Tampa Bay Real Estate Market Update | March 2020

The real estate landscape in Tampa Bay, encompassing Pinellas, Pasco, Hillsborough, and Hernando counties, has always been a dynamic and evolving market. The Florida REALTORS®' recent release of the February 2020 real estate statistics offers valuable insights, especially considering the ongoing changes brought about by the global pandemic.

Key Highlights from February 2020

Median Sales Price: February saw a remarkable increase in the median sales price for single-family homes in the Tampa Bay area. The figure reached $252,000, marking a 7% rise from February 2019. This is one of the highest increases observed in the past 12 months, indicating a strong market performance.

Time on Market: Homes were going under contract in about 38 days, a decrease from the 46 days in the same month last year. Although this represented a slight increase from the preceding months, it still signals a fast-moving market.

Active Listings: There was a significant 25% drop in active listings compared to last February, with less than 9,000 homes on the market at the end of the month. This reduction underscores the continuing trend of low inventory in the Tampa Bay real estate market.

As top real estate agents in Tampa Bay, we are closely monitoring these trends to understand how the current global situation might impact the market. We aim to keep our clients informed and ready to make the best decisions, whether they wish to buy in Tampa Bay, sell, or invest.

Stay Informed

In these uncertain times, having a knowledgeable and experienced real estate consultant by your side is more crucial than ever. We are committed to providing regular updates and guidance on the Tampa Bay real estate market. To stay updated, we invite you to subscribe to our YouTube channel and follow our updates.

Should you have any questions or need assistance in navigating the Tampa Bay real estate market, feel free to reach out to us. Our team, recognized as some of the best realtors in Tampa Bay, is here to help you with all your real estate needs.

Wishing you a great day and looking forward to guiding you through your real estate journey in Tampa Bay.

How Can We Help You?

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Post a Comment