November Market Report

The Tampa market is hot right now. We are seeing inventory levels rise slightly and this is likely from new construction developments finishing before the end of the year. 

With inventory down -55% YoY at 1 month of supply its unlikely things will slow any time soon. While we hope there will be a leveling off of inventory towards the start of the new year its hard to say as we are at historic lows. It’s a great time to be a seller but its going to be a rough ride for buyers. Hang in there the market wont always be like this, but regardless if you decide to sit thing out until the market cools off you will likely be paying another 15-20%+ if you jump back in this time next year. Even if all the potential 2021 forberance properties hit the market all at once, we still wouldn’t have enough inventory to shirt into a buyers market.

Average days on market (DOM) is down to 21 days for Tampa, but most well priced properties take contracts in a week or less. The market is still moving at a tremendous pace in Tampa, as we see people from high tax states moving to Florida specifically Tampa and the bay area as some reports have as much as 1,000 people moving here per day. As we move into Q1 of 2022 we expect growth to continue and sellers to maintain the upper hand.