34689
Tampa, Florida

The 34689 ZIP code posted a median sale price of $440,000 as of February 2026, reflecting an 18.9% year-over-year increase that outpaces broader Tampa metro appreciation. However, market velocity has decelerated significantly with homes averaging 98 days on market, nearly triple the sub-30-day clearance rates seen during peak pandemic conditions. Only 8% of properties are closing above list price, signaling diminished bidding competition and a shift from the seller-dominant dynamics of 2021-2022.

This environment favors patient buyers with financing secured who can leverage the 98-day average DOM to negotiate concessions during extended listing periods. The 8% above-list closure rate indicates sellers must price accurately from initial listing to avoid becoming part of the 92% accepting at-or-below-ask offers. Cash investors seeking rental yield should scrutinize the 18.9% annual appreciation against acquisition costs, as the PropIQ score of 65 suggests valuation risk may now exceed momentum potential in this pocket of Pasco County.

The PropIQ intelligence score of 65 sits firmly in caution territory, indicating potential price correction or stagnation ahead as the 18.9% growth rate appears unsustainable given weakening demand signals. Inventory absorption at 98 days suggests supply is building faster than buyer capacity, particularly if mortgage rates remain elevated through mid-2026. Monitor month-over-month DOM trends and the percentage of price reductions—if DOM extends beyond 110 days or reduction rates exceed 30%, expect the median to flatten or contract by Q3 2026.