MARKET REPORT
TAMPA BAY | JUNE 2024
SMITH & ASSOCIATES REAL ESTATE KNOWS THE MARKET
Tampa Bay continues to see stability in overall inventory and median home prices.
Both Hillsborough and Pinellas counties experienced a significant drop in new listings and closed sales from May to June 2024. Pinellas saw a 16.8% decrease in new listings and a 16.1% drop in closed sales, while Hillsborough saw decreases of 21.7% and 18.4%, respectively. However, because listings and closings were down at approximately the same levels, this has had a net neutral effect on active listings, with available homes being flat compared to last month. This has helped to keep a balance between active buyers and sellers.
Hillsborough and Pinellas both saw an increase in the median sold price over the past year, with Pinellas County up 6.4% and Hillsborough County up 1.2%. This indicates that despite an overall drop in sales volume, home prices have continued to rise in our market.
Our associates review local market insights daily and put the data to work for you when crafting a marketing strategy for your home sale or purchase. We are grateful for the opportunity to help over 2,200 families buy or sell their homes throughout Tampa Bay each year. Please reach out if we can put our local expertise to work for you.
LOCAL MARKET INSIGHT
HILLSBOROUGH COUNTY | JUNE 2024
LOCAL MARKET INSIGHT PINELLAS COUNTY | JUNE 2024
731
$1M+ Transactions $1.95M Average Sales Price $1M+
14.6% Market Share for Homes $1M+
2,276
Total Transactions $1.09M Average Sales Price
36 Average Days on Market
55 Years in Tampa Bay
292 Associates $8.42M Average Agent Production
5 Tampa Bay Offices
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