Tampa Bay Real Estate Market Update – January 2026 | Base Camp Tampa Bay
What Buyers and Seller Should Know
Prices Have Softened —
You May Have Negotiation Power
Across both Pinellas and Hillsborough counties, median home prices have been declining year-over-year or are showing signs of easing from recent peaks.
In Pinellas County, home values are reported lower year-over-year by about 5–8%, and typical homes sell for around the mid-$300Ks to low-$400Ks depending on the data source and time period.
In Hillsborough County, the median sale price has also started to soften, with recent data showing a slight annual decline (~2–4%) and homes taking longer to sell.
2. Inventory Is Higher —
More Options, Less Frenzied Competition
Inventory — the number of homes available for sale — has meaningfully increased in both counties:
Pinellas County’s inventory is up significantly year-over-year, in some reports nearing or exceeding more balanced market levels.
Hillsborough County similarly has seen inventory growth and a notable share of listings that have seen price cuts, signaling more choice and less urgency among buyers.
3. Different Segments Behave Differently —
Know Your Target Market
Not all housing types are moving the same way:
Condos/Townhomes
In Pinellas County, the condo segment is clearly buyer-favorable, with months’ supply well above balanced levels, more inventory, and slower sales.
Single-Family Homes
Single-family homes in both counties are closer to a balanced market — still active but not as competitive as before.
Watch our December recap real estate market video to get all the details.