selling price, buyers can find hardwood/tile flooring, updated kitchens with granite countertops, and community amenities including swimming pools, tennis courts and fitness centers.
An experienced St.Petersburg realtor can help you find a house that fits your needs.