Understanding The Tampa Real Estate Market Trends for July 2024. When considering selling your home, understanding Florida real estate market trends is crucial. This helps in making informed decisions and maximizing your home’s value.
What is the Months Supply of Inventory?
For July the Months Supply of Inventory in Tampa was currently 3.72 months. This figure indicates the time it would take to sell all available homes at the current sales pace. A lower number often points to a seller’s market, where demand exceeds supply.
Median Days on the Market
For July the median number of days homes stay on the market was 23 days. This indicates that homes are selling quickly. Fast sales can be attributed to high demand and competitive pricing.
List to Sold Price Percentage
Another important metric is the List to Sold Price Percentage, which stands at 98%. This percentage shows that, on average, homes are selling for 98% of their listing price. A high percentage like this suggests that sellers are pricing their homes correctly, and buyers are willing to pay nearly the full asking price.
Median Sold Price in Florida
The Median Sold Price for homes is currently $440,000. This figure provides a clear picture of what the average home is selling for in the current market.
Summary of the Market
The data indicates that, although inventory levels have risen over the past year, homes are still selling quickly and at prices close to their listing value. This combination could point to a healthy and active market, ideal for sellers.
Is Now the Right Time to Sell?
If you’re thinking about selling, these Tampa real estate market trends for July 2024 suggest it might be an opportune time. The strong demand and competitive pricing could work in your favor. To navigate these trends effectively, give me a call, text, or email and I can help guide you through the process. I will create a Comparative Market Analysis for your home to show you what homes are selling for in your local Market.
Inventory: Current Months Supply is 3.72.
Quick Sales: Homes stay on the market for just 23 days.
Pricing Power: List to Sold Price Percentage is 98%.
Market Value: Median Sold Price stands at $440,000.
Reach out to me today to explore your options and make the most of the current market. Mike Nacinovich 727.846.3639 MNacinovich@FathomRealty.com