Is South Tampa, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, South Tampa was a Seller's Market.
Key Takeaway
South Tampa is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in South Tampa, FL
How much do homes in South Tampa, FL cost?
Median Sold Price
$653,241
$366/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in South Tampa have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in South Tampa was $653,241 in April 2024, up 4.8% from last year, and the median price per square foot was $366.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $229.9K | $229K | -0.4% |
| 2 Bedrooms | $384.7K | $365.1K | -5.1% |
| 3 Bedrooms | $543.4K | $611.5K | +12.5% |
| 4 Bedrooms | $900K | $892.6K | -0.8% |
| 5+ Bedrooms | $1.7M | $1.8M | +6.6% |
Summary: South Tampa housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.4%, 2 bedroom homes decreased by 5.1%, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes increased by 6.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Fair Oaks / Manhattan Manor | $285K | $317.5K | +11.4% |
| South Tampa | $623.5K | $653.2K | +4.8% |
| Bayside West | $377.5K | $386.2K | +2.3% |
| Bel Mar Gardens | $1.1M | $722.5K | -37.1% |
Housing Supply in South Tampa, FL
How many homes are available in South Tampa, FL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 787 | 803 | +2.0% |
Summary: The South Tampa real estate market had 803 homes for sale in April 2024, a 2.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 58 | 66 | +13.8% |
| 2 Bedrooms | 124 | 127 | +2.4% |
| 3 Bedrooms | 288 | 295 | +2.4% |
| 4 Bedrooms | 205 | 198 | -3.4% |
| 5+ Bedrooms | 112 | 117 | +4.5% |
Summary: The South Tampa housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.8%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 2.4%, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes increased by 4.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 172 | 127 | -26.2% |
Asking Price vs. Sold Price
82 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
20 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. 64.6% of homes here sold below asking price last month.
Summary: A total of 127 homes were sold or pending in South Tampa in April 2024, down by 26.2% month-over-month. Of the 127 sold homes, 65% were sold under asking, 20% were sold at asking, and 16% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 32 Days | 41 Days | +27.6% |
Summary: Homes in South Tampa had an average of 41 days on market in Apr 2024, up by 27.6% compared to last year.
Breakdown of Home Sale Times
79 Homes Were Sold
Under 30 Days
30 Homes Were Sold
In 30 - 90 Days
18 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 April 2024, 127 homes were sold in South Tampa; 62% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
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