As 2024 comes to a close, it’s always fun to look ahead to real estate trends and housing markets to watch. In the Emerging Trends in Real Estate® 2025 report by PwC and the Urban Land Institute (ULI), Tampa-St. Petersburg moved up 14 spots over the past year to become the fourth fastest-growing market to watch. This ranking was the most improved among Florida’s major metro areas. Plus, it tied with Deltona/Daytona Beach and Gainesville for the highest upward movement in the state. It’s also the first market to watch for homebuilding possibilities.
It’s no surprise, then, that Money Magazine recently said Tampa-St. Petersburg is the ninth best place to live in the United States.
Located in between Miami and Orlando, residents love Tampa-St. Petersburg’s booming economy, sunny weather, and year-round sports — not to mention no state income tax. Between 2013 and 2023, the area’s population grew by 1.5 percent per year — nearly 2.5 times the national rate. In line with this growth, Tampa’s job growth has almost doubled the national pace in the last decade.
The biggest issue that Tampa-St. Petersburg faces is housing affordability. Research puts the cost of living at 111 percent the national average with home insurance costs ranking among the 10 highest nationally. Still, home prices have come down a bit since their peak in January 2024. Hopefully, lower interest rates will help potential homeowners overcome this hurdle.
The Urban Dog Group is proud to serve customers in the Tampa-St. Petersburg housing market.
We particularly love the city’s pet-friendly features. Not only is it the second best city for pet owners, but it’s ranked number one for the best city to be a dog. With walking trails and dog parks like Lettuce Lake Conservation Park, Hillsborough River State Park, and Al Lopez Park as well as dog-friendly beaches like Honeymoon Island and Picnic Island Park Dog Beach, you and your furry friend are sure to love this bustling spot along Florida’s western coast.
If you added home buyer or seller — in Tampa-St. Petersburg or elsewhere! — to your resume in 2024, you’re not alone. The 2024 NAR Profiles of Buyers and Sellers recently came out, and it’s always fun to look at the data. Some of our favorite results include:
88 percent of buyers transacted through a real estate agent or broker, while 90 percent of sellers sold with help from a real estate agent.
72 percent of sellers said they would definitely recommend their agent for future services.
The median age of first-time homebuyers rose to 38.
The median age of all buyers increased to 56, while the median age of all sellers increased to 63.
For Sale By Owner sales dropped to six percent of all transactions — an all-time low.
Looking to buy or sell in Tampa-St. Petersburg in the coming months?
Let The Urban Dog Group help you with your real estate needs!
Contact Christine Elias at caerealestate@gmail.com.
Comments