Overview: Clearwater Florida Real Estate Investment

Clearwater real estate is booming. The Tampa Bay area - Clearwater/St. Petersburg/Tampa - is among the top 10 expanding real estate markets in the United States.

Real estate values are rising. The median sales price in the area rose 29 percent in the third quarter of 2005. Incredibly, it is still lower-priced than the majority of Florida coast property, so there is time to take advantage of investment opportunities.

Clearwater offers an ideal solution for anyone seeking residential real estate for a permamanent or vacation home. And it also offers excellent commercial real estate opportunities.

High Point Real Estate Corporation is a leader in Clearwater real estate with nearly two decades of specialized local experience in both residential and commercial markets.

Indicators Reflect Unprecendented Growth

Current economic indicators for the Tampa Bay area include the following which reflect the growing population here:   

• The unemployment rate for the Tampa Bay MSA in February 2006 was 3.2%. The rate for the state of Florida was also 3.2%. The Florida rate of 3.0% in January, 2006 was a phenomenal 30 year low. The national rate for February 2006 was 4.8%. The January rate of 4.7% was the lowest since July 2001. Florida’s unemployment rate has been below the national average since mid-2002.   
• Florida continues to lead all states in the nation in the number of new jobs created and the fastest job growth rate.   
• Tampa ranked #2 in the nation for least expensive cities to do business. The ranking was done by KPMG in March, 2006 and measured 25 various business components. Strongest assets for the Tampa area were competitive labor costs, low office leasing costs and zero state income tax.   
• The most recent population numbers released in March, 2006 by the U.S. Census Bureau rank Hillsborough County #15 in the nation for counties with the largest population increase. 15 Florida counties were represented in the top 100 list. On a state level, approximately 1,000 people per day move to the state of Florida.   
• Strong population and job growth has continued the trend of rising home prices. Median home sales prices in the Tampa area rose 27 percent comparing February 2005 to February 2006. The Statewide median home price rose 21 percent during the same time frame. However, the volume of home sales is experiencing a slow down in the Tampa area much like the state. Despite the statewide slow-down, the Tampa Bay area was still the busiest market in the state. While many factors are contributing to this, some are viewing it as a time of adjustment when the market is coming into better balance between buyers and sellers – and less speculators.   
• Moody’s Investor Service showed Tampa tied for number 6 in the top 10 best performing markets in the US regarding supply and demand of commercial real estate.

Source: Colliers FLEX Report