TAMPA, FL, August 9, 2016 (Newswire.com) - Home prices in the bay area this year have increased more than almost any metro area in Florida; but, with the number of sales remaining relatively the same as last year, it is clear prices are being driven by the very low supply of homes on the market. In an interview with the Times, veteran Tampa realtor Joe Lewkowicz explained how the market is fairing in one of Florida’s most sought after zip codes.
Lewkowicz, who has served Tampa’s Northdale and Carrollwood areas for more than 35 years, has seen his fair share of ups and downs in the market. He reported, to his surprise, that half of the homes sold in those areas last month went for the full asking price.
“If I went one year back in Northdale, you could probably find 15 to 20 houses below $200,000 actively on the market,” Lewkowicz told reporter Susan Martin. “Now, there’s no house under $200,000 and below $250,000, we only have four active on the market.”"If I went one year back in Northdale, you could probably find 15 to 20 houses below $200,000 actively on the market," Lewkowicz told reporter Susan Martin. "Now, there's no house under $200,000 and below $250,000, we only have four active on the market."
To illustrate how scarcity is affecting current market prices, Lewkowicz visited a Northdale golf course home. Lewkowicz sold this particular home in 2010 for $256,205, one of the highest prices in the area. Since 2010, the current owners have done very little to change the property or the home itself. The home is now under contract for $320,000.
Northdale and Carrollwood aren’t the only areas where availability has caused a significant effect on real estate pricing. Charles Richardson, senior regional vice president for Coldwell Banker, spoke on the phenomenon occurring across Hillsborough, Pinellas, and Pasco counties.
“It is still apparent we have more buyers than sellers in our market,” he said. “The [bank-owned] and short-sale listings are down to the lowest levels in over 10 years.”
In his many years of experience as a Tampa area realtor, the supply is some of the tightest Lewkowicz has ever seen. Realtors in St. Petersburg’s Historic Kenwood and Harshaw Lake, Largo and Seminole, and Tampa’s Davis Island area are also working to balance the very low supply with an equally high demand.
But, this housing trend may be affecting more than just the tri-county area, according to Matey H. Veissi, president of Florida Realtors.
“Florida’s housing market is experiencing tight supply and pent-up demand,” Veissi said. “That’s affecting the pace of sales and putting pressure on statewide median prices. Florida’s economic growth, rising jobs outlook and acclaimed quality of life continue to draw new residents eager to call the Sunshine State home.”
While high demand for homes in the Northdale and Carrollwood neighborhoods is nothing new to Joe Lewkowicz, the low supply is something realtors across the state are battling. For now, Lewkowicz will continue to serve buyers and sellers in the North Tampa area with his decades of experience and valuable real estate knowledge as they transition into homes of their dreams. For the Full story, click here.
For more information regarding Joseph Lewkowicz and the current real estate market, please contact media relations liaison, Dana Blickensderfer at Info@iBossAdv.com
About Joe Lewkowicz
With over 35+ years of experience, Joe has proven himself to be a prominent figure in the Tampa Bay Real Estate market. Selling thousands of homes throughout his career, Joe is known for his exceptional customer service, attention to detail, market-savviness and calculated decisions. Search for North Tampa FL homes for sale on the most up-to-date Real Estate MLS in Mid-Florida at: https://josephlewkowicz.com. "No-One Works Harder To Sell Your Home!" For more information visit: http://www.sellyourhometampa.com/
Source: Joseph Lewkowicz