Performance Tracker of Some of Tampa’s Hottest Spots
Everyone is dying to know– what will the 2024 real estate market bring? The last few years have brought historically high prices with equally low confidence in home buyers. And while no one has a crystal ball, understanding the current market performance for your target neighborhoods can put you in a much better position to buy or sell real estate.
So, as we begin a fresh year, we’re kicking off our monthly real estate report for some of the hottest spots in the Tampa, Florida area. Keeping a regular pulse of market performance can help you set your expectations for when to buy that perfect property or to list it at the right time.
Overview: It’s a Seller’s Market
Real estate prices continue to rise or hold after record price jumps in recent years– and we’re a long way from a balanced market.
5 of Tampa’s Hottest Areas Market Data
Let’s review 5 of the hottest real estate destinations in the greater Tampa Area, including some of the area’s most competitive neighborhoods as markets closed December, 2023.
LUTZ
- Median list price: $479,805
- Median list price YTY: No significant price change
- Available inventory: -7.7% MTM, 253 open listings
- Homes sold: -13.1% MTM, 53 homes sold
- Time on the market: +11.4% YTY, average of 42 days
PALM RIVER- GIBSONTON
- Median list price: $329,994
- Median list price YTY: -0.1% (down $221 from last year)
- Available inventory: -7.2% MTM, 244 open listings
- Homes sold: -18.9%, 43 homes sold
- Time on the market: -11.4% YTY, average of 34 days
PEBBLE CREEK
- Median list price: $439,449
- Median list price YTY: -2.3% (down $10.3k from last year)
- Available inventory: +9.1% MTM, 36 open listings
- Homes sold: -50.0% MTM, 4 homes sold
- Time on the market: +19.1% YTY, average of 39 days
TAMPA PROPER
- Median list price: $409,783
- Median list price YTY: -0.1% (down $216 from last year)
- Available inventory: -6.0% MTM, 2,967 open listings
- Homes sold: -5.1% MTM, 578 homes sold
- Time on the market: 0% YTY, average of 38 days
WESLEY CHAPEL
- Median list price: $409,985
- Median list price YTY: -4.6% (down -$19.7k from last year)
- Available inventory: -8.2% MTM, 582 open listings
- Homes sold: +6.1% MTM, 140 homes sold
- Time on the market: -17.5% YTY, average of 32 days
New to Tampa? We’ve Got You Covered
As the market continues to hold out on home buyers, working with qualified, local real estate experts has never been more critical– and that’s where we come in.
Shop or list your residential or commercial real estate confidently by working with our team at Prospera Realty today!
References:
https://www.niche.com/places-to-live/search/best-suburbs/m/tampa-metro-area/
