2 Pinellas Cities Rank Top Spots For Fastest-Growing Home Prices
Yup, you read that right. Even though we thought everyone was moving to the Tampa area, a recent report tells us that the fastest-growing cities are actually in Pinellas. There’s lots to love about Pinellas, the fact that it’s home to some of the country’s best beaches, some of the best school districts, and a great place to raise a family. This might be why 2 Pinellas cities rank in the top spots for fastest-growing home prices.
Stacker recently compiled a list of cities with the fastest-growing home prices in 2023 in the Tampa Bay area. They got their info from home prices on Zillow and ranked by their one-year change in price as of October 2023. Stacker also tells us that the typical home value in the United States was $347,972 in October, 2.3% higher than the year before. Interest rates have also stayed in that 7-8% range, making it a very competitive market. Before mortgage rates started spiking, homebuyers were able to lock in rates that are far more affordable than what’s suddenly on offer in today’s environment. It also doesn’t help that sellers aren’t exactly coming down on price. In a lot of metro areas, home prices are still increasing. This brings us to the Tampa Bay area cities with the fastest-growing home prices.
Other Pinellas cities to make this list are Harbor Bluffs, which is by Indian Rocks Beach, and Palm Harbor. Stacker has a list of 30 cities in the Tampa Bay area with the fastest-growing home prices, click here to view the full list.
So which Pinellas cities came out on top?
Coming in at #2 on Stacker’s list is Dunedin. No wonder why home prices are skyrocketing in Dunedin. There’s so much to see and do there, not to mention you are pretty centrally located in the Tampa Bay area. The typical home value is $445,514 (#21 most expensive city in Tampa metro) and they saw a 3.1% increase in price in just 1 year. That percentage jumps to 78% if you compare prices from five years ago.
The number 1 city for fastest-growing home prices is Safety Harbor. Much like Dunedin, Safety Harbor is centrally located in other popular spots in the Tampa Bay area like St. Pete, Tampa, Clearwater, etc. This would make it an ideal spot for someone who is trying to raise a family but may have to commute to their job. The typical home value in Safety Harbor is $519,382 (#16 most expensive city in the Tampa metro).