Report: Tampa Bay housing market shows signs of cooling down

Last month may go down as a turning point in the red hot housing market since the coronavirus pandemic's start. A new report from real estate listings website Realtor.com found that the number of new listings to hit the market last month rose for the first time since June 2019 nationwide. As a result, May home shoppers had 8% more active listings to scroll through than they did last year. In Tampa Bay, new listings increased by 11.2% year-over-year with a median price of $437,000, a 30% increase…Original Article

Townhouses proposed near upcoming condo development in Clearwater

The targeted site is on a small inlet near Edgewater Drive Park in Clearwater.Original Article

Exclusive: Waterfront South Tampa mansion sells for $9.89 million (Photos)

A waterfront South Tampa home that was built speculatively two years ago has sold again — at a 53 percent increase over its 2020 sales price. The home at 38 Sandpiper Road in Beach Park sold for $9.89 million to an undisclosed buyer in an off-market transaction. A deed for the sale has not yet been filed. Jennifer Zales of Coldwell Banker Residential Real Estate represented the buyer; Greg Margliano of Compass represented the seller. Zales represented builder Tulia Homes by Legion Construction…Original Article

St. Pete construction update: High-impact residential projects roll on

Several residential projects throughout the city are currently under construction as developers attempt to help meet the growing demand for apartments and condos in St. Pete.Original Article

What homebuyers need to know about escalation clauses

People who have signed contracts with homebuilders recently may be surprised to see an unexpected line item in their contracts: escalation clauses. While the wording and terms of escalation clauses can vary per contract, their purpose is the same. They require the homebuyer to cover an agreed-upon portion of material and labor costs that increase from the time the contract is signed to the time the build is complete. For example, let’s imagine a homebuyer signs a builder contract for a $1 million…Original Article

Westshore Marina developer launches presales of second condo tower

The condos will be priced from the high $700,000s.Original Article

Report: Homebuilding in Tampa Bay slows down as housing market cools off

Sun Belt metros continue to be one of the hottest places for homebuilders throughout the nation, according to a new report that highlights which areas need it the most as inventory continues to dwindle. Seattle-based Redfin Corp. (NASDAQ: RDFN) recently found that 49 of 53 U.S. metropolitan areas with more than 1 million residents issued more single-family building permits per capita in the first quarter than they did on average in the 10 years before the pandemic. While homebuyer demand has started…Original Article

‘A very good day’: Construction starts on downtown Tampa’s 31-story AER tower

Tampa Mayor Jane Castor addressed the city's red-hot real estate market and affordability crisis before turning the microphone over to former Mayor Bob Buckhorn, who started working on the tower halfway through his first term in office.Original Article

Florida lawmakers sign off on condo safety requirements

Florida lawmakers gave final approval Wednesday to a plan to bolster the safety of condominium buildings, after the devastating collapse last year of the Champlain Towers South building in Surfside.Original Article

31-story AER apartment tower in downtown Tampa, nearly a decade in the works, will finally break ground

An apartment tower first proposed in downtown Tampa in 2013 will finally celebrate its groundbreaking Thursday. Coastal Construction, the general contractor on the project, said Wednesday it will hold a ceremony to commemorate the beginning of construction for Arts and Entertainment Residences. The developer is a partnership of Miami-based American Land Ventures and the North American affiliate of Tel Aviv-based Gazit Globe Ltd. Jeff Mooallem, president and CEO of Gazit Horizons Inc., first confirmed…Original Article