In a RealtyTrac report released September of this year, Tampa had the 3rd highest flipping rate in Q2 of 2016. Tampa’s flipping rate was 10 percent.
In this report, Tampa is again ranked in a prestigious group of cities and metropolitan statistical areas where house flipping is excelling. The entire top 10 list includes:
- Memphis (11.1 percent)
- Visalia-Porterville, California (10.1 percent)
- Tampa (10.0 percent)
- York-Hanover, Pennsylvania (9.7 percent)
- Mobile, Alabama (9.6 percent)
- Fresno, California (9.5 percent)
- Lakeland-Winter Haven, Florida (9.5 percent)
- Deltona-Daytona Beach-Ormond Beach, Florida (9.4 percent)
- Clarksville, Tennessee (9.3 percent)
- Miami (8.6 percent)
The Florida Housing Market is Hot
Not many states have as wide an appeal as Florida. After the housing crash in 2007, the Florida housing market has been a model of recovery. Demand for property in Florida, which has always been a popular destination for real estate investing, continues to drive the housing market today.
Although demand is high and home values are rising, there is still value, especially in metro Tampa Bay.
Tampa Bay Home Values
In a recent study by Coldwell Banker, average home prices throughout Tampa Bay offer some of the best home values in the entire state of Florida.
Fourteen Tampa Bay cities were evaluated in the Coldwell Banker study of average prices for a 4/2 home:
- New Port Richey ($154,830)
- Spring Hill ($176,203)
- Ruskin ($195,410)
- Riverview ($208,503)
- Brandon ($216,010)
- Wesley Chapel ($229,510)
- Land O’ Lakes ($238,514)
- Clearwater ($246,869)
- Temple Terrace ($275,329)
- Lutz ($286,663)
- Tampa ($299,579)
- Bradenton ($303,702)
- Saint Petersburg ($307,225)
- Apollo Beach ($362,926)
Two Tampa Bay cities in the study were in the top 10 for lowest home prices, while also offering residents an outstanding quality of life.
- New Port Richey has the 4th lowest average home price for a 4/2 in Florida, yet is one of the best Florida cities for a coastal lifestyle.
- Spring Hill has the 9th lowest average home price for a 4/2, while offering a rural and suburban quality of life that is appealing to families and professionals.
Tampa Bay for Real Estate Investing
Tampa Bay continues to rank as one of the best cities for real estate investing. Not only are flipping rates in Tampa Bay some of the highest in the U.S., but gross profits are also high.
For example, in Q3 2015, RealtyTrac reported that Tampa’s zip code 33063 ranked #2 in the U.S. for ROI, with a 130.2% average gross flipping ROI.
As a result of numbers like these, Forbes ranked Tampa as one of the top 5 cities for house flipping, along with Memphis, Detroit, Ocala, and Miami in a 2015 article by Nav Athwal.
Graystone Investment Group
Graystone Investment Group is an experienced Investment Group, wholesaling single-family and multifamily investment properties in metro Tampa Bay.
Unlike other wholesaling groups, we find properties that we resell to investors at discount prices, while also connecting them with private financing. We also coordinate with rehab and management companies we’ve worked with for years, at no extra charge.
To learn more about profitable real estate investments in the Tampa Bay area, fill out our Investor Profile or contact us direct.