From time to time we like to check in on specific neighborhoods in Tampa to see a 5-year picture of what has happened in the market, average sales prices overall and per sq.ft, months of inventory, and what is happening overall. If you would like us to run a report on your neighborhood please contact us at 813-993-0487 or info@buyinthebay.com.
West Soho Tampa Boundaries
In this example of market value increase, we are showing the west part of Soho in Tampa, which is the boundaries of MacDill, Kennedy, Swann, and Howard.
We used only 2 level townhomes for sold comparables, as we have market data supporting that 2 level townhomes historically sell for more than their 3 level counterparts.
Price Trends Past 5 Years
Criteria Used: 1800-3000 Sq.Ft.
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2 Level Townhomes
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Built 2000 or later
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2 Level Townhomes
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Short Sales and Foreclosures Not Used
The past 5 years, 2 level townhomes in SoHo Tampa – West Part of SoHo that were between 1800-3000 sq.ft and built after 2000 have increased in value $89,634 or almost 28% since 2018!
And the average sales price per sq.ft has increased to a record high of $251 per sq.ft. in 2019!
Months of Inventory
A healthy, normal, stable market is 6 month of inventory. As of December 2019, there is only 2.78 months of inventory available for townhomes in the west part of SoHo. If nothing else is put on the market, we will run out of homes in 2.78 months. With supply low, demand increases, and prices also increase.
With limited land to build on, there is a good chance that homes will continue to increase in 2020 in SoHo Tampa.
Sold SoHo West Listings 2017-2019
Homes For Sale In West Soho, Tampa