tampa bay real estate services - craigslist (2024)

FAQs

Is Tampa real estate slowing down? ›

Summary: Tampa housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.6%, 2 bedroom homes decreased by 5%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 2.6%.

According to a recent forecast, the market anticipates a 6.4% growth in the upcoming year. Inventory levels in Tampa are substantial, with a reported 15,247 homes available for sale as of early 2024. This inventory reflects a diverse range of properties available to potential buyers and investors.

Cape Coral on the state's Gulf Coast was listed as the most overpriced Florida area, ranked third at 38.9%. Other Florida cities on the Top 100 list: Tampa (4th most overvalued), Palm Bay (7th), Lakeland (8th), Orlando (9th), North Port (12th), Deltona (13th) and Jacksonville (25th).

Tampa gives different options for various investors. For the first-time investor looking for a more affordable option, Tampa, Florida is the best place to be. Compared to other competitive markets, you will be able to afford a property investment here and enjoy all the perks that come with ownership and leasing.

Sale-to-list price ratio: 100% Homes in Tampa, FL sold for approximately the asking price on average in May 2024. Tampa, FL is a buyer's market in May 2024, which means that the supply of homes is greater than the demand for homes.

Welcome to the Apartment List July 2024 Rent Report for Tampa, FL. Currently, the overall median rent in the city stands at $1,589, roughly the same as last month. Prices remain down 0.9% year-over-year.

TAMPA, Fla. — The U.S. has more than 300 major cities with at least 100,000 people, according to data gathered by the U.S. Census Bureau. Of all those cities, research conducted by Zillow led them to predict Tampa and Orlando would be the 9th and 10th hottest housing markets, respectively, of 2024.

Buying a home this year, particularly in early 2024, might mean you're able to beat the rush, as the market could get more crowded if or when rates drop further. Waiting, however, could give you more options to choose from as supply improves, along with the potential for increased mortgage affordability.

Where is the slowest real estate market? ›

Austin, Texas is the slowest-selling U.S. metro area

Austin, Texas ranked as the slowest-selling metro, according to a recent Creditnews Research study. The average home price in Austin has steadily increased since 1998, according to a 2023 SmartAsset study. Home values have soared 354% over the past 25 years.

Bankrate recently released its picks for the best places to live in 2022. The Tampa Bay region ranked #5 in the country based on: Affordability.

In conclusion, buying a house in Tampa can be a great investment for the right buyer. With a strong real estate market, booming job market, and wide range of amenities, the city offers a lot of appeal for those looking to settle down and build a life in Florida.

The fine print: Despite cooling from the 2022 record-highs, median home prices are still higher than they were pre-pandemic. The area's median sales price was around $370,000 in December 2023, compared to $240,000 in December 2019, per Redfin.

It's difficult to predict whether home prices in Florida will go down. Various factors come into play and the outcome remains uncertain. However, based on the current market momentum, it appears that the price growth may slow down, with potential decreases in some areas.

Tampa, Florida has been named the hottest housing market in the United States for 2022. According to a recent study by Zillow, Tampa outranked other Florida cities as well as major metros like Phoenix and Austin due to its number of potential buyers, scarcity of homes, home sales and flourishing job market.

By the numbers: Among cities with at least a quarter million residents, Tampa is the 11th fastest growing. Its population rose by 1.27% between 2022 and 2023 to 403,364 residents.