5 Hot Trends for 2021 Real Estate in Tampa
-5 Hot Trends for 2021 Real Estate in Tampa-
As we settle into the winter months, analysts and experts across Florida and the U.S. are declaring a hot real estate market. Yes, 2021 is slated to be an excellent year for home sellers and homebuyers — from millennials, to snowbirds, and everyone in between in Hillsborough, Pinellas, and Pasco Counties.
As more retirees decide to downsize to smaller homes, more out-of-state residents look to invest in Florida, and more millennials are interested in buying their first homes, our real estate team wants you to know the latest trends in local real estate.
Tampa Bay Area Homebuying and Selling Trends
Here are 5 reasons why 2021 will be a hot real estate market for the Greater Tampa Bay area.
- People are Making Moves: Despite the pandemic, or perhaps because it, people across the Tampa Bay area making home life and home investments a budget priority.
- Now is a Great Time to Sell: Locally, home values are on the rise. Tampa Bay area sellers could be reaping the benefits of above average price gains in 2021. Experts are predicting that local home-sale volumes could exceed the national average this year. In other words, there are buyers waiting to see your house!
- Interest Rates Remain Low: Due to the state of the economy, The Federal Reserve has kept interest rates at record lows. For qualified buyers, a 15-year or 30-year mortgage with affordable monthly payments could be within your reach for 2021. Additionally, due to rising home values and other market factors, it is possible that buyers may see substantial equitable value within the first few years of ownership.
- Tampa Bay is Where Buyers Want to Be: Tampa Bay boasts everything from gorgeous beaches, to an active job market, to the Superbowl this winter. Our thriving economy and our beautiful array of home options creates an irresistible attraction to living in the Tampa Bay area as opposed to comparable metro regions in the South.
- People are Ready for a Change: If 2020 taught us anything, it is that we need to love where we live. That is why many empty nesters and senior homeowners are opting to downsize to more manageable homes such as villas, one-story homes near family, waterfront condos or full featured 55+ communities. Vice versa, young apartment dwellers are opting for spacious suburban pool homes. Buyers and sellers alike will be seeking positive changes for their home lives for 2021.
Home Ownership in the Greater Tampa Bay Area
The Greater Tampa Bay Area is famous for being one of the most beautiful waterfront regions with ample investment opportunities and many unique communities. The region offers Gulf front properties, coastal communities, countless lakefront homes, downtown townhomes and high rises, vibrant urban bungalows, and sprawling suburban neighborhoods for people of all ages and lifestyles to enjoy.
We love helping Florida residents downsize, upsize, or move between homes. Contact Dick and Karla Nielsen at 813-294-5786 for professional real estate advice on building, buying, or selling.
