34698
Tampa, Florida
Tampa 34698 needs watching.
The 34698 ZIP code in Tampa, Florida has a median sale price of $428K, down -7.1% year-over-year. Homes spend an average of 55 days on market, with 8% of homes selling above list price.
Folio's PropIQ™ score of 55 signals Caution conditions. Elevated price drops and longer days on market indicate softening in 34698.
The 34698 market is experiencing a price correction, with the median sale price settling at $427,500 after a 7.1% year-over-year decline. Homes are moving at a moderate pace, averaging 55 days on market, while only 8% of properties sell above asking price. This represents a shift from the elevated pricing of early 2025, indicating buyers now have measurable negotiating leverage in transactions. The limited number of above-list sales confirms that seller expectations have not yet fully adjusted to current demand levels.
This environment favors buyers with financing in place and patience to negotiate, particularly those seeking primary residences in the mid-400s price range. The 55-day market timeline allows for thorough due diligence without the pressure that characterized tighter inventory periods. Sellers face challenges unless pricing 5-8% below 2025 comparables, while investors should approach cautiously given the PropIQ score of 55 suggests risk factors outweigh momentum indicators. Cash buyers gain the strongest position to extract concessions during the extended negotiation window.
The PropIQ score of 55 signals underlying market fragility that warrants continued monitoring through Q2 2026. Price discovery remains incomplete as the gap between seller expectations and buyer willingness persists, evidenced by the low above-list percentage. Watch for further days-on-market extension beyond 60 days or acceleration of price reductions, either of which would confirm continued downward pressure. Stabilization requires either demand catalysts or additional 5-10% price adjustments to clear existing inventory.
What is the median home price in 34698 Tampa?
The median sale price in 34698 is $428K, down -7.1% year-over-year as of 2026-02-28.
How long do homes stay on the market in Tampa 34698?
Homes in 34698 Tampa spend an average of 55 days on market before going under contract.
Is Tampa 34698 a good place to invest in real estate?
Folio's PropIQ™ score for 34698 is 55/100 — a Caution signal. 8% of homes sold above asking.
What does a PropIQ™ score of 55 mean for 34698?
PropIQ™ is Folio's proprietary market score combining price momentum, days-on-market velocity, inventory absorption, and investment signals into a 0–100 number. Score of 55 = Caution in 34698 Tampa, Florida.