Hillsborough County Reports 28% Of December Sales Are Cash Purchases

Foreclosure sales continue to bring down home prices in Hillsborough County. The Greater Tampa Association of Realtors reported an average home sales price in December of $186,297, 30 percent below the $267,117 the average home commanded in December 2007. Sales did improve, however. Last month Realtors reported 1,207 closings, a 10 percent increase from the 1,099 homes that sold in December 2007. GTAR said 336 of those December sales — 28 percent — were "all cash" deals. That suggests a large presence of investors plunking down dollars for foreclosure bargains. GTAR tracks sales in Hillsborough and part of Pasco County.

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