The number of cash sales has increased 20% 2022-05-12
Gulf Coast Real Estate Update
May 12th 2022
Cash Sales Increasing
The number of cash sales in the Tampa – St. Petersburg – Clearwater MSA have increased 20% from the first quarter of 2021 to the first quarter of 2022. 39% of all residential buyers in our market paid cash at closing.
Cash sales in some niche markets have been even higher. 74% of Gulf Front Condo Sales closed in the Madeira / Redington Beach market in the last 90 days have been deals.
Coming Soon
Shore Mariner Condo.
2 Bedroom – 2 Bath
Direct Gulf Front
South West Exposure
55 + communitty with all the amenities.
$750,000
More Market Stats
Mortgage Rates Continue to Increase
Homebuyers continue to show resilience even though rising mortgage rates are causing monthly payments to increase by about one-third as compared to a year ago. Several factors are contributing to this dynamic, including the large wave of first-time homebuyers looking to realize the dream of homeownership. In the months ahead, we expect monetary policy and inflation to discourage many consumers, weakening purchase demand and decelerating home price growth.
