South Tampa Real Estate Report

South Tampa Real Estate Market Report | 09/13/20 - 09/19/20

According to a recent article published by the National Association of Realtors, August '20 national homes sales reached levels not seen since 2006. Low inventory and rising building costs are driving home prices higher, but historically low interest rates are easing the blow just a bit for buyers. Unlike other parts of the country, South Tampa doesn't have the luxury of adding a lot of new single family home inventory. The area is almost completely built out so we primarily see infill homes (new homes replacing previously existing homes). As such, competition for South Tampa homes will remain fierce for the foreseeable future. Stay safe and have a great week!

Michael Palermo

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