Smith & Associates Real Estate | Tampa Bay Market Report - February 2022

MARKET REPORT

TAMPA BAY | FEBRUARY 2022

SMITH & ASSOCIATES REAL ESTATE TAMPA BAY MARKET REPORT

SMITH & ASSOCIATES REAL ESTATE KNOWS THE MARKET According to numerous reports nationwide, Tampa Bay is the top-ranked real estate market of 2021.

Industry reports have discovered that Tampa Bay home values are expected to grow by 24.6% in 2022, surpassing the national expectation of 14.3% growth. With luxury sales rising and a steady stream of relocations from high tax states, Tampa Bay’s real estate market shows no signs of slowing down.

The traditional entry price point for “luxury real estate” used to be considered $1 million but has steadily trended upward to the $3 million range and up. As a result, residential properties sold at the $3 millionplus price point have increased 44% compared to the prior year.

Smith associates are deeply embedded in the Tampa Bay community and highly attuned to the needs of luxury buyers and sellers. Our dedicated associates set us apart with their in-depth market knowledge, commitment to integrity, and responsiveness to client needs.

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 to the most interested parties, providing the successful sale of your property.

Cover Image: SOLD | REDINGTON SHORES | LAST LISTED AT $2,700,000

SMITHISHOME.COM

HYDE PARK HOUSE | HYDEPARKBAYSHORE.COM SMITH & ASSOCIATES REAL ESTATE TAMPA BAY MARKET REPORT

SMITHISHOME.COM

SOLD | BAYSHORE BEAUTIFUL | LAST LISTED AT $2,850,000

SMITH & ASSOCIATES REAL ESTATE TAMPA BAY MARKET REPORT

LOCAL MARKET INSIGHT

HILLSBOROUGH COUNTY | FEBRUARY 2022 2,018

New Listings

Median Sold Price

New Pendings

2,429

Closed Sales

1,925

$367,500

Active Listings

1,013

Avg DOM

Copyright © 2022 MarketStats by ShowingTime. All Rights Reserved.

Data Source: Stellar MLS. Statistics calculated March 08, 2022.

SMITHISHOME.COM

20

Avg Sold to OLP Ratio

100.8%

SMITH & ASSOCIATES REAL ESTATE TAMPA BAY MARKET REPORT

LOCAL MARKET INSIGHT

PINELLAS COUNTY | FEBRUARY 2022 1,899

New Listings

Median Sold Price

New Pendings

2,305

Closed Sales

1,793

$355,000

Active Listings

998

Avg DOM

Copyright © 2022 MarketStats by ShowingTime. All Rights Reserved.

Data Source: Stellar MLS. Statistics calculated March 08, 2022.

SMITHISHOME.COM

20

Avg Sold to OLP Ratio

100.1%

SOLD | OLD NORTHEAST | LAST LISTED AT $1,790,000

SOLD | BAYSHORE BEAUTIFUL | LAST LISTED AT $3,990,000

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%

Total Transactions in 2021

List to Sold Price

53

280

6

40

Years in Tampa Bay

Associates

Tampa Bay Offices

Dedicated Support Staff

SMITHISHOME.COM

2021 Company Data

SMITH & ASSOCIATES REAL ESTATE TAMPA BAY MARKET REPORT

SMITH & ASSOCIATES REAL ESTATE MARKET SHARE TOTALS

HLLSBOROUGH & PINELLAS COUNTIES | $1M+ 1/1/2021-12/31/2021

SOLD | SUNSET PARK NEW CONSTRUCTION | LAST LISTED AT $2,350,000

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