Welcome to this month’s Tampa Bay, Florida estate market report. Tampa is one of the hottest real estate markets in the country right now. Get caught up on the latest stats for July to see if demand is continuing for this highly sought-after destination.
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Tampa Bay Housing Stats
The average sale price for all types of single-family homes in Tampa, Florida, at the end of July 2021 was $383,464, a 21.23% increase from the previous July average.
There were 3,396 attached single-family home units sold during July 2021, a year-to-year increase of 3.2%. The average sale price for attached housing in Tampa at the end of July was $298,093, up 16.77% from $255,289 one year ago.
A total of 13,639 single-family detached homes sold in Tampa, Florida, last month, a year-to-year decrease of 5.32%. The average sale price for detached housing during this same time was $405,492, a year-to-year increase of 22.57% from $330,816.
Two-bedroom or less detached homes sold for an average of $260,753, up from $219,189 at this time one year ago. Two-bedroom or fewer condos sold for an average of $242,261 during July, up from the $209,015 average sale price the previous July.
During July three-bedroom single-family homes in Tampa sold for an average price of $354,877, a year-to-year increase of 23.09% from $288,308. Three-bedroom condos’ average sale price during this time was $377,180, up 17.38% compared to this time last year.
Four-bedroom or more single-family homes in Tampa, Florida sold for an average price of $559,228, a year-to-year increase of 25% from $445,860. Four-bedroom or more condos sold for an average price of $449,975, up only 6.85% from the average of $421,138 at this time one year ago.
There were 17,119 properties sold last month for a total sales volume of $6,564,520,821, this is a year-to-year increase in sales volume by 16.97%.
A total of 18,994 new listings hit the market in July, for an average list price of $384,094. New listings are up 2.4% month to month, and up 6.4% from year to year.
At the end of July there were 14,448 active listings in the Tampa, Florida, real estate market, while this increased month to month from 12,108 at the end of June, total active listings are down year to year from 29,637 at the end of the previous July.
Homes are on the market for an average of 19 days before being sold, this average has dropped from 21 days in June, and from 56 days on the market before being sold during July 2020.
The average list price to sale price ratio for sellers ended the month of July at 100.0%, holding steady from June, but increasing year to year from 96.2%.
What Does This Mean For Buyers?
If you are looking to buy a home or condo in Tampa, Florida, expect a very fast-moving and competitive market. Homes are not on the market for very long before being sold. There were 10,417 properties that sold in ten days or less during the month of July.
Buyers need to make sure to have financing in place and be prepared to act when a property is found. Buyers cannot afford to waste time being indecisive with these current market conditions.
Buyers need to have a great agent on their side who understands the dynamics of the Tampa real estate market. Let us put our experience and wisdom to work for you today and find you the perfect home for you!
Give us a call today at (813) 489-9798 and we’ll help you find the perfect home.
What Does This Mean For Sellers?
Sellers can expect strong demand as Tampa, Florida becomes a sought-after destination. As buyers continue to flock to the state, homeowners can expect to see their property values go up and sellers who might have been hesitant should go ahead and get their property listed. As low-interest rates continue giving buyers the incentive to buy, expect current trends to continue.
Selling a home involves pricing your home accurately and competitively, showing off the best features of your property, and marketing it to the most qualified of buyers. We have helped so many sellers sell their homes quickly with minimal hassles. Find how we do it and give us a call today (813) 489-9798.