Welcome to this month’s real estate market report for the metropolitan area of Tampa, Florida. The Tampa area has experienced a surge in demand for homes and condos, inventory levels are well below the five-year average which has caused prices to surge. Homes are selling in less than ten days after listing creating a very competitive market. Find out just how much homes and condos are selling for in Tampa and get up to date with this helpful report.
Are you trying to find a home or condo to buy in Tampa, Florida? Start your search here to find properties by price, size, location, and more. Be sure to save your favorites you want to tour, then, sign up to be notified as soon as new listings that meet your needs become available so you don’t miss out! Get started today!
Ready to sell your home or condo but just not sure for what price? Find out what your home may be worth by using our free home valuation tool. Simply enter some basic information about your property and we will provide you a market summary with a suggested list price for your home.
Give Liz Welch a call at (813) 489-9798 and we will help get you started!
Tampa Bay Housing Stats
The average sale price for single-family homes of all types in Tampa, Florida at the end of April 2022 was $446,924, which is a year-to-year increase from the previous April of 18.68% from $376,571.
The average sale price for single-family attached homes in Tampa during April was $363,313, which is a year-to-year increase of 10.41% from $327,259.
The average sale price for single-family attached two-bedroom or fewer homes at the end of April was $302,304, which is a 21.46% increase in price from one year ago.
The average sale price for the three-bedroom attached single-family homes in Tampa at the end of last month was $452,407, which is a year-to-year increase of 10.68%.
The average sale price of four-bedroom or more single-family attached homes in Tampa at the end of April 2022 was $568,412, which is actually a year-to-year decrease of 21.28%.
There were 3,620 attached single-family homes sold last month, this is a year-to-year drop of 20.75% from 4,568.
The average sale price for a single-family detached home in Tampa last month was $471,063, which is a year-to-year increase of 19.99%.
The average sale price for single-family two-bedroom detached homes in Tampa during April 2022 was $322,057, which is a year-to-year increase of 33.81%.
The average sale price of single-family three-bedroom homes in Tampa at the end of last month was $427,580, which is a year-to-year increase of 24.3%.
The average sale price for four-bedroom or more single-family detached homes at the end of April was $660,524, which is a year to year increase of 16.9%
There was a total of 13,295 detached units sold during April, this is a decrease of 10.77% in the number of detached units sold compared to the previous April.
There were 16,792 properties of all types sold during the month of April, this is a year-to-year drop in sales activity of 13.15% from 19,542 sales in April 2021.
There were 18,888 new listings to hit the market in Tampa during April, this is a month-to-month increase of 1.3% and a year-to-year increase of 2.8%, this helps inventory a little.
There were 20,004 properties that went under contract last month, this is a month-to-month drop in pending activity of 8.1% and a year-to-year drop of 8.3%.
There are 12,541 active listings available to buyers in the Tampa area, inventory increased from 9,551 at the end of March 2022, and up from 11,446 at the end of April 2021.
Homes of all types are on the market for an average of 16 days before being sold, there were 12,101 properties sold within ten days or less during April.
Sellers are getting 101.2% of their asking price for their home at closing, this is up from 100.6% in March 2022, and up from 98.7% at the end of April 2021.
What Does This Mean For Buyers?
Buyers searching for a home or condo to buy in Tampa should be prepared for competition to buy properties, overbidding is becoming more common. Buyers should also realize time is not on their side in two ways: interest rates are climbing which can increase the cost of your mortgage and with inventory levels so low properties are bought almost as soon as they are listed. Buyers should have financing in place and be ready to act when a property is found. Buyers may have to eliminate some must-have items in some cases to be able to acquire a property within their budget.
Buyers should work closely with their real estate agent so as to not miss out on new properties and to negotiate on behalf of the buyer. To find out how we help buyers accomplish their goals, give us a call today!
What Does This Mean For Sellers?
If you are have been thinking of putting your home on the market to sell, now is the time to act. As home values increase and demand for homes in Tampa continues sellers can take advantage of favorable market conditions. Sellers should be aware that almost half of all homes sold last month sold for cash. While interest rates steadily rising may cool off the market, in the near term, sellers can expect strong demand for homes and condos in Tampa to continue.
There is more to selling your home than just putting a sign in the yard. We work to actively market your property and show it to the most qualified of buyers. To find out how we sell homes quickly and to net you the most money, give us a call today!
For all your real estate buying and selling needs in Tampa, Florida, give us a call today, and let us put our experience and knowledge to work for you!
Tampa Bay Homes for Sale
Here are the most recent single-home listings just added to the database in the average sale price range for Tampa Bay. All homes here are priced at $446,924 or less.