Tampa named a top home buyers' market by Zillow - WNCN: News, Weather

Tampa named a top home buyers' market by Zillow

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TAMPA, FL (WFLA) - On Wednesday, Zillow announced Tampa is a ranked one of the best home buyers' markets in the country.

The Tampa metro area was ranked third on the list of top buyers' markets.

Within the metro at the city level, Temple Terrace and Odessa came out on top of the list of top buyers' markets, while Westchase and Brandon were atop the top sellers' markets ranking.

According to the Zillow report, home values rose 15.3 percent year-over-year in February in the Tampa area, higher than the national increase of 5.6 percent over the same period.

Tampa metro home values are expected to rise 6.8 percent over the next 12 months, according to the Zillow Home Value Forecast.

In the Tampa Metro Area:

Top 5 Sellers' Markets
Top 5 Buyers' Markets
1. Westchase
1. Temple Terrace
2. Brandon
2. Odessa
3. Riverview
3. Hudson
4. Wesley Chapel
4. Port Richey
5. Safety Harbor
5. Holiday

Zillow says top buyers' markets tend to have lots of inventory, steep price cuts and homes that linger on the market. Top sellers' markets tend to have low inventory, homes that are selling for more than the asking price and a quick turnover.

The data was analyzed on sale-to-list price ratio, number of days listings spent on Zillow and percent of homes on the market with a price cut, and ranked the cities within the metro relative to one another.

Copyright 2014 WFLA. All rights reserved.

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