The Tampa, FL metro area housing market in February 2025 presents a complex landscape with varying trends across different metrics. The Median Sales Price has increased to $365,000, marking a 2.8% rise year-over-year. This indicates a steady appreciation in home values, albeit at a moderate pace.

Conversely, the median Price Per Square Foot has decreased by 1.7% year-over-year, now standing at $219.81. This decline suggests a potential shift in buyer preferences or a change in the types of homes being sold, possibly leaning towards larger properties.

On the listing side, the Median List Price has risen to $399,000, reflecting a 2.6% increase from the previous year. The Median List Price per square foot has seen a more significant rise of 5.1%, reaching $246.31. This divergence between sales and list prices per square foot could indicate sellers' optimism or a lag in market adjustments.

The number of Homes Sold has decreased by 7.3% year-over-year, with 4,100 Homes Sold in February 2025. Pending Sales have also declined by 7.7%, totaling 5,626. This reduction in sales activity may be attributed to various factors, including economic conditions or buyer hesitancy.

New Listings have decreased by 5.7% year-over-year, with 6,669 new properties entering the market. Despite this decline, inventory has increased significantly by 15.3%, reaching 18,381 homes. This rise in inventory, coupled with a 90.0% increase in Months of Supply to 4.5 months, suggests a shift towards a more balanced market, potentially easing the competitive pressure on buyers.

The Median Days on Market have increased by 6.0% to 53 days, indicating that homes are taking slightly longer to sell compared to the previous year. This trend may reflect the increased inventory and slower sales pace.

The average sale to list ratio has decreased slightly by 0.7%, now at 96.6%, while the sold above list ratio has also declined by 0.7% to 10.9%. These metrics suggest that buyers are negotiating more effectively, and fewer homes are selling above the asking price.

Price Drops have increased by 2.2%, with 39.7% of listings experiencing reductions. This trend may indicate sellers' adjustments to align with market conditions. Additionally, the percentage of homes going off-market in two weeks has decreased by 3.9% to 27.8%, further highlighting the slower pace of transactions.

Overall, the Tampa housing market in February 2025 is characterized by moderate price growth, increased inventory, and a slower sales pace. These dynamics suggest a transition towards a more balanced market, offering opportunities for both buyers and sellers to navigate the evolving landscape.