Sunset Park Market Health Report – February 2025

Market Overview

The real estate market in Sunset Park, Tampa, FL, remains dynamic, offering a range of properties across price points. Currently, 63 homes are actively listed, with 8 pending sales and 29 recently sold properties in the last 6-months.

Key Market Metrics

• Median List Price (Active Homes): $2,400,000
• Median Sold Price: $770,000
• Average Price per Square Foot (Active Listings): $682.23
• Average Price per Square Foot (Sold Homes): $382.79
• Average Days on Market (Active Listings): 119 days
• Median Days to Contract (Sold Homes): 32 days
• Sale-to-List Price Ratio: 0.95 (Homes selling for about 95% of asking price)

How This Market Affects Your Home’s Value

If you're a homeowner in Sunset Park, your property’s value is influenced by:
✔ Rising price per square foot: Homes are currently listing at an average of $682 per square foot, while recently sold homes averaged $382 per square foot, indicating a potential premium on newer or more updated listings.
✔ Strong luxury market: Homes priced above $2M dominate active listings, with the highest-priced home listed at $12M.
✔ Quicker movement in mid-tier homes: Homes in the $600K–$1M range tend to sell faster, with a median of 32 days to contract.

How Long Will It Take to Sell Your Home?

• Median time to contract: 32 days (for recently sold homes)
• Luxury properties ($2M+): Expect 86+ days on the market, with some listings extending beyond 6 months.
• Homes priced under $1M: Typically move faster, especially if updated and competitively priced.

Seller Tips for a Faster Sale

🏡 Price It Right – Homes selling in 32 days or less are priced competitively, while overpricing leads to longer market times.
📸 Showcase Your Home with Professional Marketing – High-end homes require professional photography, virtual tours, and expert exposure.
🔧 Make Key Upgrades – Properties with modern kitchens, updated bathrooms, and curb appeal sell more quickly and command higher prices.

Buyer Insights

• More inventory means more choices: With 63 active listings, buyers have options, especially in the luxury sector.
• Mid-priced homes ($600K–$1M) offer better value: These properties are selling close to asking price, making them an attractive investment.
• Negotiation is possible: Homes are selling at 95% of list price, meaning buyers have room for strategic offers.

Conclusion

Sunset Park remains a strong yet balanced market, with high-value listings and steady buyer demand.

• For sellers, pricing and presentation are key to selling within 30–60 days.
• For buyers, competitive pricing and market insight can secure a great deal.