MARKET REPORT
TAMPA BAY | FEBRUARY 2025
SMITH & ASSOCIATES REAL ESTATE KNOWS THE MARKET
The Tampa Bay real estate market saw increased activity in February 2025, with both Hillsborough and Pinellas counties experiencing a rise in new listings, pending sales, and closed transactions compared to January. In Hillsborough County, new listings climbed by 18.7% to 2,217, and closed sales surged by 26.6%, reaching 1,379. The average sales price also increased, rising to $511,165, reflecting a 6.4% month-over-month gain. Active inventory grew to 6,145 listings, and the average days on market edged up to 60 days. The sold-to-original-list-price ratio improved slightly to 94.2%, suggesting that sellers are achieving closer to their asking prices.
Pinellas County mirrored these trends, with new listings jumping 30.2% to 2,562, and closed sales rising 20.2% to 1,339. The average sales price increased slightly to $521,067, up 2% from the previous month.
However, the average days on market extended to 67, indicating that buyers are taking more time to finalize transactions. The sold-to-original-list-price ratio improved marginally to 91.1%. Both counties are seeing increased inventory and sales momentum, suggesting a more competitive market heading into spring. If this trend continues, sellers may have more confidence in pricing, while buyers will need to navigate heightened competition in the coming months.
Both counties are seeing increased inventory and more closed sales, indicating strong market activity. If you’re considering a move this year, it’s more important than ever to work with an experienced agent who excels in pricing, negotiation, and marketing to help you achieve your sales goals. Please reach out if we can put our local expertise to work for you.
LOCAL MARKET INSIGHT
HILLSBOROUGH COUNTY | FEBRUARY 2025
LOCAL MARKET INSIGHT PINELLAS COUNTY | FEBRUARY 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
Pendry Residences Tampa combines world-class hospitality with the privacy of an exclusive residential tower to create a distinctive expression of luxury on Tampa’s Riverwalk. Residences are located exclusively on levels 15 through 37 of the 38-story tower, and boast expansive floor plans, sophisticated finishes, and panoramic skyline and water views.
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
