Tampa, FL 33609 Real Estate Market Report

ZIP Code: 33609
Report Date: March 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of March 2026, the real estate market in Tampa, FL (ZIP: 33609) reflects a median sold price of $749,950, indicating a notable shift in market dynamics. The neighborhood has decreased 8% since 2022, suggesting a cooling trend in property values. This decline in sold prices, coupled with elevated inventory levels, indicates a market transitioning towards a more balanced or potentially buyer-favorable environment.

Transaction activity appears moderate, with median days on market extending to 319 days, which points to slower sales velocity. The current median listing price stands at $999,950, creating a significant pricing gap that may reflect seller expectations not aligning with buyer sentiment. Additionally, the median market rent is recorded at $2,340, which, alongside rising interest rates, may further impact buyer affordability and market participation.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Tampa FL 33609 area average around 6.62% to 6.92%, which is slightly higher than some reported 2026 origination rates as low as 5.500% for property owners in this market.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price of $749,950 indicates a decreasing trend in property values, down 8% since 2022.

2. With a median days on market of 319, the market is experiencing slower sales velocity compared to previous periods.

3. The median listing price of $999,950 suggests a significant gap from the sold price, indicating potential pricing friction in the market.

4. Current median market rent is $2,340, which may influence buyer decisions amid elevated interest rates.

5. The overall market temperature is neutral, reflecting balanced conditions despite elevated inventory levels.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.