Smith & Associates Real Estate | Tampa Bay Market Report - December 2021

MARKET REPORT

TAMPA BAY | DECEMBER 2021

SMITH & ASSOCIATES REAL ESTATE TAMPA BAY MARKET REPORT

SMITH & ASSOCIATES REAL ESTATE KNOWS THE MARKET Tampa Bay’s luxury real estate market shows no signs of slowing down, according to Zillow, which lists Tampa Bay as the top-ranked market of 2021. Zillow analysis also reports that home values nationally are expected to grow 14.3% and for Tampa Bay 24.6% in 2022. Additionally, luxury sales are on the rise, with the steady stream of people relocating to the Bay area from high tax states. The traditional entry price point of $1 million for what is considered “luxury real estate” has steadily trended at the $3 million range and up. Residential properties sold at the $3 million plus price point have increased 44% compared to the prior year.

Smith associates are deeply embedded in the Tampa Bay community. Our associates set us apart - their in-depth market knowledge, commitment to integrity, and responsiveness to client needs are a symbol of their dedication.

Our associates review local market insights daily and put the data to work for you when crafting a marketing strategy for your home. This comprehensive strategy ensures that your property is exposed to the most interested parties, providing the successful sale of your property.

Cover Image: SOLD | CLEARWATER | LAST LISTED AT $7,500,000

SMITHISHOME.COM

SOLD | BAYSHORE BEAUTIFUL | REAL LAST ESTATE LISTED AT $5,295,000 SMITH & ASSOCIATES TAMPA BAY MARKET REPORT

SMITHISHOME.COM

PENDRY RESIDENCES TAMPA | PENDRYRESIDENCESTAMPA.COM

SMITH & ASSOCIATES REAL ESTATE TAMPA BAY MARKET REPORT

LOCAL MARKET INSIGHT

HILLSBOROUGH COUNTY | DECEMBER 2021 1,693

New Listings

Median Sold Price

New Pendings

2,278

Closed Sales

2,467

$349,990

Active Listings

1,277

Avg DOM

Copyright © 2022 MarketStats by ShowingTime. All Rights Reserved.

Data Source: Stellar MLS. Statistics calculated January 10, 2022.

SMITHISHOME.COM

17

Avg Sold to OLP Ratio

99.8%

SMITH & ASSOCIATES REAL ESTATE TAMPA BAY MARKET REPORT

LOCAL MARKET INSIGHT

PINELLAS COUNTY | DECEMBER 2021 1,610

New Listings

Median Sold Price

New Pendings

1,970

Closed Sales

2,133

$349,900

Active Listings

1,348

Avg DOM

Copyright © 2022 MarketStats by ShowingTime. All Rights Reserved.

Data Source: Stellar MLS. Statistics calculated January 10, 2022.

SMITHISHOME.COM

21

Avg Sold to OLP Ratio

98.2%

SOLD | OLD NORTHEAST | LAST LISTED AT $2,100,000

SMITH & ASSOCIATES REAL ESTATE TAMPA BAY MARKET REPORT

SOLD | AVILA | LAST LISTED AT $2,395,000

SMITH & ASSOCIATES REAL ESTATE TAMPA BAY MARKET REPORT

OUR NUMBERS

SMITH & ASSOCIATES REAL ESTATE

$2.1 BILLION 2021 Company Sales Volume

513

$1.96M

10.7%

$1M+ Transactions

Average Sales Price $1M+

Market Share for Homes $1M+

2,930

97%

32

Total Transactions in 2021

List to Sold Price

Average Days on Market

53

280

6

40

Years in Tampa Bay

Associates

Tampa Bay Offices

Dedicated Support Staff

SMITHISHOME.COM

2021 Company Data

OFFICES TAMPA 3801 Bay to Bay Boulevard Tampa, FL 33629 813.839.3800 ST. PETERSBURG 1100 4th Street N Suite 200 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 TREASURE ISLAND & SOUTHERN BEACHES 9641 Gulf Boulevard Treasure Island, FL 33706 727.440.9600 MAYFAIR INTERNATIONAL REALTY 15 Thayer St, Marylebone London, UK smithishome.com

Our Global Partners