In Hillsborough County, home and condominium resales rose in October. However, there’s still a debate about the housing market recovery.
According to the Florida Association of Realtors, sales of existing single-family homes in the Tampa-Lutz market rose nearly 50 percent in October compared to the same month a year ago. Sales of previously-owned condos also escalated.
Bargain-hunters and first-time homebuyers seeking the federal tax-credit deadline pushed the sales spike. This led to a decrease in the median sales price from a year ago.
Lutz, FL remains a growth area as the Tampa Bay area population spreads out. New construction, such as Long Lake Ranch, will continue to bring in more residents and eventually, more local businesses. Rental rates remain high across the board in Lutz, with limited supply causing an acceptable level of demand.
Whether you are looking to purchase a condo on the 10th-hole or a beautiful home in the Lutz area, prices are right for an investment in a rental property.