MANATEE COUNTY, Fla (WFLA) – Tampa Bay’s real estate market is red hot.
Housing prices in the area increased nearly 20% in March from the previous year, according to local realtors. According to Redfin, the average price of a home in Tampa Bay is $300,000 and, depending on the area, you could get a little more or less for that price tag.
In Manatee County, Keller Williams realtor Jordan Jones says the average price for a 3-bedroom, 2-bathroom home is $320,000.
The house on 81st Avenue Terrace East that 8 On Your Side toured had obvious room for improvements and a price tag of $295,000.
“Anything that’s under $300,000 is going to be a fixer-upper and need a little more TLC,” Jones explained.
She tells 8 On Your Side it’s why the features in the 1,4000-square-foot home, built in 1991, seem outdated.
The home sold in 2019 for $105,000 and was purchased in 2021 for $295,000 after just four days on the market. Jones says it’s what buyers can expect if they’re lucky enough to find a home at the $300,000 price point.
“For bang for their buck, it is a lot more flipping we’re seeing, but it’s very hard to find properties that you can flip that are in a good price range,” the realtor said.
The majority of Manatee County homes were built in the 1970s or 1980s, according to Jones.
Now, she says, the market has more families turning to new construction.
“New construction has been very, very popular because it’s move-in ready and also, buyers are not having to deal with a bidding war,” Jones said.
She suggests having your pre-approval and paperwork ready before reaching out to an agent.
“For buyers, it’s extremely challenging because it’s so competitive,” explained Jones. “Really some of the houses are going within 24 hours.”