MARKET REPORT
TAMPA BAY | MAY 2025
SMITH & ASSOCIATES REAL ESTATE KNOWS THE MARKET
The Tampa Bay real estate market remained steady in May, with closed sales up 6.2% in Hillsborough and 2.4% in Pinellas—a clear sign that buyers are still active. New listings declined month-over-month in both counties, but active inventory remains at a five-year high, giving buyers more to choose from.
Despite national headlines painting a negative picture of the housing market, average prices rose slightly to $506,000 in Hillsborough and $516,332 in Pinellas. Homes are sitting longer, with Days on Market averaging 52 days in Hillsborough and 56 in Pinellas.
Across the market, we continue to see that homes in good condition, well-presented, and appropriately priced still sell—and often receive multiple offers.
If you’re considering a move this year, it’s more important than ever to work with an experienced agent who understands the dynamics of our local market. Please reach out if we can put our local expertise to work for you.
LOCAL MARKET INSIGHT
HILLSBOROUGH COUNTY | MAY 2025
LOCAL MARKET INSIGHT PINELLAS COUNTY | MAY 2025
The Authority in Tampa Bay Real Estate
$2.14B Sales Volume, 2024
102K+ Lifetime Transactions
2,062 Transactions, 2024
$2M+ #1 Donated Locally In New Development #1 In Tampa Bay #1 In Earned Press
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With sophisticated contemporary architecture, elegantly finished residences, and extraordinary hospitality-style amenities, ONE Tampa’s soaring 42-story tower is an icon in the city skyline offering a lifestyle of unparalleled luxury. With lofty ceiling heights and floor-to-ceiling windows as well as private terraces with transparent railings, residences showcase a shimmering panorama of views across the city skyline and Hillsborough River to the bays beyond.
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
