Housing prices around Tampa continue to rise

Latest report shows Tampa is a 'seller's market'
Posted at 6:01 PM, Dec 22, 2016
and last updated 2016-12-22 18:01:03-05

The latest real estate report shows housing prices around Tampa are continuing to get higher.

The report, by real estate website Zillow, shows the cost of a home for sale around Tampa is up by around 11 percent year to year since 2006.

The average home goes for around $177,000.

However, that depends on where you're looking.

The average home in South Tampa sells for around $400,000.

Lisa Spencer, general manager at the Chadwick Group, says families, especially military serving at MacDill Air Force Base are heading further east, to East Hillsborough County to find more affordable homes.

There, the average home goes for a little more than $200,000.

Other popular areas include Westchase and Seminole Heights.

Prices are inching closer to what they looked like before the housing bubble burst.

"I think we're beyond the light at the end of the tunnel," said Spencer.  "We're actually in a full steam ahead market." 

In fact, the demand to buy homes is so high, Spencer says real estate agents on her team at Keller Williams Realty are having to knock on doors to get to buyers selling their homes before they hit the market.

But Spencer doesn't limit buying to the suburbs.

"It's about location and lifestyle," she said.

Finding a home will cost more in popular areas like South Tampa, but she suggests people wanting to move there to consider other options, like purchasing an apartment instead. 

You could also rent.

According to the Zillow study, rent prices are going down by around 10 percent, but the average rent remains at $1,300 a month.

"It's important for people to base their decision on a home as to how they'll live in it," said Spencer, "rather than three bedrooms and two bathrooms."