Commercial Development News - Appraisal Development International

Hernando hardest hit on home prices in Tampa Bay area
By James Thorner
St. Petersburg Times
Published: Feb 5, 2010

Depreciation blackened almost all Tampa Bay real estate in 2009, but Hernando County crept into the deepest shadows. According to Zillow.com, Hernando's housing values plummeted 18.8 percent through November 30, well above Tampa Bay's average decline of 13.1 percent. Hillsborough County, too, came off worse than average. Its housing depreciation was 14.7 percent. Pinellas County, where home values shed 10.7 percent, emerged the best. Pasco County's depreciation was 11.2 percent. Zillow's estimates seem to confirm that housing was hardest hit on the suburban fringe. Brooksville, for example, suffered the most with a 30 percent annual home price plunge. Some housing analysts quibble with Zillow's calculations, but few question its relative ranking of counties. Heading into December, the average home value in Tampa Bay stood at $125,900.