Hillsborough County, FL Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

Is this a good time to sell a house in Florida? ›

Spring (March to May)

Spring is traditionally one of the best times to sell a house in Florida. The housing market experiences a boom with high buyer activity, particularly from Northerners looking to escape harsher weather conditions. Homes listed in spring tend to sell more quickly and often command higher prices.

The nine Florida markets were all listed as overvalued by double digits. Of the biggest 100 U.S. metro housing markets considered overvalued, the Miami metro area ranked 11th at 34.7%.

The Florida housing market has been strong for a long time, and even during downturns, the local market performs much better than other areas of the country. Even now, while home values are declining in many areas, Florida home values are up 8.9% year over year. For comparison, national home prices are only up 3.1%.

June 2024 data shows that real estate agents in Florida are optimistic about the market. Real estate agents who offer top-tier services and transparent fees should continue to do well regardless of the recent developments with the NAR.

Is it a buyer's or seller's market in Florida? It is considered a seller's market right now. Housing inventory is up since last year, which means supply is less constrained. Mortgage rates are 6.8%, making the average house payment $2,746, which is $87 lower than a year before.

Typically, winter time is the slowest of the year to sell a property, specifically November, December, and January. However, there are some exceptions because there are several conditions that affect the housing market.

Tampa, FL housing market

The median listing home price in Tampa, FL was $475K in June 2024, trending down -3% year-over-year. The median listing home price per square foot was $294. The median home sold price was $430K.

Average Home Prices: The average median home price in Florida is $419,200. In 2024, experts predict the median sale price may decrease due to the increased inventory. Currently, the sale-to-list price ratio is at 96.90%, with a decline of 0.53 pt YoY.

It's difficult to predict whether home prices in Florida will go down. Various factors come into play and the outcome remains uncertain. However, based on the current market momentum, it appears that the price growth may slow down, with potential decreases in some areas.

While waiting until 2025 might bring lower interest rates, the advantages of buying now, such as less competition, significant migration to Florida, and innovative housing trends, make it a compelling option.

What is the best area in Florida to buy a house? ›

The National Association of Realtors (NAR) found that 75% of Realtors fail within the first year of being in the industry and 87% after five years.

It's difficult to predict whether home prices in Florida will go down. Various factors come into play and the outcome remains uncertain. However, based on the current market momentum, it appears that the price growth may slow down, with potential decreases in some areas.

In a recent note, Chief US Economist Michael Gapen and his team revealed that they expect home prices to rise by 4.5% this year and 5% in 2025. Gapen doesn't foresee the market cooling down until 2026 at the earliest. With this in mind, current homeowners can sell for even higher prices down the road.

Winter is Peak Selling Season

Depending on the type of home you are selling, Florida's prime season for selling homes is often believed to be during the winter months, specifically from December to February. Mild temperatures and the influx of snowbirds make this an ideal time to list your property.

The costs can include fees for the title search, appraisal, and other services. They may also include charges for loan origination, document preparation, and insurance. In Florida, buyers are typically responsible for paying the closing costs. However, in some cases, the seller may agree to pay a portion of the costs.