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Fla.’s Housing Market Ends 2017 on the Upswing: More Sales and Price Gains – Tampa Bay Business Journal

ORLANDO, Fla., Feb. 13, 2018 /PRNewswire-USNewswire/ — Florida’s housing market wrapped up 2017 with more sales, higher median sale prices and fewer sales of distressed properties compared to the year before, according to the latest housing data released by Florida Realtors®.

“This past year, the still-tight inventory of homes for sale in Florida couldn’t meet growing buyer demand,” said 2018 Florida Realtors President Christine Hansen, broker-owner with Century 21 Hansen Realty in Fort Lauderdale. “If supply could have kept pace, home sales likely would have been even stronger in 2017 – and of course, the state also felt the impact of Hurricane Irma that made landfall in the Keys on Sept. 10, 2017.

“Florida’s economy is growing, the jobs outlook remains strong and more people are moving to the Sunshine State. And while mortgage interest rates are rising, they are still at favorably low levels. All of these factors are positive signs for the state’s housing market in 2018.”

Year-end 2017
Statewide closed sales of existing single-family homes totaled 271,868 in 2017, up 1.2 percent compared to the 2016 figure, according to data from Florida Realtors research department in partnership with local Realtor boards/associations.

The statewide median sales price for single-family existing homes in 2017 was $237,500, up 8 percent from the previous year. New pending sales for existing single-family homes rose 0.1 percent in 2017 compared to 2016.

Looking at Florida’s year-to-year comparison for sales of townhouse-condos, a total of 111,088 units sold statewide in 2017, up 2.9 percent from 2016. The closed sales data reflected fewer short sales and foreclosures statewide in 2017 compared to the previous year: Short sales for condo-townhouse properties declined 37.6 percent and foreclosures dropped 49.2 percent; short sales for single-family homes dropped 36.9 percent while foreclosures declined 46.5 percent.

The statewide median price for townhouse-condo properties in 2017 was $172,500, up 7.8 percent over the previous year. New pending sales for townhouse-condos for the year increased 2.3 percent compared to a year ago.

At the end of 2017 and also for 4Q 2017, inventory for single-family homes stood at a 3.6-months’ supply, while inventory for townhouse-condo properties was at a 5.6-months’ supply, according to Florida Realtors.

“Overall, 2017 was a strong year for single-family home resales in Florida,” said Florida Realtors Chief Economist Dr. Brad O’Connor. “New listings of existing homes priced between $200,000 and $600,000 were up in a significant way compared to 2016, but these properties were quickly absorbed thanks to strong buyer demand driven by Florida’s booming economy. As a result, mid-range inventory remained somewhat flat on a year-over-year basis, while the number of listings priced below $200,000 continued to decline dramatically.

“Annual sales growth in Florida’s resale market for single-family luxury homes nearly ground to a halt in 2016, but this segment experienced a decent uptick in sales in 2017. Fewer new listings and more realistic pricing expectations by sellers were likely contributors to this renewed growth. The housing shortage impacting Florida and the rest of the nation continues to be contained to the lower price tiers, whereas the opposite issue – an overabundance of listings – is having the opposite impact on many local luxury markets.”

The interest rate for a 30-year fixed-rate mortgage averaged 3.99 percent for 2017, up significantly from the previous year’s average of 3.65 percent, according to Freddie Mac.

4Q 2017
Statewide closed sales of existing single-family homes totaled 63,436 in the fourth quarter of 2017, up 2 percent compared to the year-ago figure, according to data from Florida Realtors research department in partnership with local Realtor boards/associations. Closed sales typically occur 30 to 90 days after sales contracts are written.

O’Connor noted, “The fourth quarter figures show that the vast majority of Florida’s local housing markets recovered quite quickly from Hurricane Irma. Closed sales were up year-over-year, and prices continued to climb as if nothing happened at all. Inventory continued to fall in the fourth quarter as well, so the longer-term trends in the housing market as of the beginning of 2017 appear to have remained in place at year’s end.”

The statewide median sales price for existing single-family homes for the quarter was $240,000, up 7.2 percent from 4Q 2016. New pending sales for existing single-family homes for the quarter rose 5.4 percent compared to a year ago, while new listings increased 4 percent.

Looking at Florida’s year-to-year comparison for sales of townhouse-condos, a total of 25,544 units sold statewide in 4Q 2017, up 4.7 percent compared to the same period a year earlier. The closed sales data reflected fewer short sales and foreclosures statewide in the fourth quarter compared to the same time a year ago: Short sales for condo-townhouse properties declined 24.9 percent and foreclosures dropped 41.8 percent; short sales for single-family homes dropped 34.4 percent and foreclosures declined 44.3 percent.

The statewide median price for townhouse-condo properties in 4Q 2017 was $175,000, up 6.6 percent over the previous year. New pending sales for townhouse-condos for the quarter increased 8.7 percent compared to a year ago, while new listings rose 6.8 percent.

