Entries by DomresRealEstate

Wife of Champs Sports founder sells riverfront Bradenton estate for $8.55M

A riverfront Bradenton estate has sold for $8.55 million, setting a record as the highest-ever sale of a single-family residence on the mainland of Manatee County, according to Michael Saunders & Co. The 5.16-acre gated estate, located at 7000 Riverview Blvd., has Frank Lloyd Wright-inspired architecture and sits on the Manatee River. Michael and Laurel James of Michael Saunders & Co. represented the buyers, and the property is “one of the largest waterfront properties in the county,” according…

Report: As the Tampa Bay housing market rebalances, competition is shifting toward lower-priced homes

As homebuying demand cools from the record pace of 2021, competition is shifting toward lower-priced homes, a new report finds. The latest report by Zillow (Nasdaq: ZG) shows competition is now strongest for the least expensive homes — a reversal from much of the pandemic. During the pandemic, homebuyers saw most of their competition from others looking to purchase middle- and top-tier residences. The annual deficit in for-sale inventory dipped the most in the top two price tiers in 2020 and…

Here are Tampa Bay’s million-dollar ZIP codes

The number of ZIP codes in the Tampa Bay area with typical home values over $1 million doubled from five in June 2021 to 10 in June 2022, according to the Zillow Home Value Index. Prior to 2021, there was only one, 34216 in Anna Maria, above that level, and none as recently as 2015. Sarasota and Pinellas counties are home to three of the 10, while Hillsborough and Manatee account for two each. Every ZIP code in the region saw its home values more than double over the last 10 years, with an average…

Report: Tampa Bay homebuyer competition falls to lowest level since the start of the pandemic

Homebuyers have faced intense competition over the last few years in the red-hot housing market, but a new report shows those times may be waning. The report by Redfin, a technology-focused real estate brokerage, highlights that nationally, 44.3% of the home offers written by Redfin agents faced competition on a seasonally adjusted basis in July, compared with a revised rate of 50.9% one month earlier and 63.8% one year earlier. This is the sixth-straight monthly decline and the lowest share…