Is Tampa, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
Since last year, Tampa has remained a Seller's Market.
Key Takeaway
Tampa is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Tampa, FL
How much do homes in Tampa, FL cost?
Median Sold Price
$407,393
$263/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
+$2,697(+0.7%)
Key Takeaway
Homes in Tampa have sold for 0.7% more than they did a year ago.
Summary: The median home sold price in Tampa was $407,393 in November 2023, up 0.7% from last year, and the median price per square foot was $263.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $240.3K | $211.2K | -12.1% |
| 2 Bedrooms | $300K | $284.4K | -5.2% |
| 3 Bedrooms | $388.6K | $391.4K | + 0.7% |
| 4 Bedrooms | $594.7K | $577.5K | -2.9% |
| 5+ Bedrooms | $955.8K | $903.3K | -5.5% |
Summary: Tampa housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 12.1%, 2 bedroom homes decreased by 5.2%, 3 bedroom homes increased by 0.7%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes decreased by 5.5%.
Median Sold Price Compared To Nearby Cities
| CITY | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| Palm River-Gibsonton | $325.4K | $330K | + 1.4% |
| Tampa | $404.6K | $407.3K | + 0.7% |
| Lutz | $481.3K | $478.3K | -0.6% |
| Temple Terrace | $339.2K | $320K | -5.7% |
| Thonotosassa | $400K | $372.5K | -6.9% |
Housing Supply in Tampa, FL
How many homes are available in Tampa, FL?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 3,239 | 3,169 | -2.2% |
Summary: The Tampa real estate market had 3,169 homes for sale in November 2023, a 2.2% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 173 | 171 | -1.2% |
| 2 Bedrooms | 647 | 649 | 0.3% |
| 3 Bedrooms | 1,380 | 1,342 | -2.8% |
| 4 Bedrooms | 734 | 725 | -1.2% |
| 5+ Bedrooms | 305 | 282 | -7.5% |
Summary: The Tampa housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 1.2%, 2 bedroom homes increased by 0.3%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes decreased by 7.5%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 708 | 557 | -21.3% |
Asking Price vs. Sold Price
320 Homes Were Sold
Under Asking
139 Homes Were Sold
At Asking
98 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Tampa, you may be able to get a good deal. 57.5% of homes here sold below asking price last month.
Summary: A total of 557 homes were sold or pending in Tampa in November 2023, down by 21.3% month-over-month. Of the 557 sold homes, 57% were sold under asking, 25% were sold at asking, and 18% were sold over asking.
Days on Market for Tampa, FL
How long does it take to sell a home in Tampa, FL?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 32 Days | 35 Days | +10.3% |
Summary: Homes in Tampa had an average of 35 days on market in Nov 2023, up by 10.3% compared to last year.
Breakdown of Home Sale Times
347 Homes Were Sold
Under 30 Days
158 Homes Were Sold
In 30 - 90 Days
52 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Tampa are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 557 homes were sold in Tampa; 62% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
Report Updated 18 Days Ago
As a real estate expert deeply immersed in market trends, I can confidently analyze the housing market conditions in Tampa, FL, based on the provided information. My extensive knowledge allows me to interpret the data and provide valuable insights into the dynamics of the Tampa real estate landscape.
Housing Market Conditions:
Market Type:
Since November 2022, Tampa has consistently maintained its status as a Seller's Market. This means that it is currently more favorable for sellers than buyers.
Key Takeaway:
Tampa is identified as a Sellers Housing Market, characterized by higher prices and faster-selling homes.
Housing Prices in Tampa, FL:
Median Sold Price:
In November 2023, the median home sold price in Tampa was $407,393, showing a modest increase of 0.7% compared to the previous year.
Price per Square Foot:
The median price per square foot for homes in Tampa is $263.
Summary:
The housing market in Tampa has seen a 0.7% increase in median prices, with the median sold price at $407,393 and a price per square foot of $263.
Median Sold Price By Bedroom Count:
Bedroom-wise Changes:
- 1 Bedroom: Decreased by 12.1%
- 2 Bedrooms: Decreased by 5.2%
- 3 Bedrooms: Increased by 0.7%
- 4 Bedrooms: Decreased by 2.9%
- 5+ Bedrooms: Decreased by 5.5%
Summary:
The housing prices in Tampa, categorized by bedroom count, reveal varied changes for November 2023 compared to the previous year.
Median Sold Price Compared To Nearby Cities:
- Palm River-Gibsonton: +1.4%
- Lutz: -0.6%
- Temple Terrace: -5.7%
- Thonotosassa: -6.9%
Housing Supply in Tampa, FL:
Number of Homes For Sale:
In November 2023, there were 3,169 homes for sale in Tampa, representing a 2.2% decrease compared to October 2023.
Inventory Changes By Bedroom Count:
- 1 Bedroom: -1.2%
- 2 Bedrooms: +0.3%
- 3 Bedrooms: -2.8%
- 4 Bedrooms: -1.2%
- 5+ Bedrooms: -7.5%
Number of Homes Sold:
There was a significant 21.3% month-over-month decrease in the number of homes sold in November 2023.
Asking Price vs. Sold Price:
- 57.5% of homes sold below asking price
- 25% of homes sold at asking price
- 18% of homes sold over asking price
Days on Market:
Homes in Tampa took an average of 35 days to sell in November 2023, reflecting a 10.3% increase compared to the previous year.
Breakdown of Home Sale Times:
- Under 30 Days: 62% of homes
- In 30 - 90 Days: 28% of homes
- Over 90 Days: 9% of homes
Summary:
Tampa's real estate market is experiencing a decrease in inventory, a decline in the number of homes sold, and an increase in the average days on market. However, there is a notable percentage of homes selling below the asking price.
In conclusion, if you're planning to buy a home in Tampa, the current market conditions suggest the possibility of finding good deals, but the competitive landscape requires swift action. This comprehensive analysis provides a nuanced understanding of the Tampa housing market as of November 2023.
