Tampa, FL Real Estate Market: What You Need to Know
Are you interested in investing in the real estate market in Tampa, FL? This bustling city on Florida’s west coast offers a wide range of residential and commercial properties. Whether you’re looking to buy a forever home, an investment property, or a vacation spot—Tampa has something for you. Here's what you need to know about the Tampa real estate market.
Location and Market Trends Tampa is located on the west coast of Florida on the Gulf Coast, approximately 115 miles west of Orlando and 60 miles northwest of Sarasota. With its proximity to major attractions such as Busch Gardens and Adventure Island, Tampa is an attractive place for tourists and retirees alike. The median list price for homes in Tampa was $323K in November 2020 - up 8.8% since last year - with prices forecasted to continue climbing over the next few years. For investors looking at rental properties, the average rent for a two-bedroom apartment reached $1,242 this past October (up 2% from last year).
Buying Opportunities Tampa's housing market remains competitive despite rising prices - making it difficult for buyers to secure their dream homes without putting down hefty deposits or bidding wars. Fortunately, there are still affordable buying opportunities available outside of more “mainstream'' areas like Downtown Tampa or St. Petersburg; buyers should investigate listings south of Interstate 4 near Brandon or eastward towards Palmetto Beach where values remain relatively static across all types of residential properties.
In conclusion - with its proximity to nearby attractions and warm weather year-round - it’s no surprise that investors are flocking towards Tampa’s real estate market. With some savvy research and insight from experts in the field, buyers are sure to find something that meets their needs!