Is Hillsborough County, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Hillsborough County has remained a Seller's Market.
Key Takeaway
Hillsborough County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hillsborough County, FL
How much do homes in Hillsborough County, FL cost?
Median Sold Price
$399,674
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Hillsborough County have sold for 1.3% more than they did a year ago.
Summary: The median home sold price in Hillsborough County was $399,674 in March 2024, up 1.3% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $179.5K | $185.6K | +3.4% |
| 2 Bedrooms | $269.9K | $270.7K | 0.3% |
| 3 Bedrooms | $368.9K | $370.1K | 0.3% |
| 4 Bedrooms | $489.3K | $491.5K | 0.4% |
| 5+ Bedrooms | $661.6K | $687.2K | +3.9% |
Summary: Hillsborough County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.4%, 2 bedroom homes increased by 0.3%, 3 bedroom homes increased by 0.3%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 3.9%.
Median Sold Price Compared To Nearby Counties
| Pinellas County | $386.1K | $400K | +3.6% |
| Hillsborough County | $394.6K | $399.6K | +1.3% |
| Pasco County | $329.7K | $329.7K | 0.0% |
| Manatee County | $475.3K | $470.1K | -1.1% |
| Polk County | $325K | $320K | -1.5% |
Housing Supply in Hillsborough County, FL
How many homes are available in Hillsborough County, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7,585 | 7,920 | +4.4% |
Summary: The Hillsborough County real estate market had 7,920 homes for sale in March 2024, a 4.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 254 | 288 | +13.4% |
| 2 Bedrooms | 1,384 | 1,511 | +9.2% |
| 3 Bedrooms | 3,024 | 3,108 | +2.8% |
| 4 Bedrooms | 2,162 | 2,217 | +2.5% |
| 5+ Bedrooms | 761 | 796 | +4.6% |
Summary: The Hillsborough County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.4%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 4.6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,437 | 1,540 | +7.2% |
Asking Price vs. Sold Price
910 Homes Were Sold
Under Asking
394 Homes Were Sold
At Asking
236 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hillsborough County, you may be able to get a good deal. 59.1% of homes here sold below asking price last month.
Summary: A total of 1,540 homes were sold or pending in Hillsborough County in March 2024, up by 7.2% month-over-month. Of the 1,540 sold homes, 59% were sold under asking, 26% were sold at asking, and 15% were sold over asking.
Days on Market for Hillsborough County, FL
How long does it take to sell a home in Hillsborough County, FL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 50 Days | 50 Days | +0.8% |
Summary: Homes in Hillsborough County had an average of 50 days on market in Mar 2024, up by 0.8% compared to last year.
Breakdown of Home Sale Times
815 Homes Were Sold
Under 30 Days
416 Homes Were Sold
In 30 - 90 Days
309 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hillsborough County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 1540 homes were sold in Hillsborough County; 53% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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