Is South Tampa, 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, South Tampa has remained a Seller's Market.
Key Takeaway
South Tampa is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Tampa, FL
How much do homes in South Tampa, FL cost?
Median Sold Price
$648,939
$363/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in South Tampa have sold for 4% more than they did a year ago.
Summary: The median home sold price in South Tampa was $648,939 in March 2024, up 4% from last year, and the median price per square foot was $363.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | $230K | +2.2% |
| 2 Bedrooms | $387.6K | $370K | -4.5% |
| 3 Bedrooms | $546.5K | $599.6K | +9.7% |
| 4 Bedrooms | $891.8K | $895.4K | 0.4% |
| 5+ Bedrooms | $1.7M | $1.7M | +2.7% |
Summary: South Tampa housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.2%, 2 bedroom homes decreased by 4.5%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 2.7%.
Median Sold Price Compared To Nearby Neighborhoods
| Fair Oaks / Manhattan Manor | $294.7K | $315K | +6.9% |
| South Tampa | $624.1K | $648.9K | +4.0% |
| Bayside West | $370K | $381K | +3.0% |
| Bel Mar Gardens | $1.1M | $974.5K | -15.2% |
Housing Supply in South Tampa, FL
How many homes are available in South Tampa, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 756 | 790 | +4.5% |
Summary: The South Tampa real estate market had 790 homes for sale in March 2024, a 4.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 56 | 61 | +8.9% |
| 2 Bedrooms | 120 | 123 | +2.5% |
| 3 Bedrooms | 289 | 295 | +2.1% |
| 4 Bedrooms | 191 | 204 | +6.8% |
| 5+ Bedrooms | 100 | 107 | +7.0% |
Summary: The South Tampa housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.9%, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 145 | 165 | +13.8% |
Asking Price vs. Sold Price
108 Homes Were Sold
Under Asking
35 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Tampa, you may be able to get a good deal. 65.5% of homes here sold below asking price last month.
Summary: A total of 165 homes were sold or pending in South Tampa in March 2024, up by 13.8% month-over-month. Of the 165 sold homes, 65% were sold under asking, 21% were sold at asking, and 13% were sold over asking.
Days on Market for South Tampa, FL
How long does it take to sell a home in South Tampa, FL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 50 Days | 53 Days | +7.1% |
Summary: Homes in South Tampa had an average of 53 days on market in Mar 2024, up by 7.1% compared to last year.
Breakdown of Home Sale Times
95 Homes Were Sold
Under 30 Days
33 Homes Were Sold
In 30 - 90 Days
37 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Tampa are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 165 homes were sold in South Tampa; 58% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
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