Tampa Real Estate Guide
Tampa is one of the most sought-after cities in the Sunshine State. With a unique coastal atmosphere, robust job market, new commercial developments, and more, there’s no question that Tampa real estate has a bright future ahead.
Whether you’re looking to buy or sell a home in Tampa, it’s crucial to have a professional by your side to help navigate this competitive market. With decades of valuable industry experience, the experts at Mark Spain Real Estate are more than well-equipped to guide you through the Tampa housing market. Below, we’ve compiled a comprehensive guide to Tampa real estate for potential buyers and sellers of this Floridian metropolis.
Tampa Real Estate Guide
Tampa Real Estate Overview
Given Tampa’s popularity, home sellers and buyers must enter the market with intention. Whether searching for a home or listing one for sale, buyers and sellers must study local real estate trends before taking the plunge. At Mark Spain Real Estate, our experts recommend evaluating the following factors before entering the Tampa housing market:
Median Listing Price
The median listing price in Tampa is $445,000 as of August 2023.
Number of Active Listings
The number of active listings in Tampa as of August 2023 is 16,967 listings, down 6% from August 2022.
Days on Market
As of August 2023, the average number of days on the market for Tampa listings is 43 days, showing a 115% increase from August 2022.
How Much Do Homes in Tampa Sell For?
As of August 2023, the median sale price for a Tampa home is $381,000. Being the third largest city in Florida, Tampa fosters a fairly competitive housing market. High-performing listings usually receive multiple offers, with most selling close to their listing price.
Migrational trends in Tampa are primarily internal. Most Tampa home buyers are current residents wanting to relocate within the Tampa metropolitan area. Meanwhile, the smaller portion of the buyer pool consists of homebuyers from northern metros seeking refuge from the cold. Many of these buyers come from New York, Washington, DC, Chicago, and Boston. They say living in Tampa is like a vacation that never ends!
When Is the Best Time to Buy or Sell a Home in Tampa?
Because of Tampa’s consistent climate, the lines between the best and worst times to enter the real estate market are blurred. Typically, markets with cooler winters and idyllic summers see market peaks in the warmer months. However, this isn’t always the case in Tampa.
If you’re buying a home in Tampa, you’ll notice that the local real estate market is alive and thriving in the dead of winter. Buyers often relocate to Tampa during the first three months of the year to escape cooler temperatures up north. If you’re a buyer who wants plenty of options, winter will offer the most extensive selection. However, that isn’t to say there isn’t a fair share of Tampa homes for sale in the spring and summer. Like most markets, Tampa real estate thrives in the warmer seasons. Tampa buyers shopping in the summer will still find a large inventory of listings but also easier negotiations with sellers. Often, sellers are more eager to get their homes off the market before fall rolls around, meaning they’ll be more willing to negotiate pricing.
As a seller, you’ll find success during any season in Tampa. However, specific periods might offer quicker sales and more significant profits. Generally, summer and spring are your best bet for a quick sale and maximized profit. However, as mentioned above, you can’t go wrong selling in the winter either. Tampa’s desirable climate allows sellers to be flexible with their timelines, as they’ll never have to worry about a shortage of buyers. The one period that might see the least action is the fall. However, listing during this time will not be detrimental to your sale.
How Can I Sell My Home Fast in Tampa?
Selling a home in a time crunch is a piece of cake in Tampa. As the third largest city in Florida, Tampa has a consistent and robust housing market with ample supply and demand. Generally, sellers will have nothing to worry about in this thriving real estate hub. However, they should still prepare themselves to face common home-selling obstacles.
Hiring an experienced real estate agent is the best way to overcome home-selling hurdles. At Mark Spain Real Estate, our Tampa team offers exclusive market insight and top-performing home-selling strategies to ensure a quick, profitable sale. From advising on home improvements to setting a fair listing price, we are committed to streamlining your sale while maximizing profit.
What Are the Best Neighborhoods in Tampa?
Tampa real estate boasts many top-quality residential areas and neighboring cities. Whether looking for a serene coastal community or a bustling urban kingdom, you’ll find it all in Tampa. Read below to learn about some of the top neighborhoods and cities in or near the Tampa metropolitan area.
With stunning scenery, safe neighborhoods, quality education, and more, what’s not to love about downtown Tampa? This thriving residential area boasts diverse properties, from trendy condos to peaceful beachside residences. Whether you’re a growing family or a single young professional, you’ll find your fit in Tampa.
Located right on the coast, Riverview is one of Tampa’s most sought-after suburbs. With easy beach and river access, family-friendly attractions, and deluxe cuisine, Riverview checks nearly every box on a Florida buyer’s wish list. As a buyer, you’ll find all kinds of properties in Riverview, from large-family residences to cozy starter homes.
Just 50 miles north of downtown Tampa, Spring Hill is one of Florida’s most vibrant communities. With eye-catching wildlife and peaceful parks and beaches, Spring Hill is the perfect place to be one with nature in the sunshine state.
Conveniently located between Orlando and Tampa, Lakeland offers the best of both worlds. This popular Floridian city fosters the perfect blend of tropical paradise and urban powerhouse, catering to buyers of all ages and lifestyles.
If you like being on the lake, you’ll love Winter Haven. Located south of Orlando, this unique city prides itself on its natural beauty, stunning vistas, and fun lakeside activities. To no surprise, adventure-goers can’t get enough of Winter Haven!
With fantastic weather and breathtaking beaches, Clearwater is one of the most picturesque cities near Tampa. Home to over 100,000 people, this Floridan paradise boasts some of the best real estate in the state.
Sell a Home in Tampa with Mark Spain Real Estate
Do you want to buy or sell a home in Tampa? The industry professionals at Mark Spain Real Estate are here to help you navigate Tampa real estate. With decades of industry experience, our team will help you become an expert in the Tampa housing market hassle-free! Check out our Guaranteed Offer Program for the potential to receive a competitive cash offer on your home in only 21 days. Contact our agents today!
Buying A Home, Selling a Home