If you’ve been keeping an eye on the Tampa Bay real estate market lately, you’ve probably noticed things look a little different than they did a year or two ago. The days of lightning-fast sales and multiple offers over asking have calmed down, giving way to something we haven’t seen in quite some time – balance.
As a full-time real estate professional helping buyers and sellers across the Tampa Bay area, I’ve seen firsthand how this market shift is creating both new challenges and new opportunities. Let’s take a closer look at what’s really happening out there.
Home Prices and Market Trends
After several years of record-breaking appreciation, home prices in the Tampa Bay area have finally cooled and found a new rhythm. Median prices are now sitting between $410,000 and $430,000, which is roughly 8% to 12% lower than last year, depending on the neighborhood.
Some areas continue to hold strong thanks to their location and demand, while others are seeing prices level off. Homes are also taking longer to sell, averaging about 57 days on the market, nearly twice as long as in 2024.
What does this mean? Sellers need to price strategically and prepare their homes thoughtfully. Buyers, on the other hand, finally have room to breathe, compare options, and negotiate from a stronger position.
Inventory and Buyer Power
One of the biggest shifts this year is inventory. Active listings are up 25% to 36% compared to last fall, a huge relief for buyers who spent years competing over limited homes. With more properties available, buyers can take their time and make more confident decisions.
That said, Tampa’s real estate market still has plenty of demand. Roughly 14% of homes are still selling above asking price, especially in well-priced, move-in-ready homes in desirable areas. So, while the frenzy has cooled, the spark is definitely still there.
Mortgage Rates and Affordability
The good news: mortgage rates have dipped from last year’s highs and now hover around 6% to 6.5%. This drop has encouraged more buyers to re-enter the market. However, higher insurance premiums and property taxes continue to play a role in affordability, particularly for first-time homeowners.
Even with those challenges, Tampa Bay remains one of the most affordable and attractive metro areas in Florida, especially when compared to markets like Miami or the Northeast.
Looking Ahead to 2026
Market experts predict that Tampa’s housing market will remain steady and balanced heading into 2026. We’ll likely see modest price growth, continued job-driven demand, and more relocation activity from out-of-state buyers.
For sellers, this means it’s crucial to stand out through presentation, pricing, and marketing. For buyers, it’s a great time to re-enter the market with confidence, knowing there’s more inventory and less competition than in previous years.
Final Thoughts
The Tampa Bay real estate market has matured into a healthier, more sustainable environment, one where informed decisions matter more than ever. Whether you’re buying your first home, upgrading, investing, or preparing to sell, my goal is to help you navigate this evolving market with clarity, strategy, and peace of mind.
It’s not just about closing deals, it’s about building relationships and changing lives, one home at a time.
If you’re curious about your neighborhood’s current value or what opportunities might be waiting for you, reach out anytime. I’m always here to help.