What's Happening in Our Tampa Bay Market?
We are headed into September 2022, so I wanted to update you on what’s happening with inventory and prices in our Tampa housing market.
First, we are entering a more normal market thanks to inventory increases. We had super low inventory for years, but it has been climbing recently—it has doubled since January and rose by 24% since just last month.
We are still in a seller’s market with only 2.6 months of supply, but that increased inventory means buyers will have more options, making this a great time to purchase a home. For sellers, the average days on market is increasing, so we need to be mindful about pricing. There was one month when the average sales price dipped by 1.7%.
If you have any questions about the market or your specific situation, we’d love to come up with a game plan for you. Just call or email me. I would love to hear from you.