Is Tampa A Buyers Or Sellers Market?
If you’re asking this question, chances are you have at least a little experience in real estate investing. Maybe you don’t have any real world experience, but you’re thinking of getting into the real estate game in Tampa. Perhaps you are just a prospecting homebuyer doing some thorough research on the area you are planning on moving into. Whatever the case, you’re curious to find out the answer!
This question, however, is not one that can be so simply answered; there isn’t any single factor to be looked at that will determine whether a city is a buyers or seller's market. With this in mind, we’ll briefly break down the most crucial factors in determining whether it’s a buyers or seller's market, and then you decide!
The first two factors you should consider are how long houses stay on the market, and how much the price is reduced before the sale. In the city of Tampa, most houses sell in about two months, with an average price reduction of 3% overall. This is fairly short when compared to other similarly highly populated cities, causing Tampa to lean towards a seller's market in this category.
Next, consider property values. In the past year, Tampa’s average property values have risen by 3.9%, and are predicted to rise more for in the coming year. This contributes to higher overall home values, and greater demand for housing, giving more leverage to sellers. Taking this into consideration, Tampa’s real estate market leans solidly towards a seller's market in this category.
If you would like to buy property in this sunny southern town, why not contact one of the top real estate agents in Tampa FL? These real estate professionals will help you find the listing that’s right for you, at the lowest price possible!
Popular Real Estate Questions
Popular Real Estate Glossary Terms
(1) Temporary and symbolic payment showing good faith and obligating two or more individuals until a final transaction takes place. The binder is typically returned if the final agreement ...
Direct line of descent as from father to son. An example of a lineal hereditament would be passing of the title of real property by virtue of a will to the first-born son. ...
Any of a number of types of covenants agreeing to do or not to do something that is attached to the title and is passed form one owner to the next. See also covenant running with the land. ...
Unable to sell an investment to obtain cash in the short-term without incurring A significant loss. Real Estate is typically not liquid because of the inability to sell property to raise ...
Opening in the wall of a structure to let in air and light. ...
Span of time a rental agreement is free to the occupant. A landlord may offer this as an incentive to stimulate rentals. For example, an owner of an office building may provide a free ...
Costs taken over an above what one is entitled to. This can occur either by claiming depreciation costs exceeding actual depreciable value or by depreciating items that cannot be ...
Charge by the lender to keep credit available to the potential borrower. Once the loan is made, interest is charged on the amount borrowed. Real estate businesses often need money available ...
Local government ordinances governing real estate development including structural and design aspects. Zoning ordinances usually define various usage classifications ranging from ...
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