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Market Trend in Tampa/St. Petersburg

If you’re thinking of buying or selling a home in the Tampa/St. Petersburg area, it’s a good idea to get a feel for the current state of the market as you start your search or start thinking about asking prices.
The Tampa/St. Petersburg area is actually one of the best places to purchase a home for first-time homeowners —second only to Pittsburgh. Tampa and St. Petersburg are both large, popular cities. The population, as it stands right now, is nearly 3 million residents, which means (as a homeowner) you’ll always have prospective sellers in the future.

On the other hand, if you’re looking to buy a home in the area, the median price for homes in the Tampa area hovers around $209,000, which comes out to roughly $140 per square foot. The rate has increased by almost 15% year over year. The homes in the Tampa area are a little smaller than 1500 square feet, and the average number of rooms for houses this size is three bedrooms.
If you’re interested in moving closer to Tampa, but you’re not interested in living in Florida’s capital, St. Petersburg might be a viable option for you to consider. The median pricing for homes in St. Petersburg is around $177,000. That comes out to roughly $147 per square foot.

The Neighborhood

Something else to consider when buying or selling a home is the overall state of the neighborhood where the house is located. In the Tampa/St. Petersburg area, the average income is a little more than $45,000. Unemployment in the area is at just 5.3%, while job growth is on the rise at 2.7% from 2014. Nearly 30% of the residents are college educated. The employment rate and financial stability in the area indicate that Tampa, St. Petersburg and the surrounding cities are perfect places to buy or sell a home.

If you want to sell your home, it’s best to look up a knowledgeable real estate agent who can help you navigate the Tampa/St. Petersburg area. Not only will you be more privy to specific neighborhood pricing, employment rates and the job growth rates of the area, but you’ll also gain access to valuable information like which neighborhoods have the lowest crime rates, which are closest to the best schools and more.

If you’re looking to sell your home, reaching out to a real estate agent is one of the best things you could do to ensure that the home-selling process runs smoothly. A real estate agent can help you get the most money from selling your home by performing a comparative market analysis, using stats similar to the ones shown above, but using houses in your particular neighborhood to get more accurate rates.

Contact real estate agent Brittany Turner for more information about the current market conditions in the Tampa/St. Petersburg Area. She’s been in the business for many years and knows how to help you while you’re buying or selling a home. You can contact Brittany any time via email at brittany@brittanyturner.com.