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Tampa Real Estate Market Report

Tampa Real Estate Market Report Overview

The latest Tampa real estate market report indicates that home sales market conditions in the Tampa metropolitan area remain soft, with a vacancy rate of 2.4%. According to real estate research firm Metrostudy, approximately 11,300 existing single-family homes were sold during the 4th quarter of 2014, which is an increase of 11% compared with the number of existing single-family homes sold during the 4th quarter of 2013.

During the same period, approximately 1,450 new single-family homes were sold, a decrease of 7% compared with the number of homes sold during the 4th quarter of 2013. The average price of new single-family homes sold during the 4th quarter of 2014 increased by 1% to $279,300. New home sales have decreased and single-family home construction activity has decreased during the past year, as measured by the number of single-family home building permits issued. During 2014, about 7,275 single-family homes were permitted, down 1% from 7,325 during 2013.

The Tampa metropolitan area rental housing market is more soft than balanced. The average overall vacancy rate (based on EMAD estimates) in December 2014 was 8.1%, down from 13.1% in April 2010. Apartments make up 45 percent of the supply of rental housing in the Tampa MSA and had an estimated average vacancy rate of 5.2 percent during the 4th quarter of 2014, down from 5.8 percent a year earlier according to real estate research firm MPF Research. The average apartment asking rent increased by 6% during the past year to approximately $945.

 

Tampa Real Estate Market Snapshot

REAL ESTATE TIMBER PINES · 8099 SUGARBUSH DRIVE · SPRING HILL · FL · 34606 · (352) 777-5537

Tampa Real Estate Market Report Notes

We are the premier Timber Pines real estate agency, due largely to our focus. Because we exclusively represent clients buying homes in Timber Pines, renting homes in Timber Pines and listing Timber Pines home for sale, we just do it better. Our intimate knowledge of the Timber Pines real estate market, our advanced real estate Internet marketing strategies and resources, and the unparalleled service we provide our clients clearly make us the Timber Pines real estate agency that will best represent you.

Part of best representing you is to make sure you have the information and resources you need to make intelligent, well informed real estate decisions. We accomplish this by continually researching and publishing real estate and housing market research reports for the Florida housing market, Tampa housing market, Hernando County housing market and Timber Pines housing market. Read all of our real estate market research, so you have the information you need to make well informed real estate decisions when you need it. Read more of our Housing Market Research or contact us now if you’re ready to get started.

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