Home sales in Tampa Bay outstrip statewide pace
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Home sales in Tampa Bay outstrip statewide pace
(old news - 10:59PM Monday Sep 26 2005)
Sales of single-family existing homes in Florida rose 4 percent in August, following a dip in statewide resales activity reported for each of the previous two months, according to the Florida Association of Realtors.

Statewide, a total of 21,318 homes changed hands in August 2005 compared to 20,491 homes a year ago.

The statewide median sales price rose 31 percent last month to $246,500; a year ago, it was $188,700. In 2000, the statewide median sales price for single-family existing homes was $117,100, which translates to an increase of about 97.8 percent over the five-year period, according to FAR records.

Tampa Bay Business Journal

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Dragasoni @ 27th Sep 05:16PM:
Ridiculous

This is an “artificial bubble” that will soon burst sending lots of home owners into foreclosure. It would be wise to hold off on purchasing a home for the time being, as I truly believe the high fuel costs trickling down through our economy will have devastating affects on all types of sales in America.

Will we see the same prices we did in 2000? I highly doubt it. But an increase of nearly 100% in five years is insane, and you’d have to be crazy to think that increase is going continue, rise at a elevated rate, or even plateau off. It’s going to fall, especially condos which there are an overage of in this area already.

-Dragasoni-
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»www.dragasoni.com

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lilhurricane @ 28th Sep 07:00AM:
Re: Ridiculous

I agree, although I think it has alot to do with an areas growth. Prices and values can't continue to rise...
We will certainly see "leveling off"...but I'm not convinced I'll be losing anything on my home.
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Dragasoni @ 30th Sep 12:27PM:
Re: Ridiculous

said by lilhurricane :

I agree, although I think it has alot to do with an areas growth. Prices and values can't continue to rise...
We will certainly see "leveling off"...but I'm not convinced I'll be losing anything on my home.
I agree with you based on two facts:

1. You're in a home, not a condo.
2. You're area is not as over-priced as Tampa Bay and Sarasota.

I think condo prices will definitely drop significantly across the state within a few months.

-Dragasoni-
--
»www.dragasoni.com

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