According to the Florida Realtors Association, the Tampa/St. Petersburg/Clearwater area saw a 20 percent decline in active listings in January 2020 over the previous year. Homes priced under $200,000 are especially in short supply.
The supply shortage is found at every price tier throughout the U.S., notes the Association, but “it’s especially pronounced at the entry-level.”
At Americana Cove, any home under $100,000 that has been updated is never on the market long, explains Broker Marty Pozgay. “Prices were stable during most of 2019, but have increased in 2020.”
The challenge we see is that homeowners who are selling homes themselves are pricing their homes too low, because they don’t know the market, which in turn, hurts all other residents who are trying to sell their homes as it decreases the value of all homes. “We have seen cases where residents are leaving as much as $20,000 to $25,000 on the table because they priced their homes too low,” said Pozgay.
