Good news for anyone still looking to buy in Tampa—price increases last month were among the smallest we’ve seen in about a year, according to new statistics recently released by Florida Realtors®.
Along with that, single-family home sales also declined year-over-year by 1.2% as many would-be buyers are being being priced out of what they want, or are perhaps waiting until inventory gets a little stronger heading into fall.
The Chief Economist at the National Association of Realtors also contributed the slow month to a slight increase in mortgage rates earlier in the year as well.
Even with the rate of price increases slowing, however, single-family homes in Hillsborough County still jumped 6.4 percent to $216,000 compared to July 2017, while Pinellas County saw a 4.2 percent hike and Pasco County a 3 percent increase. As noted by the Tampa Bay Times, the region’s highest-priced home sale in June was a six-bedroom, six-bathroom home near the Palma Ceia golf course in beautiful South Tampa, which sold for a cool $4.4 million.