Florida’s population is growing faster than any other state, even in the midst of a pandemic. What does this mean for Tampa housing prices? Now that it’s a buyer’s market and home values are rising, 2021 housing trends could get interesting. Here’s how we see things playing out.
Median sale price of Tampa homes continues to increase
In this buyer’s market, there are often multiple offers on a home, with the median price of Tampa homes continuing to climb over the last year. Florida has long had an affordable housing market, and is currently running about $50,000 lower than the rest of the country. The current median sale price is about $285,000, up just over $25,000 from 2019. The demand, however, is for the luxury properties. The wealthy continue to flock to the Tampa Bay area which offers vast options for luxury homes on and off the water.(more…)