Real estate market updates on the Tampa Bay residential housing market.

Selling a home in Tampa Bay, Florida, should be a breeze, given the region's beautiful landscapes and vibrant communities. However, even in this attractive real estate market, some homes linger on the market for longer than expected. In this blog post, we'll explore the top reasons why homes may not sell in Tampa Bay and how to avoid these common pitfalls.

1. Overpricing:

One of the most prevalent reasons homes sit unsold is overpricing. While optimism is natural when it comes to your home's value, setting an unrealistic price can deter potential buyers. To avoid this, consult with a local real estate agent who can provide a comparative market analysis and help you determine the right price for your property.

2. Neglecting Curb Appeal:

First…

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According to economics 101, ultimately a property is worth what a Buyer will pay, so we could just say that properties are more expensive in South Tampa because buyers are willing to pay more. However, why are buyers willing to pay more for a home or condo in South Tampa and what are the microeconomic forces affecting pricing? Ultimately, that comes down to the Supply and Demand curve. In general, if demand is higher than supply, prices will increase. Visa versa, if Supply is greater than Demand then prices will decline, and if there is an equilibrium, then prices will stay relatively flat. In short, prices are higher in South Tampa because Demand is higher relative to Supply. Also, keep in mind many of the micro markets in Tampa Bay move in tandem with…

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Are you wondering what kind of home you can purchase in South Tampa for a half million dollars ($500,000)? Here are your current options in the South Tampa Zip Codes of 33606, 33609, 33611, 33616, and 33629.

*listings are updated in real time (so even if you look at this post a year from now, the listings will be current).



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A Summary of Hillsborough County housing market statistics

Microscopic record low levels of inventory continue across much of Florida, and Hillsborough county is no exception. Average days on market are at or near a record low, meaning buyers don't have much time to view or put in an offer, and depending on price point many homes are gathering multiple offers. Inventory levels are below 1 month of supply, and demand continues to outpace supply. We are anticipating interest rates to continue to rise, as the Fed tries to control inflation and slow down housing demand. This increase may have an effect on buyer demand in the months to come, but until the supply and demand equilibrium changes, we expect home prices to continue to rise in the Tampa Bay Region.

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