Tampa Florida Real Estate Market Forecast for 2021 & Beyond
Tampa Florida real estate is one of the hottest markets right now. Florida, in general, is on the rise with almost 1,000 new residents moving here each day. Tampa Bay ranks as one of the most desired areas to live in and to do business in. There is new construction going up, and old neighborhoods getting revamped and redeveloped.
Whether you are looking for a home for yourself, another rental property to lease, or a commercial building for a business, now is the time. Let’s take a dive into Tampa real estate.
2021 Tampa Florida Real Estate Forecast
Ranking as one of the fastest-growing cities in the state, Tampa is being recognized for its major potential. The city’s expectations are to stay on its strong and steady growth pattern not only throughout 2021 but over the next decade.
Real estate prices are about 10% lower than the national average. Yet, Tampa’s growth is about 10% more than the national average.
Why Tampa Florida Real Estate is Growing
There are plenty of reasons that Tampa real estate thrives. The west coast of Florida is home to some of the most beautiful beaches in the country, vacation meccas, baseball spring training stadiums, Tampa International Airport, and a growing economy worth over $169 billion.
People love to vacation here because there is so much to do and see. They move here because it is a great place to live. And, they do business here because of all of the above.
The Area & The Locals
Tampa is a transient area meaning that its residents are mostly made up of transplants from other parts of the country, and the world. Though there are not many native Floridians living in this part of the state, there is still a tremendous local pride.
The average residents are young professionals, entrepreneurs, military veterans, retirees, and students attending USF. Local sports teams are going all the way. The Buccaneers are making history by being the first football team to ever not only play but win the Superbowl in their hometown.
Business is Booming
For those looking at the commercial properties in Tampa Bay, you must be wondering how the local economy and businesses are doing. Though 2020 was hard on everyone and small businesses suffered across the globe, Tampa has surprisingly shown strength and growth even without its usual flux of tourists visiting throughout the year.
Crime rates are some of the lowest in the state. Plus, the unemployment rates are some of the lowest in the nation in comparison to other cities.
Tampa is 175.8 square miles of possibility. The real estate market here has something for everyone. The Tampa houses for sale range from single-family homes, to luxury condos and everything from commercial leases to commercial space for sale.
Sunshine State of Mind
It is no surprise that the Tampa Florida real estate market is so sought after. 2021 is already off to a great start for Tampa Bay and it’s packed with more hope and growth for the future.
Looking for a property management firm with a great track record, decades of experience, and spotless client feedback? HSW Associates Inc is ready to help you with your real estate needs, contact us today to discuss your plans for Tampa.< Back to Blog