MARKET REPORT TAMPA BAY | FEBRUARY 2024
SMITH & ASSOCIATES REAL ESTATE KNOWS THE MARKET
Closings had unprecedented growth in February, with Hillsborough and Pinellas averaging 25% more closings than in January. Tampa Bay continues to experience a 5-year high in active listings, giving prospective home shoppers plenty of opportunities to find the home of their dreams.
The median sales price for homes in Tampa Bay recorded a healthy uptick, rising by 5.3% in Hillsborough and 4.5% in Pinellas County compared to last year. This suggests there continues to be a high demand for residential property across the region.
Smith is proud to contribute to the market with its top-tier housing portfolio of new construction singlefamily and townhome projects, as well as our exclusively listed tower residences coming to the Bay Area.
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.
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SIGNATURE COLLECTION LISTING
401 COFFEE POT RIVIERA NE | SNELL ISLE | $3,650,000
SMITH & ASSOCIATES REAL ESTATE TAMPA BAY MARKET REPORT SMITHISHOME.COM
SIGNATURE COLLECTION LISTING 2927 W HAWTHORNE ROAD | BAYSHORE BEAUTIFUL | $3,475,000
SMITH & ASSOCIATES REAL ESTATE TAMPA BAY MARKET REPORT SMITHISHOME.COM New Listings Active Listings Avg DOM Avg Sold to OLP Ratio New Pendings Closed Sales 2,066 4,333 54 94.9% 2,001 1,512 LOCAL MARKET INSIGHT HILLSBOROUGH COUNTY | FEBRUARY 2024 Copyright © 2023 MarketStats by ShowingTime. All Rights Reserved. Data Source: Stellar MLS. Statistics calculated March 08, 2024. Median Sold Price $395,000
SIGNATURE COLLECTION LISTING 16211 VILLARREAL DE AVILA | AVILA | $3,700,000
SMITH & ASSOCIATES REAL ESTATE TAMPA BAY MARKET REPORT SMITHISHOME.COM New Listings Active Listings Avg DOM Median Sold Price Avg Sold to OLP Ratio New Pendings Closed Sales 2,079 5,486 53 $399,000 93.2% 1,883 1,256 LOCAL MARKET INSIGHT PINELLAS COUNTY | FEBRUARY 2024 Copyright © 2023 MarketStats by ShowingTime. All Rights Reserved. Data Source: Stellar MLS. Statistics calculated March 08, 2024.
SIGNATURE COLLECTION LISTING 1039 ROYAL PASS ROAD | HARBOUR ISLAND | $2,850,000
2,276
SMITH & ASSOCIATES REAL ESTATE TAMPA BAY MARKET REPORT SMITHISHOME.COM
NUMBERS SMITH & ASSOCIATES REAL ESTATE
2023
Total Transactions $1.09M Average Sales Price 36 Average Days on Market
$1M+ Transactions $1.95M Average Sales Price $1M+ 14.6% Market Share for Homes $1M+ 292 Associates $8.42M Average Agent Production 5 Tampa Bay Offices
Years in Tampa Bay 2023 Company Data
731
55
Construction progressed at a steady pace during the first three months of the year at Pendry Residences Tampa. Crews are hard at work with the important steps for laying the foundation of this elevated expression of living on the city’s Riverwalk.
PENDRY RESIDENCES TAMPA | PENDRYRESIDENCESTAMPA.COM
OFFICES
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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