South Tampa Market Health Report – February 2025

If you own a home in South Tampa, understanding the current market trends is key to determining its value and how long it might take to sell. Based on the latest StellarMLS data, here’s what you need to know:

Current Market Overview

• Active Listings: 708 homes are currently on the market.
• Pending Sales: 208 homes are under contract.
• Recently Sold (6-Months): 805 homes have closed.

Home Values & Pricing Trends

• Median List Price: $800,000
• Median Sale Price: $775,000
• Average Price Per Sq. Ft.: $436.22
• Median Price Per Sq. Ft.: $393.17

This data suggests that homes in South Tampa are selling slightly below their asking prices, with a Sale-to-List Price Ratio of 97%. This means sellers are achieving close to their asking price, though minor negotiations are common.

How Long Will It Take to Sell?

• Median Days to Contract: 37 days
• Median Days to Close: 75 days
• Average Days on Market: 58 days

If your home is well-priced and marketed effectively, it could go under contract in just over a month and fully close in about 2.5-3 months.

Luxury & High-End Market

• The highest sale price in recent months reached $9.175 million, while the most expensive active listing is currently $19.5 million.
• High-end properties typically have a longer market time, with some listings exceeding 1,000 days on market.

What This Means for Homeowners

• Sellers: The market remains strong, with homes selling relatively quickly at competitive prices. Pricing your home correctly is crucial to securing a buyer within a reasonable timeframe.
• Buyers: There is a healthy selection of inventory, meaning you may have some room to negotiate, but well-priced homes are moving fast.

If you’re thinking of selling or want an expert opinion on your home’s value, let’s connect for a personalized market analysis.