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Smart Vacation Home Buys-How we stack up in Tampa Bay 2008 vs 2010

Aol Money and Finance posted an article about the Best Places to buy a second home or vacation home. I decided to do some research based on their criteria for a smart Vacation Home Buy.

What Makes a Smart Vacation Home Buy?

1. Affordable: homes for less than $350K

2. Convenient: less than three hours from a major city

3. Active vacation rental market

4. Plenty to do.

5. Room to grow: an unsaturated market, situated near upscale destinations

Anyone would agree that the Tampa Bay area fits into their criteria of top 10 list of best places to buy a home. Based on the article, the recommended price of a vacation home investment to be no more than 350,000.

 First, I searched our MLS database for homes for sale, which includes townhomes and condos. I based my search on a tri-county area Hillsborough, Pinellas and Pasco Counties. 

For those of you not familiar with counties in our area the citites include: Tampa, St. Petersburg, Clearwater, Palm Harbor, Safety Harbor Land O’ Lakes, Wesley Chapel, Brandon, All the Beaches, Harbour Island and Davis Islands.

The first thing I wanted to know was how many homes were on the market.  Are you ready for this?

The numbers for housing inventory at 350K or under.  The average home is a 3 bedroom, 2 bathroom, 1,454 sq ft. 

in August of 2008 there were:  29,874 active homes for sale. 

The average sales price was $154,616.

Moving ahead to May of 2010 the inventory has decreased to 21,404, indicating our market is stabilizing.  

Our average sales price is now $130,501.

 

If you would like to search the MLS database go to www.tampabaydwellings.com  You can search property in all 3 counties, save favorites, and schedule showings. Or contact a Real Estate Agent 813 784 7744 for questions.

Posted in: Housing Inventory, Tampa Real Estate Statistics Tagged: Best Places to buy a home, Second Home Statistics, Vacation Homes Tampa

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