March Market Update: More Homes, More Choices in Tampa Bay

March is here! While the rest of the country is thawing out, we’re already in full spring real estate mode here in Tampa Bay! If you’ve been watching the market, you may have noticed some big changes—especially if you’re buying or selling this year.

So, what’s going on? Let’s break it down.

📊 Tampa Bay Market Snapshot: Inventory is Rising

For the past few years, we’ve been dealing with a major housing shortage, but things are shifting. Here’s what’s happening:

More homes on the market: Active listings are up over 36% compared to last year, meaning buyers have more options than before.

A slightly less competitive market: Bidding wars aren’t as intense, giving buyers a little more breathing room.

Prices are still strong: While demand is steady, homes aren’t selling overnight like they were in 2021-2022.

If you’re a buyer, this is great news! You have more choices and potentially better negotiating power. If you’re a seller, don’t sweat—homes are still selling of course, but pricing and marketing matter more than they have previously.

🌼 Why March is a Great Time to Buy or Sell

March marks the beginning of the spring real estate season, and that means more activity in the market. Here’s why:

Sellers are listing more homes: Spring always brings more inventory, giving buyers more opportunities.

Buyers are still active: People want to move before summer, meaning well-priced homes are still selling rather quickly.

Interest rates finally dropping: As of the beginning of March, average interest rates on a 30 year fixed mortgage are seeing a downward slide at 6.3%

Thinking about selling? Now’s the time to make your home stand out from the rest! Staging, professional photos, and pricing it right are always key to getting top dollar.

💰 Tips for Buyers in This New Market

If you’ve been holding off on buying because of crazy competition, this might be your moment. But don’t get too comfortable—good homes still move fast. Here’s how to stay ahead:

Get pre-approved: Sellers want serious buyers, and this gives you an edge. You wouldn’t go shopping in the grocery store without knowing how much is in your wallet, correct!? Home shopping without a preapproval is just as silly.

Be ready to make a strong offer: While competition has cooled, well-priced homes still sell quickly.

Work with a local agent (hey, that’s me!): Having an expert on your side makes all the difference in negotiations.

🎉 What’s Happening in Tampa Bay This Month?

Looking for something fun to do between house hunting? Check out these great events:

Florida Strawberry Festival

Dates: March 6–16, 2025

Location: 2202 W Reynolds St, Plant City, FL

Details: Known as the "Winter Strawberry Capital of the World," this 11-day event attracts over 600,000 visitors annually. Enjoy a variety of activities, including delicious strawberry-themed foods, live entertainment from artists like Boyz II Men and Lynyrd Skynyrd, and much more.

More Info: Florida Strawberry Festival 

AXIOS.COM

Downtown Tampa Walking Tour

Date: Saturday, March 15, 2025

Time: 10:00 a.m.–11:30 a.m.

Location: Tampa Theatre, 711 N Franklin St, Tampa, FL

Details: Discover Tampa’s past as you stroll through historic districts on this guided walking tour. Learn about the city’s evolution from a 19th-century military outpost to a bustling hub of commerce.

More Info: Downtown Tampa Walking Tour 

TAMPABAYHISTORYCENTER.ORG

🚀 Thinking About Buying or Selling? Let’s Talk!

The market is changing, and whether you’re buying, selling, or just curious, I’m here to help. Let’s chat about your goals and make a plan to get you moving this spring!

Message me today to get started!

📞 321.621.1411

📧 kathleen.bonelli@c21edge.com