Questioning how a lot your private home is valued at in Tampa’s ever-shifting actual property market? Whether or not you’re gearing as much as promote, eager to eliminate PMI, or simply keeping track of present house values in Tampa, understanding how a lot your private home is price can successfully information your subsequent monetary choices.
On this article, we’ll discover present house value tendencies within the Huge Guava, share suggestions for precisely estimating your property’s worth, and recommend easy-to-achieve strategies for enhancing your private home’s worth earlier than itemizing. We’ll additionally stroll you thru helpful instruments that may assist maximize the worth of your Tampa house everytime you’re able to promote.
Editor’s observe: This submit is for academic functions and isn’t meant to be construed as monetary recommendation. HomeLight at all times encourages you to seek the advice of your individual advisor.
Present house values in Tampa
For the reason that summer season of 2021, median house values within the Tampa metropolitan space have climbed by 31%. In June 2021, for instance, the standard Tampa house bought for $129,777, whereas within the June 2024 market, houses have been promoting for $170,000, in response to Better Tampa Realtors.
Nevertheless, Tampa house costs are rising at a slower fee than the USA as a complete — the truth is, studies present that it’s coming into a cooling market.
“The Tampa market is definitely cooling down right now,” stated itemizing agent Heather Espinosa in a latest story by ABC Motion Information Tampa Bay. “Right now, we have 15 properties on the market, and before the phone would ring, ring, and ring. Now, I’m calling the seller letting them know it’s slow.”
Kenneth Jones, Realtor with eXp Realty, added, “The inventory has risen, the days on the market has increased for sure, and the ability to be a little bit more creative with putting deals together is definitely there for the buyer.”
The desk beneath illustrates precisely how a lot house costs have elevated within the Tampa-St. Petersburg-Clearwater metro space over the past 4 years:
| 12 months | Median house value | P.c change year-over-year |
| 2024 (June) | $170,000 | +3.0% |
| 2023 | $165,000 | -2.3% |
| 2022 | $169,000 | +30.2% |
| 2021 | $129,777 | +44.2% |
Supply: Tampa Realtors
Home value will increase, nonetheless, usually are not distinctive to the Huge Guava market; they’re changing into an increasing number of frequent on a nationwide scale. In keeping with the info from the S&P CoreLogic Case-Shiller Nationwide Dwelling Value Index, house costs throughout the USA have surged by over 50% because the begin of 2020.
With this dramatic improve, householders throughout the nation have seen important good points of their fairness, which they’ll faucet into for varied monetary objectives similar to house enhancements, debt funds, investments, and even retirement financial savings. As of early 2024, ICE’s Mortgage Monitor reported that the common mortgage-holding home-owner within the U.S. holds $299,000 in fairness.
For comparability, the desk beneath reveals median house costs in cities close to Tampa:
| Metropolis | Median house value | Distance from Tampa |
|---|---|---|
| Citrus Park | $419,800 | 18-26 min (15.8 miles) |
| Land O’Lakes | $452,700 | 22-40 min (19.3 miles) |
| Westchase | $521,900 | 22-35 min (16.5 miles) |
| Valrico | $407,100 | 24-40 min (16.4 miles) |
| Wesley Chapel | $423,700 | 22-35 min (23.7 miles) |
| Oldsmar | $382,000 | 24-45 min (16.1 miles) |
| Palm Harbor | $443,800 | 25-70 min (23.3 miles) |
Dwelling worth averages of a number of public transaction websites
Typical journey instances 8 a.m. midweek
Up subsequent, we’ll discover precisely how you can estimate the worth of your Tampa house in relation to the native market.
