MARKET REPORT
TAMPA BAY | JANUARY 2025
SMITH & ASSOCIATES REAL ESTATE KNOWS THE MARKET
The Tampa Bay market saw a slowdown in sales activity in January 2025, with rising inventory and longer days on market signaling a shift.
In Hillsborough County, the average sales price dropped 6.4% to $480,247, while total sales fell 31.7%, and homes took an average of 58 days to sell. Active listings grew by 2.5%, giving buyers more options.
In Pinellas County, the average price declined 4.6% to $510,077, with sales down 22.5% and DOM increasing to 63 days. Active inventory rose 5.2%, further easing pressure on buyers.
With more homes on the market and price adjustments underway, sellers must price strategically, while buyers have greater negotiating power in a shifting landscape.
Cover Image: SIGNATURE COLLECTION LISTING 2502 SOUTH DUNDEE STREET | SUNSET PARK | $6,899,900
LOCAL MARKET INSIGHT
HILLSBOROUGH COUNTY | JANUARY 2025
LOCAL MARKET INSIGHT PINELLAS COUNTY | JANUARY 2025
2024 BY THE NUMBERS
2,026 Total Transactions
13.2%
Luxury Market Share
$2.14B
Sales Volume
682
$1M+ Closed Sides
$1.1M Average Sales Price
$2.1M
$1M+ Average Sales Price
56 Years in Tampa Bay
280 Associates
5 Tampa Bay Offices
AQUA Residences Tampa is a three-tower residential development within South Tampa’s esteemed Westshore Yacht Club. The development comprises 77 luxurious condominum residences offering sweeping sunset views, resort-style amenities, and an unparalleled waterfront lifestyle.
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
727.240.1500
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
41-43 Maddox Street London, UK
smithishome.com
