Tampa FL Housing Market

By announcements, Buying, Selling, Uncategorized February 7, 2023
Tampa FL Housing Market Title picture that shows a faded modern two story home in background.

Tampa FL Housing Market

The Tampa FL housing market is a popular destination for homebuyers. Indeed, many are moving to the area to be a part of its sunny beaches, warm weather, and thriving economy. Despite its popularity, the market can be somewhat competitive.  Furthermore with the rising home prices and a shifting trend in migration and relocation, the market is sometimes tough. This is why you need the Top Realtor Tampa Team to navigate the competitive market.  Let’s take a closer look at the current housing market trends in Tampa.

Rising Home Prices: Tampa FL Housing Market

Migrating trends to Tampa, FL. The map picture has arrows showing where people are moving from, to live in Tampa.

Migrating trends to Tampa, FL

The median home price in Tampa reached $376K in December 2022, a 10.9% increase from the previous year. The increase in home prices is positive news.  Conversely, the number of homes sales Tampa FL in December 2022 was lower in comparison to the previous year.  In fact, the difference is with only 540 homes sales in contrast to 880 homes sales in December 2021.

Somewhat Competitive Market:  Tampa FL Housing Market

Tampa’s housing market is currently somewhat competitive, with a Redfin Compete Score of 1.5 out of 5. Some homes receive multiple offers, and the average home sells for about 3% below the list price. On average, homes in Tampa take 29 days to sell.  Alternatively, this is longer compared to last year when homes were selling in just 14 days.

Relocation Trends:  Tampa FL Housing Market

Migrating trends of people leaving Tampa FL. The picture shows arrows on a map where people leaving Tampa are moving.

Migrating trends of people leaving Tampa FL.

In the period from October to December 2022, 28% of Tampa homebuyers searched to move out of the city, while 72% looked to stay within the metropolitan area and pursued working with a Top Realtor Tampa Avalon Group. Among those searching to move into Tampa FL Housing Market, the majority were coming from outside metros, with New York being the most popular source of migration, followed by Chicago and Washington. Conversely, the most popular destinations for Tampa homebuyers were within the metropolitan area, with Asheville, Ocala, and Sarasota being the top three choices.

Conclusion:  Tampa FL Housing Market

In conclusion, the Tampa housing market is a competitive one, with rising home prices and a growing number of homebuyers looking to stay within the metropolitan area. Its beautiful beaches, warm weather, and thriving economy make it a popular destination for homebuyers, whether they are first-time buyers, investors, or relocators. If you’re considering the Tampa housing market, it’s worth being aware of the current trends and data to determine if it’s the right fit for you.

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About the Author
Aaron Hunt
Aaron Hunt, Broker

Raised in a family of creative entrepreneurs, Aaron Hunt, Realtor St Petersburg FL, guides his clients with the same irrepressible spirit he was surrounded by as a kid. A Florida transplant, Aaron relates well to the out-of-state buyers, retirees, and vacation home-dwellers who make up the bulk of his clientele. He makes no secret of his love for St. Petersburg and its neighboring cities and towns, and it fuels his passion for helping buyers find their dream home.

Originally from the San Francisco Bay Area, Aaron grew up on the West Coast. His family owns hotels throughout California, Idaho, and Las Vegas, which has shaped Aaron’s eye for detail and his mind for business. In his subsequent career in the spa industry, he established a high bar for client service designed to cater to every discerning taste. From pampering spa customers to tending to real estate clients, Aaron knows how to take care of people.

Realtor St Petersburg FL:  Exceeding Expectations

By limiting the number of clients he represents at any given time, he ensures his undivided attention, absorbing every detail so he can deliver outstanding results and exceed expectations. Aaron co-founded Avalon Group, Realtor St Petersburg FL, in 2014 and grew it into the top-rated real estate team in St. Petersburg and Tampa Bay out of over 10,000 agents. Some of Aaron's greatest strengths are organizing and leading complex projects, making deals happen, and driving profit.

Aaron negotiates deftly for his buyers’ ideal homes.  Furthermore,  he attracts multiple enticing offers for his sellers’ properties.   Aaron prepares meticulously for every transaction, thoroughly covering every detail so clients encounter no surprise. He also relies on his dynamic support team and vast professional network to ease every facet of a transaction.  Additionally he makes sure to fulfill specific client needs. Aaron, a broker associate and Pricing Strategy Advisor, satisfies his competitive streak when everyone wins.

Realtor St Petersburg FL:  Living the Tampa Bay Lifestyle

Aaron has been a proud Florida resident since 2013. There’s always something interesting to do in St. Petersburg, and Aaron relishes it, exploring the city, traveling, hiking, biking, and visiting with friends. He also enjoys trying new restaurants in the region, especially in neighborhoods where he has homes listed. Aaron takes time to give back to his community by supporting St. Pete Pride and other annual festivals throughout the area.