Is South Tampa, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, South Tampa has remained a Seller's Market.
Key Takeaway
South Tampa is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Tampa, FL
How much do homes in South Tampa, FL cost?
Median Sold Price
$663,341
$368/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in South Tampa have sold for 7% more than they did a year ago.
Summary: The median home sold price in South Tampa was $663,341 in May 2024, up 7% from last year, and the median price per square foot was $368.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $229K | $232.9K | +1.7% |
| 2 Bedrooms | $388.7K | $362.3K | -6.8% |
| 3 Bedrooms | $557K | $607.9K | +9.1% |
| 4 Bedrooms | $875K | $903K | +3.2% |
| 5+ Bedrooms | $1.6M | $1.9M | +22.9% |
Summary: South Tampa housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.7%, 2 bedroom homes decreased by 6.8%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 22.9%.
Median Sold Price Compared To Nearby Neighborhoods
| Bel Mar Shores | $687.5K | $1.4M | +103.6% |
| Fair Oaks / Manhattan Manor | $292.5K | $322K | +10.1% |
| South Tampa | $619.7K | $663.3K | +7.0% |
| Bayside West | $375K | $388.2K | +3.5% |
| Bel Mar Gardens | $1.1M | $950K | -19.1% |
Housing Supply in South Tampa, FL
How many homes are available in South Tampa, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 820 | 891 | +8.7% |
Summary: The South Tampa real estate market had 891 homes for sale in May 2024, a 8.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 63 | 75 | +19.0% |
| 2 Bedrooms | 127 | 144 | +13.4% |
| 3 Bedrooms | 295 | 321 | +8.8% |
| 4 Bedrooms | 207 | 208 | 0.5% |
| 5+ Bedrooms | 128 | 143 | +11.7% |
Summary: The South Tampa housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 19%, 2 bedroom homes increased by 13.4%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes increased by 11.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 133 | 198 | +48.9% |
Asking Price vs. Sold Price
110 Homes Were Sold
Under Asking
54 Homes Were Sold
At Asking
34 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Tampa, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 198 homes were sold or pending in South Tampa in May 2024, up by 48.9% month-over-month. Of the 198 sold homes, 56% were sold under asking, 27% were sold at asking, and 17% were sold over asking.
Days on Market for South Tampa, FL
How long does it take to sell a home in South Tampa, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 29 Days | 37 Days | +25.8% |
Summary: Homes in South Tampa had an average of 37 days on market in May 2024, up by 25.8% compared to last year.
Breakdown of Home Sale Times
126 Homes Were Sold
Under 30 Days
51 Homes Were Sold
In 30 - 90 Days
21 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Tampa are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 198 homes were sold in South Tampa; 64% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
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