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April data shows Tampa is 6th hottest buyers market, Redfin study
The Brief
According to a new Redfin study, Tampa is the sixth-hottest buyer's market, April data shows.
Six Florida cities are included in the top 10, including Miami, West Palm Beach, and Fort Lauderdale.
Economic uncertainty and mortgage rates could be behind this shift, according to Redfin.
TAMPA - Redfin researchers looked at the number of active MLS listings and compared that to pending sales and the time between a buyer's first tour to their purchase.
According to April 2025 data by Redfin, these are the Top 10 Buyer's Markets, where sellers outnumber buyers:
Miami, FL
West Palm Beach, FL
Fort Lauderdale, FL
Austin, TX
Jacksonville, FL
Tampa, FL
Phoenix, AZ
Las Vegas, NV
Orlando, FL
Nashville, TN
What they're saying
"It's a much more relaxed time for a buyer to buy a home than it was three, four years ago. It used to be five days on market on average -- and in very hot markets, sometimes two: it didn't even make it past the weekend," Ali St Cyr with Tomlin St Cyr Real Estate Services said. "Buyers now have a lot more options to look at when they're considering a home."
Since some time has passed since Florida's big boom during COVID, some sellers may still be living in the past, local real estate agents told FOX 13.
"They believe that their property has increased in value over the last year. So they're pricing it higher than what they should, and that's where you're seeing that price decrease, homes are staying on the market a little bit longer, and buyers are able to negotiate a little more," St Cyr said.
Dig deeper
Other factors behind this recent shift to a buyer's market could be economic uncertainty and mortgage rates, experts with Redfin add.
"And then I think the last hurricane season really scared a lot of people," Mia Annibale with RE/MAX Collective said. "Being stressed out for the whole month of October took a toll on some people, and they didn't want to have the stress of it anymore. So we saw sales just because of that alone."
When talking to clients selling their home, Annibale said coming to an agreement on the list price can sometimes be difficult.
"Everybody's home is special, it's unique, it has a story, it has its perks," Annibale said. "But if you want a home to move in this market, you need to price it aggressively to be honest."
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Annibale told FOX 13 about a recent conversation she had with a client as they discussed the listing price.
"I said, just to give you statistics, there are 182 single-family homes for sale in a two-mile radius -- two miles! -- of your home," Annibale said.
Both buyers and sellers, who play their cards right, can still do well in this market, local real estate agents told FOX 13.
"We're still in a very balanced market. There's nothing to panic about. You just have a little more time on market and a little bit more back and forth between the buyer and seller in the sales process," St Cyr said.
"If sellers are realistic about their price and buyers have opportunity to get a concession, this can be a positive thing for both sides," Annibale added.
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The Source
Information for this story was gathered by FOX 13's Ariel Plasencia.
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