Entries by DomresRealEstate

Luxury home sales in Tampa Bay on pace to set new records in 2022

The number of luxury home sales of $5 million and up is on pace to top 2021’s record year through the first eight months of 2022. The Highest-priced Homes Sold List that was published in January included 137 homes sold in 2021 for $5 million or more. So far in 2022, there have already been 105 sales above that threshold, putting the region on pace for around 160 total this year. Both 2021 and 2022 figures dwarf the totals in previous years when the Tampa Bay area saw 42 homes sold for $5 million…

Report: Tampa Bay housing market shows signs of cooling off

Home sellers are feeling the pressure of a red hot housing market cooling off, according to a new report by Realtor.com. The report shows that the housing market in August saw the first year-over-year increase in time on the market (+5 days) since June 2020. Houses in the Tampa Bay metro area spent an average of 37 days on the market, a three-day increase from last year. Data shows a housing market that is getting a break from the past two-plus years of frenzied buyer demand that outmatched supply,…

St. Pete zooms in on missing middle housing

Leading housing and finance experts gathered last week in downtown St. Petersburg to discuss local opportunities and barriers for missing middle housing, aka gentle density housing like accessory dwelling units, duplexes and triplexes. The city of St. Petersburg is already taking steps to address the issue. In 2019, city council approved the creation of a neighborhood traditional mixed residential zoning category, which allowed for the development of missing middle housing in certain neighborhoods…