Predicting real estate trends for 2023

2023 Tampa Bay real estate predictions

We’re sure this upcoming year will be as newsy as ever. | Photo via @growgavan

There aren’t enough flame emojis on the Internet to describe the Tampa Bay housing market. In 2022 thus far, the median single-family home in Hillsborough County sold for $415,000. Yowza. 🔥

Prices have cooled off a bit. And for those hoping to dip their toes in the home-buying waters soon, it helps to know what trends to expect. Put on your floaties, and let’s hear what the local experts predict.

A healthier market

Monica Crawford, a realtor with Keller Williams Realty St. Pete, says the biggest trend for 2023 will be negotiating with sellers again now that the “white-hot market” has cooled. Crawford says this new market —with its higher interest rates — is actually healthier because buyers have more time to request inspections, appraisals, and aren’t having to offer over the asking price.

Now, she says, buyers are once again “able to do their due diligence” to make sure their home is priced accurately.

Embrace renovations

Rachel Litchfield works for Keller Williams Suburban Tampa. She says Tampanians should look at areas in West + East Tampa, like Tampa Heights or Ybor City, that may be an older space, but still are a great bang for your buck.

Litchfield also says more buyers may want to look at places that satisfy most of their wants, but could use some renovations.

Buyers hoping to find areas with less competition may want to think about looking in growing neighborhoods. In Pinellas, Crawford recommends looking at Coquina Key, Old Southeast, or Central Oak Park.

Worth it to wait?

Both Palmer and Litchfield agree that while interest rates are high, it’s still a good time to buy. A lot of sellers are offering incentives to buyers — like covering closing costs for buyers or repairs. Litchfield adds that there are programs for buying down the rate, negotiating the rate into the price, and there are other grants and assistance programs residents can tap into. Basically, get on that dream home now.

MORE HOT REAL ESTATE TIPS

POLL

Give us your predictions: Over the next six months, the real estate market here will…

A. Heat up even more
B. Level off and stay about the same
C. Start to cool off a bit
D. I have no earthly idea

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Today

Bad Suns & Last Dinosaurs & Quarters of Change | Tue., Nov. 1 | 5 p.m. | Jannus Live, 200 First Ave. N., St. Petersburg | $24.50 | Join the indie-pop trio + their two openers live at Jannus for the first time since the pandemic ended.
DAY 7: PRIDE: Día de los Muertos | Tue., Nov. 1 | 4-11:59 p.m. | MacDinton’s Irish Pub, 405 S. Howard Ave., Tampa | Free | Show up dressed to impress in your best favorite Day of the Dead + face paint.

Wednesday, November 2

Coffee with a Curator | Wed., Nov. 2 | 10:30-11:30 a.m. | The Dalí Museum, 1 Dali Blvd., St. Petersburg | Free | This month’s staff lecture features a behind-the-scenes look at the museum.

Thursday, November 3

Art on the House | Thu., Nov. 3 | 4-8 p.m. | Tampa Museum of Art, 120 Gasparilla Plaza, Tampa | Pay as you will | Bring the family + celebrate 100 years of art in Tampa with exhibitions that emphasize ancient, modern, and contemporary art.
Oso Oso | Thu., Nov. 3 | 6 p.m. | The Orpheum, 1915 E. Seventh Ave., Tampa | $19 | Join the American emo-pop band Oso Oso, M.A.G.S., and Anxious on tour at the historic Orpheum.

Friday, November 4

Sunset Paddle Happy Hour | Fri., Nov. 4 | 4:30 p.m. | Urban Kai, 700 S. Florida Ave., Tampa | $25 | Drift through the Hillsborough River as the sun sets on Tampa Bay.

We have a monthly guide filled with events + activities you can plan for in advance. Click the button below to bookmark ideas for upcoming date nights, family outings, and time with friends.

Weather

84º | Mostly sunny | 10% chance of rain

Sunrise + sunset

Rise: 7:41 a.m.
Set: 6:46 p.m.

Tide
Old Tampa Bay

High: 8:18 a.m.
Low: 5:12 p.m.

Clearwater Beach

High: 4:31 a.m. + 8:58 p.m.
Low: 1:04 p.m.

