In contrast to the statewide figures, one of Florida’s most desirable living areas, located on the Gulf Coast, continues to experience a price decline. The Trulia report for Tampa Market Trends disclosed that in the week ending August 5, the average listing price of Tampa Bay homes for sale was $329,035. For an area of the state where housing tends to be on the pricey side, this could be the right time to get a great deal. 

For example, the report stated that the median sales price for homes in Tampa FL for May 09 to Jul 09 was $144,001. Compared to the prior quarter, this is a decline of 0.7%, or $999; additionally, it is a decrease of 28% compared to the prior year. Overall, sales prices have depreciated 9.9% over the last 5 years in Tampa.

Will prices in Tampa continue to decline? No one can say for sure, but if the rise of home prices statewide is any indication (see below), it may be wise to act sooner than later.