Welcome to this month’s Tampa, Florida real estate market report. Tampa is one of the most sought-after destinations in the country for home buyers. How have home prices performed over the last month compared to this time last year. Read this helpful report to find out.
Are you looking to buy a home in the sunshine state? Begin your search for homes here and find properties by price, size, location, and more! Make sure you save your favorite properties that you want to tour. Then, sign up to be notified as soon as new matching properties become available so you don’t miss out on the perfect home. Give us a call and we would be happy to answer all your questions about buying a home in Tampa, Florida!
As home prices have increased are you considering selling but not sure what to sell it for? Find out what your home may be worth by using our free home valuation tool. Simply enter some basic information about your home, then, we will provide you a competitive market summary of a suggested list price for your property.
Tampa Bay Housing Stats
The average sale price for single-family homes in Tampa, Florida, at the end of September 2021 was $380,750, a year-to-year increase of 17.12% from $325,102.
For the year so far, the average sold price for single-family homes of all types in Tampa is $293,000, which is up 17.2% when compared to this time last year.
There was a total of 16,228 properties of all types sold during September, a year-to-year drop of 3.25%.
There were 3,281 attached units sold last month, a drop of 1.5% from 3,331 one year ago. Attached units were sold for an average sale price of $296,972, up 10.75% from $269,956 at the end of the previous September.
There were 12,884 detached units sold during the month of September, a year to year drop of 3.77% from 13,389. Detached units sold for an average sale price of $402,259, which is a year-to-year increase of 18.57% from $339,264.
The average sale price for single-family attached housing in Tampa for September was $298,972, up 10.75% compared to one year ago.
The average sale price for single-family detached properties was $402,259, a year to year increase of 18.5%
There was a lot of buying activity in September as homes of all types were on the market for an average of 18 days before being sold, a 61.7% decrease from 47 days the previous September.
Properties sold quickly in September. There were 1,158 properties sold immediately, 9,155 listings were sold in less than 10 days, and 2,251 listings sold in less than 20 days.
At the end of September, there were 14,720 active listings for sale in Tampa, there were 16,825 new listings to hit the market, 18,006 properties went under contract, and 19,271 homes had offers accepted.
A total of 5,912 single-family homes were bought for cash, 7,713 used conventional financing, there were 1,547 properties financed with FHA, and 789 homes were bought using a VA loan.
At closing time sellers were getting 99.2% of their list price for their home at closing, an increase of 2.51% from 96.7% at this time last year.
What Does This Mean For Buyers?
If you are searching to buy a home in Tampa, Florida, expect quite a bit of competition for properties of all types. Inventory is very low in most price markets, and as buyers relocate from out of state to Florida, expect this trend to continue.
Fortunately for buyers prices are stabilizing and overbidding for properties is at a minimum. Buyers should however have financing in place and be prepared to act as soon as a property is found.
Give us a call today at (813) 489-9798 and we’ll help you find the perfect home.
What Does This Mean For Sellers?
The Tampa, Florida, real estate market favors sellers right now, and if you have seen property values rise, you may be thinking of selling. Low-interest rates are driving demand, and as this trend continues now would be a good time to get your property listed and on the market.