How Low Can Local Sellers Go?
Tuesday, June 26th, 2007TAMPA - Single-family home prices in the Tampa Bay area dropped 8 percent in May compared with the same month last year, figures released Monday show.
That’s the largest price drop the area has seen since home prices started falling four months ago, and a further sign that the home market has yet to rebound.
However, data released Monday from the Florida Association of Realtors show prices may be holding steady. The median sales price for the Bay area was $209,300 - relatively unchanged from April’s figures. The median is the midpoint, at which half the homes sold for more, half for less.
investment property