Lower prices are driving home sales in Tampa. The Florida Association of Realtors is reporting a 10% increase in the number of homes sold during the third quarter when compared to last year in the Tampa Bay region.
The Tampa Bay area saw the median sales price of a single-family homes drop by 19% to $169,700, which is the lowest price since May 2004. Bargain hunters are enjoying a banner season. Realtors estimate that up to 60 percent of Florida properties that are selling are distressed homes: short sales, pre-foreclosures or bank owned (REOs).
- By Dale Bohannon
