The Tampa Bay Real Estate Market remains a hot seller's market!
Tampa's real estate market has had a flood of out-of-state buyers looking for more space, better weather, and a lower cost of living. Specifically, residents from California, New York, Connecticut, New Jersey, and Washington DC are fleeing from high taxes and cold weather. This influx was sparked by the pandemic and workers' ability to work from home. Below are the most recent statistics:
-There is still currently ONLY 1 month of resale inventory. This is the lowest we've had thus far making it a competitive seller’s market.
-The average sales price has increased from $305,731 last year in June 2020 to $382,401 this year in June 2021.
-The average number of days on market has decreased again from 27 days in May to only 22 days in June.
It’s an amazing time to sell in Tampa Bay and buyer demand is still steady due to low interest rates and low inventory.