Welcome to this month’s Tampa, Florida real estate market report. Are you thinking of buying or selling a home in the Tampa, Florida area and are curious as to how the market is performing? What is the average home sale price? Are sellers getting the full asking price for their homes? Find out the answers to these questions with this helpful report.
Are you looking for the perfect property to buy in Tampa? Start your search here with our handy search tool to find homes by price, size, location, and more. Once you have saved your favorite properties to tour, sign up to be notified as soon as new matching properties become available so you don’t miss out!
Have you been thinking of selling your home but not sure for what price? Find out what your home may be worth by using our free home valuation tool. Our home valuation tool will ask you a few questions about your property, and then, we will provide you a market report with a suggested list price for your home.
Tampa Bay Housing Stats
The average sale price for single-family homes of all types in the Tampa, Florida area at the end of January 2022 was $404,801, which is a year-to-year increase of 21.04%.
The average sale price of single-family detached homes in Tampa at the end of January was $424,919, an increase of 22.88% from $345,801 at the end of the previous January.
The average sale price of single-family attached homes in Tampa at the end of January was $337,036, an increase of 14.36 from $294,716 one year ago.
The average sale price of two-bedroom or less single-family homes in the Tampa area at the end of January was $295,810, an increase of 27.94% from $231,202 one year ago.
Three bedroom single-family home average sale price at the end of January was $383,629, which is a year-to-year increase of 25.33% from $306,084.
The average sale price of three-bedroom condo properties in Tampa at the end of January was $424,882, an increase of 8.49% from $391,617 at this time one year ago.
The average sale price for four-bedroom or more single-family homes at the end of January was $586,423, which is a year-to-year increase of 23.45% from $474,886.
Four-bedroom or more condos in Tampa had an average sale price at the end of January of $617,439, which is a 40.29% year-to-year increase from $440,126.
There was a total of 13,294 properties sold during the month of January, which is a year-to-year increase in sales activity of 0.49%.
There were 15,965 new listings to hit the market in January, which is a year-to-year decrease in the listing activity of 2.76%.
A total of 18,891 properties went under contract in January, this is a year-to-year decrease in contract activity of 7.45%.
Homes were on the market for an average of 22 days in January before being sold, this is a year-to-year decrease of 47.62%.
Sellers were getting 98.9% of their list price at closing, an increase of 2.03% from one year ago.
What Does This Mean For Buyers?
Buyers looking for a home in the Tampa, Florida area can expect a competitive market with fewer homes available and prices higher than the previous year. While inventory levels have climbed month to month, inventory is still well below its historic average.
Buyers should understand time is not on their side and that financing should be locked in to place to get ahead of interest rates. Buyers should work closely with their realtor to learn of new listings or reductions in home prices. While most markets are seeing climbing prices, some markets are softening offering some price relief to buyers.
If you are searching for a home or condo to buy in Tampa, give us a call. We are experts at finding the perfect property for our clients. We work with you every step of the way from making your offer stand out to closing smoothly on your new home. Don’t hesitate, to give us a call today!
What Does This Mean For Sellers?
The Tampa, Florida real estate market is continuing to favor sellers. As buyers relocating from out of state, demand is climbing along with prices. Owners of homes and condos may want to assess the current opportunities and get their homes listed and on the market. While there is the threat of higher interest rates, it may not slow the Tampa market as the Tampa area and Florida is a preferred destinations for many buyers.
If you are thinking of selling your property give us a call. We will work with you to make sure your home is priced competitively. We market the best features of your property to the most qualified of buyers, and our goals is to sell your home quickly and net you the most money. To get started give us a call today!