To see the full statewide housing activity reports, go to Florida Realtors Media Center at http://media.floridarealtors.org/ and look under Latest Releases, or download the 4Q and Year End 2017 data report PDFs under Market Data at: http://media.floridarealtors.org/market-data

Florida Realtors® serves as the voice for real estate in Florida. It provides programs, services, continuing education, research and legislative representation to its 180,000 members in 54 boards/associations. Florida Realtors® Media Center website is available at http://media.floridarealtors.org.

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SOURCE Florida Realtors

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Top Tampa FL Restaurants For Your Family’s Vacation

Part of Hillsborough County, Tampa FL is working on its first half million people. Traveling through Florida, you might have been to Tampa before even if you haven’t vacationed there. It’s quite the popular city, and there are great attractions and beaches there. You are also going to get a great bite to eat if you choose one of these top Tampa restaurants.

Wright’s Gourmet House is located on S Dale Mabry Highway, and have you heard of a beef martini? They have gourmet cakes, sandwiches, salads and more. Stopping by Wright’s Gourmet House certainly seems like a treat. According to the reviews, the restaurant was also remodeled not too long ago.

Eddy V’s Prime Seafood is Tampa’s next best establishment, and then you have La Terrazza Restaurant and Brocato’s Sandwich Shop. Happy Fish rounds out the top five restaurants, but let’s take a closer look at what’s beneath the surface. Datz Tampa is located on MacDill Avenur, and they have what is known as monkey bread. They also have delicious sandwiches, burgers and everything you need for brunch.

Then there is a restaurant called Ulele, which is located on N Highland Avenue. Ulele serves up delicious duck, oysters, chili, meatloaf and more. Daily Eats is another top spot located on Howard Avenue. They have burgers, French toast, grits and all kinds of goodies on the menu.

La Teresita Restaurant is located on West Columbus Drive, and roast pork, yellow rice, Cuban bread and all kinds of delicious Cuban Cuisine. On Swann is another top selection off of Swann Avenue, and this place served up beet salads, hot chicken, pork chops and more. Besito Mexican Restaurant is up next, and it is located in West Shore Plaza.

What do you think about these top Tampa restaurant picks so far? There are some good ones for sure. If you have never tried Cuban Cuisine in Florida, that is one thing you will want to do. Tampa has approximately 1,694 restaurants, so these several mentioned here did a lot right to be near the top.

Think about that as you search out places to eat in Tampa. You will see all kinds of cool places, but you will be able to find the highlighted restaurants here, too. We did the homework for you, and these restaurants are top notch. Your Tampa vacation just got that much better, don’t you think?

Lexington and the apartment for rentals

The sunshine on the river side, holding the hands of your loved ones really feel like heaven. Planning to move into a place with the feel like all the luxuries in nature and man-made creation! The place, having all the luxuries in life is the Lexington. Owing to its beauty, it has been the most preferable place of all the most of the families and newly married couples. The city is known for its hospitality and tourism. Owing to its best facilities in every aspect whether business, educational or vocational perspective, it has been the most preferable place for all. The best place to live in the city are luxury apartments lexington ky than the hotels. The apartments are a complete source of reliabilities and luxuries.
Renting an apartment carries a lot of information regarding the place to book in. People travelling for longer period need a place having all the accommodations around and inside! Location of the apartments is what matters a lot. The budget in the apartments depends upon the location of the apartments. Having the best location in town with all the facilities like schools, hospitals, restaurants, hotels and others near, carries a more budget than the apartments away from home. The locations of the apartments should be like that away from noisy areas, making the people living reliable in every aspect.

Tourists and the people coming for their perspective purposes, demand, according to their assets. Some of them needs the rooms with the best luxuries, but for those who can’t afford needs a place with less facilities. The apartments provide the guests with same facilities except for those living for a longer period and for those living for shorter periods. The people on a contract basis are provided with never ending accommodations in every aspect like free health care facility, free maintenance service, club house, fitness center, free transportation, reserved car parking and many more facilities. The facilities for the people arriving for shorter period depends on their demands. They are also provided with the best facilities and the extra accommodations on their demand.

The facilities in all the rooms include the same, i.e. air conditioned rooms with the availability of ceiling fan, all the rooms have an attached private bathroom with the balcony in all the rooms are properly carpeted giving a true luxury of life. The rooms have 24/7 high speed wireless internet facility along with the cable connection network. The furniture in the rooms is totally renovated providing the best environment in. The apartments also carry a laundry room facility having the dryer and washer. The rooms booked by the people on contract carry the kitchen facility having all the appliances including microwave oven, refrigerator, water boiler, garbage disposal, crockery, sink and other stainless steel appliance that are used in daily life purpose.

A lot of other amenities include a pet friendly environment in some of the rooms, oversized closets, reserved and guest car parking, shed and extra storage facility. All the guests living, are to be provided with a complimentary breakfast along with the daily newspaper.
A lot more accommodations are available in these apartments, discussing them could take much more time. Although, these apartments are the best source of luxury and the best alternates to your home.