If you’ve been paying attention to the housing market over the past few years, you’ve probably heard plenty about rising home prices. But have you stopped to consider what that actually means for your home?
Prices have skyrocketed in the past five years—far more than usual. If you’ve thought about selling, that could mean a bigger-than-expected payday when you list. So how much has your home’s value really changed? Let’s break it down.
The Rapid Rise of Home Prices
Historically, home prices increase 2-5% per year. But in 2021-2022, we saw double-digit growth, with prices surging 20% or more at the peak. The demand for homes far outweighed the supply, driving prices higher than expected.
Now, while the market has leveled off, home prices remain significantly higher than they were just a few years ago—and that puts you in a great position as a seller.
The latest data from the Federal Housing Finance Agency (FHFA) shows that, nationally, home prices have climbed nearly 60% in the last five years. And here in Florida? We’re seeing even bigger gains, with home prices up over 74%!
What That Means for You as a Tampa Homeowner
If you’ve been on the fence about selling, this is the time to crunch the numbers. Maybe you’ve held off because of today’s mortgage rates or concerns about affordability. But the equity you’ve built in your home may be more than enough to bridge that affordability gap and move you into your next home with confidence.
And if you’ve lived in your home for longer than five years? Your gains are likely even greater because you’re stacking these recent record-setting increases on top of years of appreciation.
How To Find Out What Your Home Is Really Worth
While the map above gives a broad look at price growth by state, home values vary neighborhood by neighborhood—and even house by house. Factors like:
✔️ Local inventory levels – Is there still a shortage of homes in your area? That can push prices even higher.
✔️ Recent renovations – Have you updated your home? That could boost its value even more.
✔️ Current buyer demand – Are buyers in your area still competing for homes like yours?
The only way to get an accurate idea of your home’s value is to talk to a real estate professional who knows the Tampa market inside and out.
Bottom Line
Your home’s value may have climbed more than you expected—and now could be the right time to make your next move. Curious about what your house is worth in today’s market? Let’s connect and find out.
