Tampa Condo Prices Spike; Single-Family Home Price Gains Slow in June

Posted by Mike & Michelle Grizzell on Tuesday, July 25th, 2017 at 5:04pm.

Tampa Real Estate Market UpdateHome prices were once again on the rise in Tampa back in June, although at somewhat of a slower pace than what we’ve seen in recent months. For the first time in what feels like forever, the Hillsborough County median price saw just a single-digit jump last month, climbing 6.6% to $245,000 year-over-year, which actually represents the second smallest year-over-year increase over the past 12 months. 

Despite a relatively modest gain in home prices, at least compared to what we’ve recently been seeing, the Tampa housing market is hardly slowing down, however, especially for entry and mid-level homes priced between $200,000 and $500,000. 

According to a new report in the Tampa Bay Business Journal, the Tampa area condo market is also booming right now, as Tampa Bay condo and townhouse prices jumped 16.7% in June, reaching a median price of $157,700. 

For comparison sake, overall single-family home prices in Florida jumped by almost 9% year-over-year in June to $245,000, while condo prices only saw an increase of 7.2%, reaching a median price of $176,820. 

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