Westchase Market Health Report – February 2025

Current Market Overview

The real estate market in Westchase continues to demonstrate stability with a balanced inventory of active, pending, and sold listings. If you're a homeowner considering selling, understanding the latest market conditions is key to maximizing your home’s value and estimating the time it will take to sell.

Key Market Indicators

• Active Listings: 17 properties currently available

  • Average List Price: $794,635
  • Median List Price: $740,000
  • Average Price per Sq. Ft.: $307.71
  • Median Days on Market: 24 days

• Pending Sales: 8 properties under contract

  • Average Pending Price: $691,675
  • Median Pending Price: $709,450
  • Median Days to Contract: 21 days

• Sold Homes (Past 6 Months): 57 properties closed

  • Average Sale Price: $704,488
  • Median Sale Price: $674,900
  • Average Days to Contract: 43 days
  • Sale-to-List Price Ratio: 97%-98%

What This Means for Homeowners

1. Home Values Are Holding Strong
   The median sale price of $674,900 and an average price per square foot of $312.80 indicate that Westchase properties remain in demand. If you're considering selling, competitive pricing aligned with market trends can yield strong offers.

2. Homes Are Selling Relatively Fast
   The median time to go under contract is 24 days, with most homes closing in around 62 days. Well-priced homes in desirable conditions are moving swiftly, indicating a healthy market for sellers.

3. Strong Negotiation Position
   With a sale-to-list price ratio averaging 97%-98%, sellers are receiving offers close to their asking prices. Properly staged and competitively priced homes can attract buyers willing to pay near or even above the listing price.

Advice for Sellers

• Price Competitively: Homes that align with recent sales data will likely receive offers quickly.
• Prepare Your Home for Market: High-quality presentation, including staging and professional marketing, can help your home stand out.
• Be Strategic About Timing: With a median time of 24 days to contract, planning around your timeline for moving is essential.

If you're thinking about selling your Westchase home, now is a strong time to enter the market.