Hillsborough home sales soar as prices dive

Falling prices helped push up Hillsborough County home sales a robust 38 percent in February. Sales rose from 813 in February 2008 to 1,120 in February 2009, according to the Greater Tampa Association of Realtors. Prices fell almost exactly a third, from an average price of $240,077 a year ago $160,145 last month. Foreclosure properties — dumped by the bank or by their desperate owners — represented a large chunk of the traffic. All-cash transactions were one sign that investors were scooping up distressed properties. In February 2008, 21 percent of sales were all-cash deals. Last month, cash buyers accounted for 37 percent of sales.

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