If you are looking at the Tampa real estate for sale, you might be wondering if the local real estate market is up or down. The market in Odessa and the nearby areas has been relatively stable in the last few years, which is great for both buyers and sellers. However, the Tampa area as a whole has recently become a buyers market. Many people are looking to sell their homes and upgrade, giving buyers that are looking to enter the area countless real estate options. Before you start looking at the Tampa real estate for sale, consider which areas might be right for your family. Each neighborhood has its own advantages and disadvantages when it comes to home ownership in the Tampa area.
Odessa is a great place to live, with nearby restaurants, golf courses, and shopping areas. With a median home value of just under $420,000, Odessa is one of the more upscale communities located in the Tampa area. This area is characterized by beautiful single family homes, many of which have attached 2 car garages. A typical Odessa home will have 4 to 6 bedrooms and 3 bathrooms, ensuring that your children will have plenty of space to play. Some smaller properties are available for those looking for a more affordable or lower maintenance option.
The median list price for all homes for sale in Odessa is around $400,000, but the median sale price is just $380,000. This is great news for buyers but does not bode well for those looking to sell their Odessa home. Nearly a quarter of the homes for sale in Odessa have undergone a price cut since they were first listed for sale. Sellers are having a hard time finding a qualified buyer that is interested in paying the asking price.
When calculate on a per square foot basis, this affluent area has a relatively high median list price. The median price per square foot for homes in Odessa is $159. This is an $18 per square foot increase when compared with Tampa real estate for sale as a whole. However, it is definitely possible to find more affordable properties in and around Odessa.
Homeowners will be happy to learn that the real estate market in Odessa has been increasing steadily. In fact, it is up 4.6% since mid 2017. Experts predict that it will increase another 3.7% in the coming year, so do not be afraid that you might not recoup your initial investment. When taken together, all of these factors indicate that now is a great time to purchase a home in Odessa among its real estate options or the surrounding area.
To learn more about the Tampa real estate for sale, contact Poppleton Properties at (813) 833-2520 or email brittany(at)townchase(dotted)com.