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Published February 8, 2022
The Current State of Inventory in Our Market
A few highlights from our annual review of the 2021 real estate market.
The past year has been very busy for real estate, though it looks like we’re going to have more seasonality in the market instead of the craziness we saw in 2020 and 2021. We’ve just completed our annual review of the four South Tampa ZIP codes we cover (33609, 33629, 33606 & 33611), and even though they’ll be hitting your mailboxes soon, we’re excited to share some of the results with you a little early.
Here are the highlights from our four ZIP codes in 2021:
9% more homes sold in 2021 compared to 2020
The median home price increased by almost 10%
The average sale price rose by nearly 14%
Properties sold almost 45% faster than they did in 2020
We currently have 174 available properties—a 78% drop compared to 2019
Interest rates ranged from 2.6% to 3.1% in 2021; they’ve already surpassed that point this year, with a current rate of 3.5%
If you’re planning to buy this year, remember that more homes will likely hit the market come April, May, and June. Also, keep an eye on interest rates; when rates increase, home affordability tends to decrease.
If you want up-to-date information about the real estate market or have any questions, don’t hesitate to reach out to us via phone or email. In the meantime, watch for our annual review in the mail!
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