MARKET REPORT
TAMPA BAY | MAY 2024
SMITH & ASSOCIATES REAL ESTATE KNOWS THE MARKET
In May, active listings reached a 5-year high, a welcomed development for those currently in the market to purchase a home.
New inventory painted a noticeable difference across the Bay, with new listings in Hillsborough being up 11% compared to last month, while Pinellas saw a 5.3% decrease in new listings.
One interesting piece of data to note is that the Median Sold Prices for both Pinellas & Hillsborough were the same, at $410,000. This is continued growth on both sides of the Bay vs the same time last year, though historically the two sides of the Bay have a bit more variation in terms of median pricing.
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 | MAY 2024
LOCAL MARKET INSIGHT PINELLAS COUNTY | MAY 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
Deep foundation work continues and is expected to be finished this summer. The pile caps are to start in July and continue until October, and the Tower Crane is to be on site and erected in August. The first elevated deck slab placement is anticipated for October.
TAMPA
3801 Bay to Bay Boulevard Tampa, FL 33629
813.839.3800
ST. PETERSBURG
1100 4th Street N
St. Petersburg, FL 33701
727.342.3800
BEACH DRIVE SALES GALLERY
330 Beach Drive NE
St. Petersburg, FL 33701
727.342.3800
COASTAL & NORTHERN BEACHES
14581 Walsingham Road Largo, FL 33774
727.282.1788
WESTCHASE
10714 Countryway Boulevard Tampa, FL 33626
813.570.7777
MAYFAIR INTERNATIONAL REALTY
15 Thayer St, Marylebone London, UK
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