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We are STILL in a Sellers Market in Tampa Bay!

September 12, 2023

In the heart of Florida, Tampa Bay’s real estate market is currently experiencing a significant surge. This growth is largely due to a decrease in new listings, which has created a favorable seller’s market. As a result, the average house price in Tampa has seen a 1.8% increase since last year, rising to $433K. This strong demand is further reflected in the fact that sellers are receiving almost 95% of their asking price (100% if you sell with Team Borham!). This suggests that now could be an excellent time for homeowners to consider selling. However, despite this advantageous market situation, sellers must still ensure their homes stand out to potential buyers. Recognizing this need, Team Borham has introduced a renovation assistance plan. This innovative service aims to help sellers prepare their homes for sale, making them more appealing to buyers and potentially increasing their market value. In such a dynamic market, pricing strategies can play a pivotal role. A well-considered pricing strategy can not only attract multiple offers but also set new neighborhood records. Therefore, it’s important for sellers to work with experienced real estate professionals who can provide informed advice. The Tampa Bay real estate market is not limited to single-family homes. There has been a notable surge in the development of high-end condos and mixed-use properties. These new developments are transforming the skyline of Tampa Bay, attracting billionaires, and adding to the overall growth of the market. All of these factors combined are making Tampa Bay an increasingly attractive place to live. With its thriving real estate market, ongoing development, and influx of wealth, the future looks bright for both sellers and buyers in the Tampa Bay area.

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This post was written by Elevate, Inc.

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