Is Tampa A Buyers Or Sellers Market?
If you’re asking this question, chances are you have at least a little experience in real estate investing. Maybe you don’t have any real world experience, but you’re thinking of getting into the real estate game in Tampa. Perhaps you are just a prospecting homebuyer doing some thorough research on the area you are planning on moving into. Whatever the case, you’re curious to find out the answer!
This question, however, is not one that can be so simply answered; there isn’t any single factor to be looked at that will determine whether a city is a buyers or seller's market. With this in mind, we’ll briefly break down the most crucial factors in determining whether it’s a buyers or seller's market, and then you decide!
The first two factors you should consider are how long houses stay on the market, and how much the price is reduced before the sale. In the city of Tampa, most houses sell in about two months, with an average price reduction of 3% overall. This is fairly short when compared to other similarly highly populated cities, causing Tampa to lean towards a seller's market in this category.
Next, consider property values. In the past year, Tampa’s average property values have risen by 3.9%, and are predicted to rise more for in the coming year. This contributes to higher overall home values, and greater demand for housing, giving more leverage to sellers. Taking this into consideration, Tampa’s real estate market leans solidly towards a seller's market in this category.
If you would like to buy property in this sunny southern town, why not contact one of the top real estate agents in Tampa FL? These real estate professionals will help you find the listing that’s right for you, at the lowest price possible!
Popular Real Estate Questions
Popular Real Estate Glossary Terms
The definition of a census-designated place or CDP is rather complex and difficult to understand. We are going to try to explain it as much as possible. Starting from the top and working ...
Characterized by a low volume of real estate sale transactions. ...
Mutually binding property sales contract where the title remains with the seller until the purchase price is paid by the buyer. It is a contract to convey title in the future upon ...
Funds put up by venture capitalists to finance a new business. Often, involves a loan or investment in preferred stock or convertible bonds. A major purpose of seed money is to form a basis ...
Rights allowing an insurer to act against a negligent third party to receive reimbursement for payments made to an insured. ...
The lessee becomes a lessor by subletting the property to a third party. Typically, the sandwich leaseholder does not own or use the property. ...
Sheet metal, often made of aluminum, used to cover a structure's open masonry or wood joints. The purpose of flashing is to prevent the penetration of water as well as to provide a drainage ...
The definition of acquisition cost in real estate is the total cost recorded by a company or individual pertinent to the purchasing of a property. This is the entire amount written down in ...
Process by which a lessee leases the property to another lessee. ...
Have a question or comment?
We're here to help.