According to RealtyTrac, the country’s premiere tracking source for housing statistics, 2015 was a landmark year for Florida’s real estate investing market.
A whopping 8 percent of all Florida properties were flips, which ranks Florida as the second-most active house-flipping state in the country (beaten narrowly only by Nevada). The numbers also reveal that, out of all of the housing markets in the nation, the Tampa Bay area is one of the best places to flip a home.
By March 2015, Tampa Bay flips were yielding an average of 57 percent gross profit and ranked sixth in the nation for returns.
In fact, the entire South Florida market sold over $400 million in real estate during this time, making March the second strongest quarter in 89 years. By the second quarter, house-flips accounted for 7.4 percent of all real estate sales, and in the third quarter, this number rose to 9.1 percent (officially making Tampa one of the top 20 busiest house-flipping ZIP codes in the country).
When it comes to 2015 foreclosure rates, Florida had the second highest in the nation, led only by New Jersey. At one point, Tampa Bay ranked as the second highest city for foreclosure rates in the entire state. As of December, one out of every 476 houses in the Tampa area were going through a foreclosure process.
Bank repossessions were up a total of 23 percent throughout Florida.
As the numbers show, 2015 was a great year to be a real estate investor in Tampa Bay. The foreclosure rates were high, the properties were cheap, and the returns were record-breaking.
Are You Looking for a Property in Tampa Bay?
Whether you’re looking for homes to flip in Brandon or you’d like to find something in Land O’Lakes, we can help.
Check out our:
- Hillsborough County real estate listings
- Pasco County real estate listings
- Pinellas County real estate listings
When you’re ready, call us at 813-961-6000 or 727-584-8480. You can also contact us online if it’s easier. We’ll start searching for your next home to flip in Tampa Bay right away.
1660 GULF BOULEVARD PH-2 CLEARWATER BEACH, Florida
4 Beds 4 Baths 3,532 SqFt