Staying informed about the latest real estate trends is essential for buyers, sellers, and investors alike. Here’s a comprehensive look at the current market activity across five of Tampa Bay’s most sought-after neighborhoods: South Tampa, North Tampa, The Heights, Odessa, and Lutz. Below, you’ll find the latest statistics in bullet points followed by detailed market insights for each area.
South Tampa
Key Stats:
· New listings: 41
· New pendings: 26
· Median list price (last 7 days): $950,000
· Homes sold (last 7 days): 31
· Median sale price (last 7 days): $660,000
· Average days on market (sold, last 7 days): 41
· Total inventory: 738
Market Insights:
South Tampa continues to be one of the most desirable areas in the city, reflected in its high median list price of $950,000. While there were 41 new listings this week, the number of new pending sales (26) suggests steady buyer interest but also signals a competitive landscape for sellers. The median sale price of $660,000 is notably lower than the median list price, indicating that buyers may be negotiating deals below asking or that higher-priced homes are lingering on the market. With an average of 41 days on market and a robust inventory of 738 homes, buyers have options but should be prepared to act quickly on well-priced properties.
North Tampa
Key Stats:
· New listings: 51
· New pendings: 45
· Median list price (last 7 days): $449,900
· Homes sold (last 7 days): 52
· Median sale price (last 7 days): $503,004
· Average days on market (sold, last 7 days): 35
· Total inventory: 454
Market Insights:
North Tampa is experiencing brisk activity, with 51 new listings and 45 new pendings, nearly matching the number of homes sold (52) in the past week. The median sale price of $503,004 exceeds the median list price, suggesting strong demand and the possibility of multiple-offer situations driving prices above asking. Homes are moving quickly, averaging just 35 days on the market. With a total inventory of 454, the market remains active and competitive, making it an attractive area for both buyers seeking value and sellers looking for quick transactions.
The Heights
Key Stats:
· New listings: 18
· New pendings: 4
· Median list price (last 7 days): $537,000
· Homes sold (last 7 days): 9
· Median sale price (last 7 days): $605,000
· Average days on market: 88
· Total inventory: 149
Market Insights:
The Heights presents a unique dynamic with a smaller pool of new listings (18) and only 4 new pendings, indicating a slower pace of new contracts. However, the median sale price of $605,000 is significantly higher than the median list price, pointing to strong buyer demand for select properties. The average days on market is notably high at 88, suggesting that while some homes sell quickly and above list, others may take longer to find the right buyer. With a total inventory of 149, buyers have choices, but standout properties are commanding premium prices.
Odessa
Key Stats:
· New listings: 19
· New pendings: 9
· Median list price (last 7 days): $700,000
· Homes sold (last 7 days): 19
· Median sale price (last 7 days): $740,000
· Average days on market: 36
· Total inventory: 196
Market Insights:
Odessa’s market remains steady, with 19 new listings and an equal number of homes sold in the past week. The median sale price of $740,000 outpaces the median list price, indicating that well-presented homes are attracting competitive offers. With an average of 36 days on market, properties are moving at a healthy pace. The total inventory of 196 homes provides a balanced environment for buyers and sellers, making Odessa a solid choice for those seeking upscale suburban living.
Lutz
Key Stats:
· New listings: 34
· New pendings: 17
· Median list price (last 7 days): $622,450
· Homes sold (last 7 days): 39
· Median sale price (last 7 days): $610,000
· Average days on market: 38
· Total inventory: 285
Market Insights:
Lutz continues to attract both buyers and sellers, with 34 new listings and 39 homes sold this past week. The median sale price of $610,000 is closely aligned with the median list price, suggesting a balanced market where homes are generally selling at or near asking price. The average days on market stands at 38, reflecting strong buyer activity and efficient sales. With 285 homes currently available, Lutz offers a range of options for families and professionals seeking a blend of suburban comfort and accessibility.
Conclusion
Tampa Bay’s real estate market remains dynamic, with each neighborhood offering unique opportunities and trends. Whether you’re looking to buy, sell, or invest, understanding these local market insights can help you make informed decisions. For personalized advice or to schedule a viewing, contact our team today!
