Tampa Market Update- August 2021
The real estate market remains strong! Homes are staying on the market for a shorter period of time and going for higher prices than before! Let’s not forget to pay attention to the changing Tampa Market for the month of August! Take a look at our August 2021 Tampa Real Estate Market Update for the month to understand the residential real estate activity in your area.
To learn more about real estate market trends, tips, and information, visit our blog!
Hard Facts- Tampa Market Update
- The number of active listings is down 56% from the previous year and did not change from the previous month
- The median listing price for the month of July was $370,000
- The number of days on the market is down 69%
- The median sales price for the month of July was just under $320,000
- The number of units sold decreased 14% month over month
What Does This Mean For You?
Buyers, the number of active listings decreasing from last year and not changing from the previous month indicates a larger selection of homes to choose from. This is advantageous to buyers, they are more likely to find the homes of their dreams in more desired locations. Buyers are also more likely to have more room for negotiations to create better terms with the seller due to the number of units sold decreasing.
Sellers, the number of days on the market is down 69% from the previous year. This indicates a positive trend in local inventory turnover rates. Sellers are able to sell their homes at a faster rate than before! The number of units sold has decreased month over month, so buyers have more potential to negotiate more in this competitive market.
Mark Spain Real Estate is here to help you make smart and informed real estate decisions. Navigating the real estate market can be difficult, and you don’t want to do it alone. That’s why we are grateful to provide up-to-date information for our clients to stay informed about recent residential real estate trends. Our team knows the Tampa market well, and your experience is our top priority. Take advantage of the real estate market now and get your home sold FAST! Contact us today to get a head start.