Tampa housing market heats up, with million-dollar homes re-listed for nearly double
Within an hour of purchase a $3.8 million home was re-listed for double the price
Florida's Tampa Bay area is predicted to be the hottest housing market in the coming year.
That's according to the home-buying website Zillow.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
An example: A home along Tampa's iconic Bayshore Boulevard was recently purchased, site unseen, for $3.8 million and within an hour of the ink drying on the paperwork, it was re-listed for more than double the price, according to FOX 13 of Tampa.
South Florida resident Matt Barnes made that move.
"As soon as we closed the deal, we decided we're going to list the property at $9.5 million, which is I think a conservative number," said Barnes. "I definitely see this purchase starting a trend to where Tampa’s market is going in the future."
MORTGAGE REFINANCING WINDOW IS CLOSING
One thing that has come out of the coronavirus pandemic is people looking for a change of scenery.
"You have so many people working remote now, the people from New York, California, the people that it's snowing on, they have to pay high taxes. Those people want to come to Florida because they can work from wherever they please," said Barnes.
CLICK HERE TO READ MORE ON FOX BUSINESS
That influx of money could juice an already growing market.