Pinellas County real estate home still steadily climbing & inventory still falling, is this the start of a the boom!. Pricing for single family have come back to 2004 numbers in some areas and higher in others! Just 12 months ago you could by an updated 3 bed 2 bath home with 1,500 sqft on the water in NE St. Pete for around $280,000 today you are going to pay closer to $350-$380k if you can be the first one there! Waterfront homes are in high demand today, as are condos in downtown St. Pete.
There are a number of factors which are fueling this fast rebound, Wall Street investors like Blackstone, investors flipping and renting (as homes now cash flow), buyers who have been sitting on the side lines waiting for the market to show signs of a recovery and tenants now ready to purchase their first home, with historic low interest rates sub 4% it’s never been a better time to buy.
If you’re a seller who’s been considering selling, with such limited inventory and Buyers hungry for a clean ready to move in home, and in a lot of cases willing to pay above market to get into a home before they are priced out this could be the right time for you too.