The Latest Tampa Bay Housing Market Data Is Here

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.

While the national real estate buzz dominates the headlines, Tampa Bay’s market is defying national trends. If you have plans to buy or sell a home in Tampa this year, you need to rely on local market data more than national news. Here’s what the latest figures reveal about our market:

Total sales. Total sales in Tampa Bay dipped in May 2025, with just 4,524 homes sold, which is a sharp 25% drop from the 5,824 sales recorded the previous year. This downward trend continues when compared to May 2023 at 5,631 sales and May 2022 with 5,754 sales. This is driven by a mix of factors, including last year’s hurricane, affordability concerns, and high interest rates.

Average sale price. Tampa Bay’s average home sale price is currently $483,291, covering areas from Tampa to Pinellas and Pasco counties. While this is similar to the average $484,960 price point in June 2022, inflation over the past three years has, as expected, impacted purchasing power. This means that even with steady prices, buyers today may not get as much home for their money.

Asking price. Sellers often find themselves having to give a little more just to get their home off the market. Many are even offering extra perks, like higher-than-usual buyer agent commissions or covering closing costs, just to attract more buyers. On top of that, homes are now selling for about 97% of their asking price. In contrast, in 2022, they were going for 102%. That 5% difference shows buyers have more room to negotiate than they did before.

Inventory. In May 2025, the month’s supply of inventory was 3.14, which is a slight drop from April. This is pointing to a relatively balanced market, but it doesn’t tell the whole story. In some neighborhoods, sellers are still having a tough time getting offers. In fact, a few homeowners have even pulled their listings altogether because today’s pricing just isn’t working for them.

While the data shows a stable average sale price, the actual market is a lot more complex. The month’s supply of inventory suggests balance, but neighborhood conditions still vary widely. I know this can be a lot to take in, so if you’re thinking about buying or selling and are unsure of your next move, feel free to reach out to me. Just email info@theduncanduo.com. I’m here to help.