Your Tampa Area Real Estate Market Update

By Andrew Duncan

Andrew Duncan is the Founder, CEO and Co-Owner of Tampa’s Best Real Estate Agent Team, The Duncan Duo, the Host of The Duncan Duo Real Estate Show Sundays at 10am on 970AM WFLA. As the team’s Founder, CEO & Co-Owner, Andrew’s focus is on the growth of the company, marketing and promotion initiatives as well as motivating and coaching the team’s agents and leadership.

The June numbers are in for our real estate market, so today we’ll be going over the changes we’re seeing and what they mean for you.

There have been rumors going around that the market is softening, but here’s what the statistics say. We had 0.7 months’ worth of inventory, meaning it’d only take three weeks for all the current homes to sell if no other ones came on the market. During this time last year, we had around 6,700 active listings; now, that number has dropped to a mere 2,641.

“If these statistics are any indicator, our market is definitely not softening.”

On average, homes are spending 23 days on the market before going under contract—many are going much quicker, however. The average sales price is around $375,863; last year, it was around $322,000. That’s a 17% increase in just one year. Additionally, 3,979 homes sold in June, which is the most monthly sales we’ve seen since July 2020. The sale-to-list-price ratio is currently 101% meaning everything is selling for above asking price. That’s never happened in Tampa before.

If these statistics are any indicator, our market is definitely not softening—in fact, it’s looking like it’ll stay incredibly strong throughout the rest of 2021. If you’re a buyer, go into the market expecting to pay above asking price. If you’re a seller, find an agent who can get your home sold for above and beyond your list price.

If you have any questions about our market or would like more information, feel free to reach out to me anytime. I look forward to hearing from you soon.