Is West 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, West Tampa has remained a Seller's Market.
Key Takeaway
West Tampa is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Tampa, FL
How much do homes in West Tampa, FL cost?
Median Sold Price
$448,500
$312/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in West Tampa have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in West Tampa was $448,500 in March 2024, up 4.3% from last year, and the median price per square foot was $312.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $239K | $233.5K | -2.3% |
| 2 Bedrooms | $310.9K | $322K | +3.6% |
| 3 Bedrooms | $432.5K | $453.3K | +4.8% |
| 4 Bedrooms | $645K | $680.8K | +5.6% |
| 5+ Bedrooms | $764.3K | $1.0M | +35.6% |
Summary: West Tampa housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.3%, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 35.6%.
Median Sold Price Compared To Nearby Neighborhoods
| MacFarlane Park | $400K | $429.9K | +7.5% |
| West Tampa | $430K | $448.5K | +4.3% |
| The Marina Club of Tampa | $269.9K | $275K | +1.9% |
Housing Supply in West Tampa, FL
How many homes are available in West Tampa, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 173 | 165 | -4.6% |
Summary: The West Tampa real estate market had 165 homes for sale in March 2024, a 4.6% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 13 | -7.1% |
| 2 Bedrooms | 40 | 36 | -10.0% |
| 3 Bedrooms | 66 | 68 | +3.0% |
| 4 Bedrooms | 47 | 42 | -10.6% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The West Tampa housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 7.1%, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 3%, 4 bedroom homes decreased by 10.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 46 | 32 | -30.4% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Tampa, you may be able to get a good deal. 56.3% of homes here sold below asking price last month.
Summary: A total of 32 homes were sold or pending in West Tampa in March 2024, down by 30.4% month-over-month. Of the 32 sold homes, 56% were sold under asking, 16% were sold at asking, and 28% were sold over asking.
Days on Market for West Tampa, FL
How long does it take to sell a home in West Tampa, FL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 54 Days | 55 Days | +1.4% |
Summary: Homes in West Tampa had an average of 55 days on market in Mar 2024, up by 1.4% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Tampa are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 32 homes were sold in West Tampa; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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