South Tampa Real Estate | A Preview of Our 2021 Market Report

We’re excited to announce that we’ve just completed our annual review of the four South Tampa ZIP codes we cover. It’s a ton of work, but we love doing it. 2021’s report has some good and interesting news for sellers. It’ll be hitting your mailbox soon, but today we wanted to give you some highlights.

In 2021, there were 9% more homes sold in the four ZIP codes we cover than in 2020. The median price increased almost 10%, and the average price rose 14%. It took almost half as much time to sell homes last year; they sold 45% faster than in 2020, which is crazy.

If that wasn’t crazy enough, we only have 174 available homes. Back in 2019, that number was 804, which means we saw a 78% decrease. We think that low inventory is going to change this year. We expect to return to our normal seasonality as a lot of homes hit the market from March to June.

We experienced fantastic mortgage interest rates last year; our lowest point was 2.6%. We are already seeing those rates rise this year. We are at 3.5% already, and rates might continue to increase. Keep an eye out for that because as rates increase, affordability will decrease.

Still, we’re excited about this report. Expect it around the first week of February. If you have any questions about the report or real estate in general, feel free to call or email us. We’d love to talk to you.