Is it a good idea to buy a house in Tampa FL or even Tampa Bay?

Yes, it is a good idea to buy a house in Tampa. The Tampa housing market date and for that matter the Tampa real estate market (including commercial) is large and strong. Truth is there are more people wishing to live here than ever before. That is for many reasons from freedom, taxes and beautiful weather.

Tampa FL

The Tampa Housing Market Data

The typical home in this area can still be purchased for around $400,000. That is very near the current median price for all types of homes combined. Keep in mind that the city of Tampa FL and the Tampa Bay area are much larger than what many realize. Even as interest rates climb the Tampa housing market will provide most home buyers with a decent affordable house or condo.

Tampa Housing Market Trends

Right now the overall Tampa real estate market is going down ever so slightly. The number of homes coming on the market has recently increased and interest rates have also risen. Still we have an amazing amount of home buyers every month.

Tampa Bay Area Housing Market

Tampa Bay is huge and so is it's housing market. It includes Clearwater FL and St Petersburg. You will also find over 20 more cities within the Tampa Bay area. Most of their real estate markets include waterfront, or Gulf front properties which means, expensive. Home prices definitely drop in the more rural areas which allows most people to buy a house in Tampa.

Down Payment & Closing Costs

Many people today are using FHA loans or VA Loans which allow you to place less money down when purchasing. You will still need around 3% for your closing costs in addition to the home prices. In Florida I strongly encourage you to get a home inspection even on new construction.

In Closing

Tampa home values will remain stronger than much of America. The purchase price may be high, the monthly payment as well but many say money well spent. Contact us if you are looking for a Tampa real estate agent.