South Tampa Real Estate Report

South Tampa Real Estate Market Report | 10/20/24 - 10/26/24

South Tampa inventory is up 27% from one year ago. A good bit of that inventory (approximately 300 units) hit the market in the past month as many homeowners affected by the storms decided to sell. I can't count the number of times I've been asked, "What should I do? Sell for land value? Renovate? Elevate? Tear down and rebuild?" by folks whose homes were damaged in Helene or Milton. I wish the answers to these questions were easy, but they're not. Every homeowner has different circumstances, whether it's financial resources, insurance coverage (or lack thereof), tolerance for future storms, or the effect of FEMA's 50% Rule, there is no "right" answer for everyone. If you have questions, are uncertain of what to do or simply need a listening ear, please reach out to us. Have a great week!

Michael Palermo

---