The Tampa housing market is always changing, and it can be tough to keep up with all the latest trends. That’s why we’ve put together this guide to help you understand what’s happening in the market right now. We’ll discuss the average home prices in Tampa, as well as the high and low points of the market. We’ll also tell you about some of the best areas to live in Tampa, and explain why they’re so great! And finally, we’ll give you a snapshot of the latest sale-to-list price ratio in Tampa and what the average days are on the housing market.
So whether you’re thinking of buying a home in Tampa or just want to stay up-to-date on the market, this guide has everything you need.
Average Home Price in Tampa
A good indication of how well a real estate market is doing is by observing the average home prices. As of summer 2022, the average price for a home in Tampa is $408,997. If you’re thinking of buying a home in Tampa, now is a great time to do it!
If you’re considering selling your home, you may be wondering what your home is worth. Home values in Tampa have gone up 36.3% since last year.
However, it’s important to note that the market is still fairly volatile, especially with the increase in interest rates, making prices change quickly.
So if you’re considering selling, it’s a good idea to take advantage of current home values and list your home soon.
High and Low Home Prices in Tampa
Although the average home price in Tampa is $408,997, the prices for single-family homes can range widely depending on the size, location, and amenities of the home. The most expensive home currently listed in Tampa is $18 million while the least expensive home only cost $19,000. *data from realtor.com
As you can see, there is a very wide range in prices for homes in Tampa. However, the average price of a home in Tampa is still quite affordable when compared to other major metropolitan areas.
Best Areas to Live in Tampa
If you’re considering moving to the Tampa bay area, there are a few areas that are particularly great for families. For example, the neighborhoods of Carrollwood and Brandon offer excellent public schools, while the neighborhood of Westchase is known for its family-friendly amenities and low crime rate. If you’re looking for a more urban environment, downtown Tampa is a great option with its many restaurants and nightlife options.
The Tampa housing market is a great place to buy a home right now. Prices are affordable, and there are many great neighborhoods to choose from. If you’re thinking of moving to FL, be sure to check out some of the best areas to live in Tampa!
- Davis Island
Davis Islands is a beautiful and historic island neighborhood located in downtown Tampa. The homes on Davis Islands are some of the most luxurious and expensive in Tampa, and the area is known for its amazing views of the city skyline.
-The average home price on Davis Island is $2.5M.
-The average days on the market on Davis Island is 59-days.
- Hyde Park
Hyde Park is a popular and trendy neighborhood located just north of downtown Tampa. Hyde Park is known for its great shopping and restaurants, as well as its lively nightlife scene.
-The average home price in Hyde Park is $3.9M.
-The average days on market in Hyde Park is 49-days.
- South Tampa
South Tampa is one of the most desirable areas to live in Tampa. It is known for its great schools, parks, and recreation.
-The average home price in South Tampa is $475,000.
-The average days on market in South Tampa is 40-days.
- Westchase
Westchase is a family-friendly neighborhood located in northwest Tampa. It is known for its great schools and amenities, as well as its affordable homes.
-The average home price in Westchase is $540,000.
-The average days on market in Westchase is 36-days.
- Carrollwood
Carrollwood is a neighborhood located in northwest Tampa. It is known for its great schools and amenities, as well as its affordable homes.
-The average home price in Carrollwood is $419,000.
-The average days on market in 37-days.
- Brandon
Brandon is a suburb located east of Tampa. It is known for its great schools and family-friendly atmosphere.
-The average home price in Brandon is $370,000.
-The average days on market in Brandon is 35-days.
- Clearwater
Clearwater is a beach community located west of Tampa. It is known for its beautiful beaches and its affordable homes.
-The average home price in Clearwater is $325,000.
-The average days on market in Clearwater is 42-days
- St. Petersburg
St. Petersburg is a waterfront city located west of Tampa. It is known for its beautiful beaches, museums, and parks.
-The average home price in St. Petersburg is $419,000.
-The average days on market in St.Petersburg is 41-days.
Sale-to-List Price Ratio
The sale-to-list price ratio is a good indicator of how strong the housing market is doing. A higher ratio means that homes are selling for closer to their asking price, while a lower ratio means that homes are selling for less than their asking price. Last month the sale-to-list price ratio in Tampa was 101.54%, which means that homes sold for 1.54% above asking price on average. This would indicate that the Tampa real estate is experiencing a hot housing market.
Furthermore this means Tampa, FL is a seller’s market in summer 2022, which means that there are more people looking to buy than there are homes available. This makes selling your Tampa home a great idea right now, as you are likely to sell your home quickly and for a good price.
Average Days on Housing Market
Finally, another helpful way to see how well a housing market is doing is by looking at the average days on market. This is the number of days that a home is typically on the market before it sells. The current average days on market in Tampa is 40, which isn’t terrible. This means that homes are selling relatively quickly in Tampa, which is yet another good sign for sellers. This is a good indicator that the Tampa housing market is healthy and strong.
But this means that on average, homes are spending 40 days on the market before they receive an offer. This does not include the typical 35-day closing period, which means it can take 75-days to sell a home on average from start to finish.
Of course average days on market can vary during the time of year. So curious when to sell your home? Spring and summer tend to be the busiest selling seasons, while fall and winter are the slowest.
However if you work with a local cash homebuyer you can sell your home quickly. Curious how long it takes to sell a house for cash? Because they are able to bypass many of the traditional selling processes, such as showings and open houses, they can close within as little as 7-days.
Final Takeaways
Overall, the Tampa housing market is looking strong and healthy. Prices are affordable, and there is a good selection of neighborhoods to choose from. If you’re thinking of moving to Tampa, now is a great time!
If you’re considering selling your home in Tampa, you’re in luck. The current market conditions are very favorable for sellers, and you can expect to sell your home quickly and for a good price.
However, if 75-days is too long for you to wait to sell your home, there are a few things you can do to speed up the process. One option is to work with one of the companies that buy houses in Tampa or list with a real estate agent. Another option is to consider selling your home as-is. This means that you will sell your home without making any repairs or improvements first. And “We buy homes in Florida” companies buy houses as-is all the time.
If you need someone to “Buy my house in Orlando“, Tampa Bay, Miami, or Sarasota, give us a call today!
We are professional home buyers that have been in business since 2017. We buy houses as-is, so you don’t have to make any repairs or improvements first. And we can close on your schedule, in as little as seven days. Feel free to visit our website or give us a call to get a cash offer for your home today!
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