A Quick Tampa Real Estate Update for March

There were 86 home sales in February, which is slightly down from last month and from February 2021. The good news is that the median price has increased 21% from last year and 8.5% from last month.

The bad news is that our supply of homes is still very low. The supply of homes in South Tamaps is 1.15 months, and the number of new homes that hit the market in February is slightly up from January 2022 but slightly down from February 2021. Our average days on market is staying daily steady at 40 days.

As far as interest rates are concerned, they jumped up to around 4.25% but they've since dropped to an average of 3.65%. Stay tuned for our next video where we will explain all of that in further detail.

If you have any questions about the market or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.