Welcome to this month’s Tampa, Florida real estate market report for the month of August 2021. Find out how single-family detached and attached housing, and condos have been selling over the last month with this helpful report.
Are you looking to buy a home in the Tampa, Florida, are and are frustrated by the lack of good results? We can help with that! Start finding homes here with our easy-to-use search tool to find properties by price, size, location, and more! Be sure to save your favorite properties to tour, then, sign up to be notified as soon as new listings that match your needs become available! Then give us a call and we can answer all your questions about what to expect when buying a home here in the great city of Tampa, Florida!
Do you need to upgrade or downsize and are ready to sell your property but just not sure for what price? Find out what your property may be worth with our free home valuation tool. Enter some basic information about your home or condo and we will provide you a competitive market assessment of your home. Then, lastly, we can show you how we will list, market, and sell your home in the dynamic Tampa real estate market.
Tampa Bay Housing Stats
The average sale price for all single-family homes in Tampa, Florida, at the end of August 2021 was $381,790, up 18.56% from $322,015 one year ago.
The average sale price for attached single-family homes during August was $293,416, an increase of 11.82% from $262,409 at the end of the previous August.
There were 3,357 attached single-family homes sold last month, an increase of 2.69% from 3,269 from one year ago.
The average sale price for detached single-family homes at the end of August was $404,779, a year-to-year increase of 20.21% from $336,734.
There were 13,278 detached single-family units sold during the month of August, a drop of 2.7% from 13,647 sold during the previous August.
There were 16,702 properties sold in Tampa during August, a month-to-month drop of 1.2%, sold activity compared to the previous August was down 1.5%.
A total of 20,692 single-family homes went under contract last month, an increase in month-to-month activity of 6.1%.
There are 18,061 new property listings to hit the market in the greater Tampa area during August, this is a month-to-month drop in new listings of 4.9%, yet 1.7% higher than at the end of the previous August.
Single-family homes of all types were on the market for an average of 18 days before being sold during the month of August, a drop of one day from 19 days during July.
The list price to sale price ratio for sellers of all housing types were getting on average 99.7% of their asking price for their home at closing. The list-to-sale price ratio increased 3.3% year to year from 96.5%.
What Does This Mean For Buyers?
If you are looking for a home or condo in Tampa, Florida, be prepared for lots of competition for homes. Buyers need to make their offer stand out among other bids. While inventory levels are rising slightly year to year, buyers should have financing in place and be ready to act as soon as a property is found.
Buyers must realize time is not on their size, with prices trending upward, some buyers may have to increase their budget or adjust their needs list to find properties in their price range.
Give us a call today at (813) 489-9798 and we’ll help you find the perfect home.
What Does This Mean For Sellers?
Tampa, Florida, is currently in a seller’s market, homes are selling quickly, of 16,702 sales closed in August, 11,255 properties were on the market for less than ten days before being under contract. As buyers relocate from out of state and interest rates remain attractive, sellers of attached, detached, and condo properties can expect these trends to continue.
Attached and detached home prices have climbed as much as 20% for two and three-bedroom properties. Prices for two and three-bedroom condos have also climbed as much as 15% from one year ago.
If you are thinking of selling your home or condo and are not sure how to get started, give us a call! We can show you how we price your home competitively, market your home to the most qualified buyers, and close on the property quickly. Find how we do it and give us a call today (813) 489-9798.