We all have seen the uptick in new people coming into the Tampa Bay area.  It used to be seasonal where many Northerners and Canadians came to visit us during the cold months.  Now that we continue to work our way through a Pandemic and workplace changes, more and more people are looking to settle in our beautiful State.

With all that influx, the Real Estate market has become very competitive.  Buyers bidding over asking price and properties flying off the market in just a short number of days.  As with many areas around the country, we contemplate the next shift.

To that end, keeping an eye on the market is critical and following the trends extremely important.  Florida Realtors provides Realtors® access to the market data to help us follow those trends.  Our goal is to help educate Buyers and Sellers to garner the most for their home values.

The statistics being shared in this post are from the last 6 months (February 2021 – July 2021) in 3 counties.  These counties are Hillsborough, Pinellas, and Pasco.  Hillsborough is the Tampa Bay area; Pinellas is the Clearwater/St. Petersburg area; Pasco is the Brooksville/Port Richey area.

The first set of 4 graphs highlight the Active Inventory and Closed or Sold Properties (Single Family Homes and Townhomes/Condos) not including Foreclosures or Short Sales.  The uptrend of properties on the market continues in all 3 Counties.  The last set of graphs depicts the Average Sales Price of those sold properties.  Here there is some price leveling out in Hillsborough and Pasco but a continued uptrend in Pinellas.

Our hope is that this helps you in understanding current market trends.  We are always available and ready to help you find your new home or sell your existing home in our beautiful area.

NUMBER OF PROPERTIES ON THE MARKET:

NUMBER OF PROPERTIES SOLD:

AVERAGE SALES PRICE FOR PROPERTIES SOLD:

The Real Estate Market is fast paced here in the Tampa Bay area.  With more and more people looking to take advantage of the benefits of living in our State, investment in property has skyrocketed.  Whether you already live here in the Tampa Bay area or are looking to move into the area, having the right plan will make the end result so much more achievable and beneficial.

Inventory of available single-family homes and townhomes has decreased in some counties by as much as 69%!   The average sales price has increased by more than 20%.

When Buying in this market, you need to be prepared for bidding in a multiple offer situation.  For you Sellers, be prepared for multiple offers!  In either case, we suggest having an advocate to help you build the most successful plan.

We are ready when you are!  Looking forward to assisting you build and execute the best plan for your needs.

Back in August 2020 we looked at the Tampa Bay area Residential Real Estate Market.  After a Pandemic and the path to recovery, we thought we should do another snapshot.

Average property prices have increased by more than 20% over last year. The number of resale properties sold in Pasco and Pinellas counties has increased by more than 30% and the overall inventory of properties to purchase has decreased by more than 60%!

The dynamics are changing even more rapidly so having a knowledgeable advocate on your side for either Buying or Selling is a must. Let us help you.

Have you noticed that the central west gulf coast of Florida is a highly desirable area? Average property prices have increased by more than 10% in the last six months. The number of resale properties sold has increased by more than 25% across 4 major areas and the overall inventory of properties to purchase has decreased by more than 25%. The dynamics are rapidly changing so having a knowledgeable advocate on your side for either Buying or Selling is a must. Let us help you.

August 2020 Insights

Whether buying in a new community or having a custom home built, knowing the questions to ask is part of the buying process. Having an advocate in your buying journey gives you additional piece of mind.

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