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Market Reports-Seminole Heights Area Zips
March 19th, 2008 categories: Seminole Heights Homes, Short Sale Information, Tampa Neighborhoods
2007 4th Quarter (October-December) Sales Report
33603 (South Seminole Heights, North Riverside Heights, Wellswood, etc)
- Average Sale Price:$ 152.4k
- Price Change from Q4 2006: -16.13%
- Sales Volume Change from Q4 2006 : -45.95%
33604 (North (Old) Seminole Heights, Lowry Park area, Sulphur Springs, etc)
- Average Sale Price:$ 154.9k
- Price Change from Q4 2006: -15.22%
- Sales Volume Change from Q4 2006 : -43.75%
Prices, along with sales volume, continued to drop in both of these zips from late 2006 through late 2007. These areas had a high volume of rehabs and investor flips occurring during the heat of the seller’s market back in 2004-2005. This was pushing prices up quickly and making taking away one of the main draws of the area-affordability. Prices have been and are still correcting in these zips for the most part. Only the best properties in the best locations are holding value.
These zips have many bank-owned properties (relative to others) and there are many sellers trying to short sell their homes to avoid foreclosure. That noted, there are some good buying opportunities currently for those that can stomach the process of waiting for third party approval (short sales).
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