2021 Tampa Housing Trends

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. 

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Why Tampa Real Estate Is One of the Hottest Markets

Many people are claiming that Tampa is the hottest real estate market in the state. Many investors and property managers are looking at Tampa for investments. Here are some of the reasons Tampa real estate is one of the hottest markets and why you should take advantage of the opportunity.

Rising House Prices

The average price of houses in Tampa has gone up significantly in the last two years, and it is predicted that there is an 84 percent chance that the market will continue to climb in the next two years. By predictions, home values will be significantly higher at the end of 2021 than they were at the end of 2018. If you buy now, you could find yourself with a lot of equity for little investment.

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Three Reasons Tampa Heights Is Back in Favor

No neighborhood in Tampa is growing quite like Tampa Heights. Located only one mile north of downtown Tampa, Tampa Heights has previously been considered a rough neighborhood that most people wouldn’t live in, but that seems to be changing as more professionals move into the area. Housing prices have soared by 64 percent, crime has dropped dramatically by 64-75 percent, and convenience seems to be the theme. Here are the top reasons that Tampa Heights is back in favor.

Convenience

People who have lived in the suburbs of Tampa are starting to move into the more urban areas simply due to convenience. Living in Tampa Heights means that you can walk to most of the shopping and restaurants that people usually come to Tampa to experience. You’ll also likely have a shorter commute to and from work, and you will have less stress due to extra driving.

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