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Condominium sales are down statewide, but not in the northern part of the Tampa Bay area.
Existing sales in Hillsborough, Pinellas, Pasco and Hernando counties jumped 15% in January compared to the year before, according to Florida Realtors. That's opposite a trend of a nearly 2% decline throughout the rest of Florida.
The Tampa region had 942 sales, selling at a median price of $100,000 — up 3.6% from the year before. Median sales statewide had increased more than 5% to $137,000.
In Sarasota and Manatee counties, however, condo sales dropped nearly 8%, although median prices grew 18% to $177,000.
On the single-family side, sales improved 9% in the greater Tampa area to 2,553 homes in January. The median price rose more than 6% to $145,000. More than 900 single-family homes were sold in the greater Sarasota area, a 6% increase from the year before. The median price also was up nearly 9% to $217,500.
One takeaway from the report: It's time to build more houses, especially those selling for less than $250,000, says Florida Realtors chief economist John Tuccillo.
“Inventories for both single-family homes and townhouses and condos are shrinking,” he says in a release. “Right now, new construction remains the best option for households of moderate income. Adding to this is the continuing rapid decline of short sales, an ongoing trend that is likely to continue.”
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