Welcome to this month’s Tampa, Florida real estate market report. Tampa is one of the country’s most sought-after housing destinations. Sales volume surged during 2021 and home prices climbed steadily throughout the year. Inventory levels remain well below historic averages. Read this helpful report to get caught up on the latest market data.
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Tampa Bay Housing Stats
The average sale price for single-family homes of all types in Tampa, Florida, at the end of December 2021 was $409,825, a year-to-year increase of 21.11%. The median sale price for single-family homes of all types for the year was $332,000, up 23.9% compared to the $267,900 sale price average for 2020.
The average sale price for attached single-family housing in Tampa at the end of last month was $334,965, up 23.96% year to year.
The average sale price for detached single-family housing at the end of December was $429,311, an increase of 20.76% from one year ago.
There was a total of 17,411 detached and attached single-family homes sold in Tampa last month, which is 2.17% less than the previous December. There were 3,537 attached units sold, up 2.76% from 3,442 sold the previous December, and there were 13,817 detached units sold, a 3.35% drop from year to year.
There were 2,036 two-bedroom or less single-family homes sold in Tampa during December for an average sale price of $283,039, which is up 16.44% from the previous year.
There were 2,101 two-bedroom or fewer condos sold last month for an average sale price of $278,117, up 25% from $222,471 one year ago.
A total of 6,206 single-family three-bedroom homes were sold in Tampa last month for an average sale price of $389,686, which is up 25.6% from $319,249 at this time last year.
There were 1,233 condos sold during December for an average sale price of $401,799, which is a year-to-year increase of 22.09% from $329,103.
There were 4,795 four-bedroom or more single-family homes sold last month for an average sale price of $587,468, four-bedroom or more home sale prices increase 21.88% year to year from $482,011.
There were only 203 four-bedroom or more condos sold in December, selling for an average sale price of $517,104, which is up 12.43% from $459,949 at this time one year ago.
New listings for Tampa in December were down 2.94% from 13,497 to 13,100.
Total sold volume for December 2021 was $7,135,058,341, up 18.48% from one year ago.
Homes in Tampa were on the market for an average of 22 days before being sold, and sellers were getting 98.8% of their original list price at closing.
What Does This Mean For Buyers?
Buyers who are in the market for a home in Tampa, Florida should be assertive and be ready to act when a property is found. Time is not on the buyer side in the Tampa market and home prices are well above last year’s averages and keep climbing each month. Buyers should have financing in place and not allow themselves to get priced out of the market.
Inventory of single-family homes available to buyers is at some of their lowest historic levels. This will create more competition for homes and buyers may have to submit offers above the asking price. Buyers looking for condo properties still face inventory shortages but not as much competition. If you are in the market for a home in Tampa, Florida, give us a call today. We have the expertise and knowledge that will work for you to find you the best home possible. Let’s find a home today!
What Does This Mean For Sellers?
Florida is one of the most sought-after destinations to live in the USA currently. As buyers relocate to the Sunshine State homes and condos will be in high demand. If you have been thinking of selling or have seen your property values rise and might want to cash in your investment, then now is a good time to get your home listed and on the market. With low interest rates, high taxes, and restrictions on state locales, buyers will continue to flock to Florida. These trends can be expected to continue through this year.
If you have been thinking of selling but not sure what to price it for or how to get it on the market, give us a call. We have experienced Florida realtors who understand how to price homes in dynamic markets such as Tampa, Florida. We price your home accurately, market the most in-demand features, and show it to the most qualified of buyers so your home sells quickly. Don’t hesitate let’s get started today!