ST. PETERSBURG, Fla. — If you're looking to sell your home in 2024, spring is the best time to put your property on the market.
In fact, across the U.S., the week of April 14-20 is considered the best week to list a house, according to Realtor.com. Still, even with this primed housing market, home sellers are being cautioned to have "more realistic" expectations.
The reason? Realtor.com says a recent survey showed homeowners expect fewer bidding wars and offers high above the listing price. Additionally, many sellers anticipate their homes will take longer to sell than in previous years.
"Home sellers have adjusted their expectations. They’re becoming a little more realistic given the current market conditions," Hannah Jones, Realtor.com's senior economic research analyst, said in a statement. "Home prices and mortgage rates remain elevated, so buyers are going to be a little bit more picky and are going to be looking for more flexibility from sellers."
With these more "realistic" expectations, potential homebuyers can expect a slightly better market. Experts say this change in the market isn't necessarily a bad thing for sellers, either.
But what's the housing situation like here in the Tampa Bay area? It's still considered a seller's market, meaning more people are looking for a home than homes available.
This is partly due to the continued influx of people moving from out of state to call Florida home, Redfin said.
As of the end of March, the median home price in Tampa was about $427,000, according to multiple realtor sites. That's up more than 11 percent compared to 2023, according to Redfin.
Redfin reports the Tampa housing market is considered somewhat competitive, with some homes having multiple offers. Currently, average homes sell a little below the list price while on the market for just over a month.
According to Zillow, nearly 70 percent of homes sold under the list price and only 14 percent exceeded the listing amount.