DECEMBER Home of the CLHMS
TM
TAMPA F LO RI D A www.LuxuryHomeMarketing.com
2023
TAMPA
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | NOVEMBER 2023 Inventory
Sales
Luxury Benchmark Price 1: $525,000 $4,000,000+ $3,000,000 - $3,999,999
Total Sales: 323
20
7
$2,000,000 - $2,999,999
$1,500,000 - $1,999,999
167
39 88
18
$800,000 - $899,999
89
25
$750,000 - $799,999
76
25
$700,000 - $749,999
74
19
$650,000 - $699,999
129
41
$600,000 - $649,999
117
41
$580,000 - $599,999
99
22 87
13
$540,000 - $559,999
1
Total Sales Ratio2: 24%
94
14
$900,000 - $999,999
$525,000 - $539,999
Seller's Market
75
16
$1,000,000 - $1,499,999
$560,000 - $579,999
Total Inventory: 1,330
31
1
93
25
91
17
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
$622,450
3
2
36
233
15%
2,000 - 2,999
$633,750
4
3
128
547
23%
3,000 - 3,999
$798,745
5
4
120
363
33%
4,000 - 4,999
$1,198,000
5
4
24
103
23%
5,000 - 5,999
$2,102,500
5
6
10
49
20%
6,000+
$2,550,000
6
7
4
35
11%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
TAMPA
SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 Median Sales Price
$698,497
$683,937
1,291
1,218
$725,000
1,110
$700,000
$710,000
1,011
1,019
288
307
257
314
Nov-22
Dec-22
Jan-23
Feb-23
Inventory
$695,000
$700,000
1,087
1,139
419
374
Mar-23
Apr-23
Solds
$715,000
$725,075
1,125
1,193
513
532
May-23
Jun-23
$698,000
$694,988
$694,900
$700,000
1,198
1,287
1,331
1,330
471
410
355
323
Aug-23
Sep-23
Oct-23
Nov-23
432
Jul-23
MEDIAN DATA REVIEW | NOVEMBER TOTAL INVENTORY Nov. 2022
Nov. 2023
1,291
1,330 VARIANCE: 3 %
SALE PRICE PER SQFT. Nov. 2022
Nov. 2023
254
$
264 VARIANCE: 4 % $
TOTAL SOLDS Nov. 2022
Nov. 2023
288
323 VARIANCE: 12 %
SALE TO LIST PRICE RATIO Nov. 2022
Nov. 2023
98.82% 98.41% VARIANCE: 0 %
SALES PRICE Nov. 2022
Nov. 2023
684k
$
$
700k VARIANCE: 2 %
DAYS ON MARKET Nov. 2022
Nov. 2023
22
23 VARIANCE: 5 %
TAMPA MARKET SUMMARY | NOVEMBER 2023 • The Tampa single-family luxury market is a Seller's Market with a 24% Sales Ratio. • Homes sold for a median of 98.41% of list price in November 2023. • The most active price band is $600,000-$649,999, where the sales ratio is 35%. • The median luxury sales price for single-family homes is $700,000. • The median days on market for November 2023 was 23 days, up from 22 in November 2022.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
TAMPA
ATTACHED HOMES
LUXURY INVENTORY VS. SALES | NOVEMBER 2023 Inventory
Sales
Luxury Benchmark Price 1: $500,000 $2,000,000+ $1,750,000 - $1,999,999 $1,500,000 - $1,749,999
11
0
$1,050,000 - $1,199,999
0
33
3 23
4 16
3
$700,000 - $749,999
8
1
10 10
2
26
2
$550,000 - $599,999
$500,000 - $524,999
Total Sales Ratio2: 17%
7
2
$750,000 - $799,999
$525,000 - $549,999
Balanced Market
9
$800,000 - $899,999
$600,000 - $649,999
Total Sales: 46
9
3
$900,000 - $1,049,999
$650,000 - $699,999
Total Inventory: 271
10
0
$1,350,000 - $1,499,999 $1,200,000 - $1,349,999
55
2
16
8
26
4 5
10
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,499
$582,500
2
2
13
44
30%
1,500 - 1,999
$725,000
2
2
15
68
22%
2,000 - 2,499
$687,000
3
3
10
87
11%
2,500 - 2,999
$695,000
4
4
3
42
7%
3,000 - 3,499
$1,385,000
3
4
3
16
19%
3,500+
$3,662,500
5
5
2
14
14%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
TAMPA
ATTACHED HOMES
13 - MONTH LUXURY MARKET TREND 4 Sale Price
Inventory
Solds
$1,326,735
$650,000
195
198
182 78
Nov-22
$700,000
$702,500
$782,500
53
45
48
Dec-22
Jan-23
Feb-23
$775,000
70
62
Mar-23
Apr-23
$680,000
97
May-23
$770,000
236
220
204
199
180
171
$697,500
79
Jun-23
51 Jul-23
$735,000
$695,000
$734,320
$719,998
255
257
254
271
87
Aug-23
53
44
46
Sep-23
Oct-23
Nov-23
MEDIAN DATA REVIEW | NOVEMBER TOTAL INVENTORY Nov. 2022
Nov. 2023
195
TOTAL SOLDS Nov. 2022
Nov. 2023
271 VARIANCE: 39 %
46 VARIANCE: -41 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
Nov. 2022
Nov. 2023
618
410 VARIANCE: -34 %
$
$
78
Nov. 2022
Nov. 2023
100.00% 96.64% VARIANCE: -3 %
SALES PRICE Nov. 2022
Nov. 2023
1.33m
$
$
720k VARIANCE: -46 % DAYS ON MARKET
Nov. 2022
Nov. 2023
0
35 VARIANCE: N/A
TAMPA MARKET SUMMARY | NOVEMBER 2023 • The Tampa attached luxury market is a Balanced Market with a 17% Sales Ratio. • Homes sold for a median of 96.64% of list price in November 2023. • The most active price band is $700,000-$749,999, where the sales ratio is 80%. • The median luxury sales price for attached homes is $719,998. • The median days on market for November 2023 was 35 days, up from 0 in November 2022.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3