Tampa Bay Housing Update: A Little Sunshine for Buyers (and Strategy for Sellers)
Mortgage rates just dipped to their lowest level in nearly a year — and it’s sending a ripple through the Tampa Bay and St. Petersburg real estate market.
If you qualify for a 6.55% mortgage rate, you’ve gained about $20,000 in purchasing power compared to May’s 7.08% rate. That’s the difference between settling for “almost right” and landing the home that really makes you light up — whether that’s a waterfront condo in downtown St. Pete or a pool home in South Tampa.
What We’re Seeing in Tampa Bay Right Now
We’re in a market that’s not quite hot, but definitely not cold.
• Longer days on market: Many homes are taking longer to sell, compared to the lightning-fast 10–20 days we saw a couple years ago.
• More price reductions: Many listings have had a price drop this summer, especially if they started above market value.
• Sellers getting creative: We’re seeing more offers to cover closing costs, provide repair credits, or buy down the buyer’s rate to seal the deal.
Why This Is a Window for Buyers
If you’ve been sitting on the sidelines, you’ve got more leverage than we’ve seen in a while:
• More homes to choose from means less pressure to bid over asking.
• Negotiation opportunities can save you thousands at closing.
• Some of Tampa Bay’s most desirable neighborhoods — from Gulfport’s charm to St. Pete wonders to Odessa’s sought after communities to Wesley Chapel’s new builds — are finally seeing inventory loosen up.
What Sellers Need to Hear (Even If It’s Not Fun)
Gone are the days of “list it Friday, sold by Monday.” In this market:
• Pricing matters. Coming in high can push you into the reduction zone.
• Presentation is power. Homes staged and marketed professionally still sell faster and for more money.
• Flexibility wins. Offering incentives can make your home stand out without slashing the price.
The Wild Card: Mortgage Rates
Rates are still moody. With more economic data coming out soon, they could rise again — and today’s extra $20K in buying power could disappear.
Our Take
This is what we call a “strategy market” — one where the right moves make all the difference.
At Rocks Realty, we’re helping buyers score homes they thought were out of reach and helping sellers close faster in neighborhoods where other listings are stalling.
If you’re ready to move — or just want to know exactly where you stand — let’s talk. We’ll give you a clear plan, honest advice, and a few creative plays that work in this market, not last year’s.
— Annie Rocks & The Rocks Realty Team
