ST.PETERSBURG, Fla. (WFLA) – There’s no denying Tampa Bay’s real estate market is red hot.
In March, housing prices in the area increased nearly 20% 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 St.Petersburg, the most popular area of Pinellas County, buyers will commonly find remodeled older homes.
Realtor Amber Lewis with Berkshire Hathaway Home Services says house hunters will likely get less square footage for their money, but they’re paying for location.
Lewis showed us a $299,000 listing on 21st Street South, which she says is 10 minutes from downtown and about 15 minutes from St. Pete Beach.
The 4-bedroom, 2-bathroom home was built in the 1920s.
The house has quaint touches and quirks common among the trendy remodels in St. Petersburg.
Additions with window cooling units bring the total square footage to 1,668.
Lewis says buyers are less likely to find open flood plans in older homes.
Most house hunters will consider the school district and other tradeoffs before making a final decision.
Buyers will find older homes close to the water, but they’ll come at a higher cost.
“With new construction, there may be people who are tearing down on their own lot and rebuilding a home, but less developments and community plans,” she explained.
If you want a newer home, look at areas in northern Pinellas County, Lewis said.