November 2018 is a Neutral market!
The number of for sale listings was up 13.5% from one year earlier and up 6.6% from the previous month. The number of sold listings increased 1.2% year over year and decreased 6.1% month over month. The number of under contract listings was down 2.5% compared to previous month and up 1% compared to previous year. The Months of Inventory based on Closed Sales is 3.3, up 13.8% from the previous year.
The Average Sold Price per Square Footage was up 6.8% compared to previous month and up 18.7% compared to last year. The Median Sold Price increased by 0.4% from last month. The Average Sold Price also increased by 6.9% from last month. Based on the 6 month trend, the Average Sold Price trend is "Appreciating" and the Median Sold Price trend is "Neutral".
The Average Days on Market showed a neutral trend, a decrease of 7% compared to previous year. The ratio of Sold Price vs. Original List Price is 94%, was the same compared to previous...
Tampa Bay Times Original Article
St.Petersburg Development Review Commission unanimously approved a 20-story tower that would replace several affordably priced apartment buildings.
Published December 7
ST. PETERSBURG — Unable to afford life in California any longer, Susan Olsen moved to St. Petersburg and found an apartment in a building downtown for $750 a month.
She might not be there much longer.
On Wednesday, the city's Development Review Commission unanimously approved a $69-million, 20-story tower that would replace several quaint old apartment buildings that are...
Though ONE St. Petersburg is not yet finished, some buyers hope to flip their units for hefty profits as Tampa Bay's luxury condo boom continues unabated.
By Susan Taylor Martin
Published December 6
ST. PETERSBURG — Less than a month ago, an investor paid $511,200 for a unit in Tampa Bay's newest condo tower, ONE St. Petersburg.
This week, she sold it — for $702,000.
Though the 41-story tower in downtown St. Petersburg is not yet finished, several buyers already have moved in while others hope to quickly flip their units — at hefty profits — as the bay area's luxury condo boom...
A decade after the Great Recession of 2008, commercial real estate in St. Petersburg is booming.
Vacancy rates are at a 20-year low and lease rates are at a 20-year high for downtown office buildings. New economy companies, especially those in the life sciences and technology sectors, make up a growing percentage of the tenants downtown as their real estate needs match the available space. The city is poised to get its first new office building in the downtown core in nearly 30 years, and a pending project — the redevelopment of the 86-acre Tropicana Field site — is creating buzz nationwide.
“The type of people knocking on the door today has changed drastically,” said Alan DeLisle, a veteran economic developer who was named St. Petersburg’s city development administrator in 2014. “The quality and the types of...