33611
Tampa, Florida

The 33611 ZIP code shows a median sale price of $514,900 with a 7.3% year-over-year appreciation, indicating continued but moderating growth in this Tampa submarket. Homes are moving in 62 days on average, suggesting neither urgency nor stagnation in transaction velocity. Only 11% of sales close above asking price, a significant decline from the competitive bidding environment that characterized 2021-2022, pointing to normalized seller-buyer negotiations and reduced FOMO-driven purchasing behavior.

This market configuration favors buyers with financing contingencies and inspection periods, as the 62-day absorption rate and limited above-ask sales provide negotiation leverage absent in tighter markets. Sellers with equity built before 2023 can still capture the 7.3% annual gain, but those expecting multiple offers face a 89% probability of accepting at or below list price. Value-add investors targeting the $400,000-$600,000 range will find less competition than in previous cycles, though cap rate compression from the elevated basis requires careful underwriting.

The PropIQ score of 65 signals caution rather than distress, suggesting potential headwinds from broader Tampa inventory increases or affordability constraints at the half-million price point. The combination of moderate days-on-market and single-digit above-ask percentages indicates equilibrium could tip toward buyers if mortgage rates remain elevated or local employment data softens. Watch for changes in the 11% above-ask metric—movement toward 5% would confirm a definitive shift to buyer advantage.