Tampa Bay 2018 Housing Market Statistics

Tampa Bay 2018 Housing Market Statistics

According to the Florida Realtors Association, Single Family Homes in the Greater Tampa Bay area, including Hillsborough, Pinellas, Pasco and Hernando counties saw in increase of over 6% in the average home sale price for 2018, over prices the year before. Another important factor in home sales is the listing price. More Sellers also priced their homes closer to fair market value, which they capitalized on by receiving over 96% of their asking price in these closed sales.

With the amount of new listings hitting the market up 5%, a more balanced market is on the horizon, meaning more housing inventory and opportunities for Buyers looking in Tampa Bay. This should help to ease some of the affordability constraints Buyers have faced in recent years. While many buyers still want to find that great deal out there, with foreclosed or short sale properties, those home sales were down over 37% and 46% respectively.

As you can see, the largest sector of closed sales for 2018, came from the luxury market, with single-family homes priced at $1 million and above, followed closely by homes price between $300k and $400k.

Tampa Condo and Townhome 2018 Stats

Tampa Bay’s Condo and Townhome market also gained a large increase in the average sale price year over year! These properties rose in value 7% for 2018. While the number of closed sales dropped slightly, the Sellers dollar amount rose. Buyers will also see an increase of inventory in the condo and townhome market, as new developments are completed and ready for move-in.

It’s an exciting time for many new condo and townhome developments. Midtown Tampa, Water Street and Marina Pointe, just to name a few, are changing the Landscape of Tampa Bay, offering various types of housing for today’s Buyers.
According to numbers provided by the Florida Realtors Association, the largest sector of closed sales for condos and townhomes in Tampa Bay for 2018, were those priced in the $600,000 – $1 million price range.
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