where we’ve been in 2020 & 2021 and where we are heading in 2022 2022-04-02
Gulf Coast Real Estate Update
April 2nd 2022
Beach Front Condos Still Climbing
In all my years in the Real Estate business I’ve seen many market changes, but I think you’ll agree: these last two years have been historic. In the wake of the pandemic, demand for vacation properties shot up while many owners held tight. Our market for beach front condos in Pinellas County was no exception. For some perspective, let’s take a look at where we’ve been in 2020 & 2021 and where we are heading in 2022
Coming in to 2022, it’s a seller’s market. Supply remains short, mortgage rates are up and inflation has reared its ugly head. Prices on Gulf front condos have continued to escalate as buyers compete for the privilege of ownership with 61% paying cash.
Turn Key Opportunity in Oldsmar
$470,000
There’s nothing left to do this completely updated four-bedroom, two bath. This home, along with an oversized two car garage and attached workshop is situated on a large, quiet corner lot with plenty of room for expansion. more
Coming Soon
Mad Beach Bungalow
$900,000
Completely furnished turn key vacation rental on the beach side of Gulf Boulevard. 3 bedroom, 3 baths, Private tiki bar… No streets to cross for beach access. Airbnb style vacation rental with no minimums. Call Pete for details. 727-391-2829
Mortgage Rates Exceed 4.5 Percent
Mortgage rates continued moving upward in the face of rising inflation as well as the prospect of strong demand for goods and ongoing supply disruptions. Purchase demand has weakened modestly but has continued to outpace expectations. This is largely due to unmet demand from first-time homebuyers as well as a select few who had been waiting for rates to hit a cyclical low.
