The Tampa, FL metro area housing market in January 2025 presents a complex landscape with varying trends across different metrics. The Median Sales Price has decreased by 5.8% year-over-year, settling at $355,000. This decline contrasts with the Median List Price, which has increased by 5.3% to $394,900, indicating a potential gap between seller expectations and buyer willingness.

In terms of Price Per Square Foot, the Median Sales Price per square foot has decreased by 2.0% to $217.38, while the Median List Price per square foot has risen by 3.1% to $242.67. This divergence suggests that while sellers are optimistic about pricing, buyers are negotiating more aggressively.

Sales activity shows a mixed picture. The number of Homes Sold has increased by 3.1% year-over-year to 3,468, indicating a healthy demand. However, Pending Sales have decreased by 4.6% to 5,427, which may suggest a slowdown in future transactions. New Listings have surged by 10.1% to 7,241, contributing to a significant increase in inventory, which is up by 19.2% to 17,720 homes.

The Months of Supply, a critical indicator of market balance, has risen dramatically by 70.0% to 5.10 months. This increase suggests a shift towards a more balanced market, potentially giving buyers more leverage in negotiations. The Median Days on Market have increased by 9.0% to 51 days, further indicating a cooling in market velocity.

The average sale to list ratio has slightly decreased by 0.7% to 96.3%, reflecting a modest reduction in how close final sale prices are to initial list prices. The percentage of Homes Sold above list price has also decreased slightly by 0.4% to 11.0%. Price Drops have increased by 1.9% to 39.8%, suggesting that sellers are adjusting their expectations in response to market conditions.

Finally, the percentage of homes going off the market within two weeks has decreased by 2.0% to 25.5%, indicating a slower pace of transactions. Overall, the Tampa housing market in January 2025 is characterized by increased inventory and a more balanced supply-demand dynamic, with sellers adjusting to a more cautious buyer base.