Eat

Grab a gallon of milk. Crumbl Cookies is bringing its baked confectionary delights to South Tampa. The sweet spot rotates out a new array of tastes weekly. Tampa’s new Crumbl will be located on Dale Mabry across the street from Plant High School. The owners hope to cut the red ribbon next May. 🍪 (That’s So Tampa)

Arts

Peep this. Screen Door Microcinema — a new 38-seat small movie theater —opened this past weekend in Ybor City. The theater boasts two 35mm projectors and plans to screen the types of movies you can’t see at regular theaters, like short films + music videos. Screen Door is located on the second floor of a new art compound in the Kress building. 🎥 (Creative Loafing Tampa)
Beth Morean is back again with a new addition to her art empire. The Morean Workshop Space is now open in the Warehouse Arts District to artists looking to expand their craft. The workshop lives in a 9,000 sqft. historic building on the Pinellas Trail. 👩‍🎨 (The Tampa Bay Times)

Ranked

A new study ranks Tampa as the fifth-best city for veterans. The study took into account livability, affordability, and veteran-friendliness. Plus, St. Pete ranked twelfth. Tampa Bay Veterans Appreciation Weekend is Nov. 12-13. 🇺🇸 (WalletHub)
St. Pete’s other pink hotel — The Vinoy Renaissance Resort + Golf Club, was named one of the top 15 resorts in FL. This year the hotel came in tenth place with a 90.99 rating out of 100. It was the only resort in Pinellas County to crack the top ten. Book your relaxing getaway here. 🏩 (Condé Nast Traveler)

Development

The conversation starts here. St. Pete Mayor Ken Welch plans to host a Community Conversation regarding the future of the historic Manhattan Casino tonight. Officials say MC will be temporarily closed when the current lease ends while improvements are made. Help decide what improvements need to happen at the iconic space here. 🎰

Biz

The Lakeland vintage boutique, June Taylor, is expanding its Florida footprint. You can now shop its curated furniture, hand-stitched blankets, decor, and art at The Col.lec.tive in Tampa.

Health

Eat too much Halloween candy last night? This cordless water flosser can help clean up those pearly whites. It is more effective than traditional dental floss and includes two flossing tips and two pressure settings. Bonus: This battery operated + cordless flosser is travel-friendly. 🦷*

Content marked with an * is brought to you by our advertising partners and helps make this newsletter free.

Hike, Hike Baby 🥾

Hike around Tampa Bay

Previous year's hiking Spree medallions.JPEG

Medallions from the previous year’s hikes. | Photo by Hillsborough County

Take a hike.

No, seriously. There’s no better time to trek around Tampa Bay’s best trails and unleash your wild side than right now, when the weather is a little bit drier + cooler. Hillsborough County Hiking Spree begins today. It offers people another year of exploration around 26 local trails, preserves, and locations.

Here are a few of our favorites from the list.

🏝 Egmont Key State Park

Only accessible by water
Secluded island vibes at the mouth of Tampa Bay

🌆 Ybor City Museum State Park

Links to Ybor City’s Historic Trail
Discover the Cigar Capitol of the World as you’ve never seen it before

🌲 Fred + Idah Schultz Nature Preserve

It has mangrove forests, freshwater marsh, and coastal dunes
Provides habitat for upland wildlife — including bobcats and migrating songbirds

Remember to pack water, food, sunscreen, bug spray, and binoculars for bird-watching. 🎒

You can earn your trail medallion + make reservations here.

THE WRAP

Today’s issue was written by Brad.

Editor’s pick: Happy first day of November. The biggest thing I’m looking forward to this month is Dominic Fike performing live at Jannus. I want to know who you’re looking to rock out to this winter. Hit us up. 🎵

Missed yesterday’s newsletter? Still in the mood for a good spook? Read up onTampa Bay’s most haunted buildings, here. 👻

Connect with us.

Editorial: Bailey LeFever, Brad Haft, Jessalin Heins-Nagamoto, Kaylee Holland, Ashlea Hearn, Emily Shea| Send us a scoop, question, or feedback.

Sales: Kailey Burke| Advertise with us.

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