06/24/2024
**Real Estate Market Report - Hillsborough County, Florida - May 2024**
The real estate market in Hillsborough County, Florida, in May 2024
continues to demonstrate strength and favorability for sellers. Here
is a summary of the key market data for the month:
1. **Sold Volume**: The total sold volume for May 2024 in Hillsborough
County reached an impressive $1,198,000,776, indicating a high level
of real estate transactions in the area.
2. **Active Listings**: There were 5,408 active listings in the
market, suggesting a healthy inventory for potential buyers to choose
from.
3. **Closed Units**: A total of 2,231 units were closed in May,
reflecting a robust level of real estate sales activity in the county.
4. **Median Sold Price**: The median sold price for properties in
Hillsborough County stood at $410,000, highlighting the value of homes
in the area.
5. **Average Sold Price**: The average sold price was $536,979,
indicating a mix of property values in the market.
6. **Median DOM (Days on Market)**: The median days on market for
properties in May was 23 days, showcasing the speed at which homes are
being sold.
7. **Average DOM**: The average days on market was 42 days, indicating
that properties are generally selling within a reasonable timeframe.
8. **Price Per SqFt**: The price per square foot stood at $260,
providing insight into the cost of properties on a per square foot
basis.
9. **Months Inventory**: With a months inventory of 2.4, the market in
Hillsborough County remains in favor of sellers, indicating a limited
supply of homes relative to the level of demand.
10. **Market Type**: The market type in May 2024 was classified as a
Seller's market, further emphasizing the favorable conditions for
those looking to sell their properties.
Overall, the real estate market in Hillsborough County, Florida, in
May 2024 is characterized by strong sales volume, competitive pricing, and a market environment that heavily favors sellers. This data indicates a vibrant and dynamic real estate landscape, making it an exciting market for both buyers and sellers alike.