Pardo Calistri Group’s Complete Home Buying Guide for Downtown Tampa

The secret is out. Never has there been a better time to live, work, and play in downtown Tampa.

This burgeoning city of nearly 385,000 people is attracting attention and top rankings across industries in 2022. Bankrate names Tampa as the 5th best place to live in America for its open-minded equality, educational and professional opportunities, and the added perk of no state income tax. Situated on Hillsborough Bay at the mouth of Hillsborough River, Tampa is a watersports and outdoor recreation playground. Wallethub named the city as the 4th best get-out-and-play destination in America. As all of America has seemed to be packing up and moving to find new opportunities in new locales post-pandemic, Tampa has been the 2nd most popular relocation destination, coming in right behind the Florida coastline sister city of Miami.

If you are interested in Tampa luxury homes, read on for the Pardo Calistri Group’s guide to what makes downtown Tampa such an excellent place to live.

An excellent economy


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Tampa has long prized its reputation as the “Wall Street of the South,” attracting industry leaders in the finance and technology markets, but banking and finance are not the only industries contributing to the strong economy and growth mindset of Tampa. University of South Florida’s Health department and the University of Tampa’s College of Natural and Health Sciences are leading the way in biological research and development.

Tampa is ranked as one of the top technology industry “hot spots” in the United States. Dozens of companies have chosen Tampa as the ideal location for their corporate headquarters, so chances are good that you’ll be mingling with the folks of such diverse companies as Citigroup, USAA, and Amazon. Additionally, the presence of MacDill Air Force Base has led to a strong defense industry, the development of intelligence, and one of the nation’s largest veteran work forces.

Downtown living


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Downtown Tampa real estate is beautifully situated on the waterfront of Hillsborough River on the west, and Garrison Channel wraps around downtown to the south and east. Here, residents and visitors alike will find a lively cultural scene.

Enjoy outdoor art along the Tampa Riverwalk or browse the galleries of the Tampa Museum of Art or Mergeculture Gallery. See a live staged performance in a variety of urban theaters. Enjoy globally inspired cuisine at a host of upscale or casual dining restaurants. Explore the Glazer Children’s Museum or The Florida Aquarium with the whole family.

Tampa’s downtown area ranks high in walkability, meaning you can park your car in the garage and leave it there until your next road trip, and easy access to stores and attractions leaves everything you need right at your fingertips. Public transportation via the nostalgic TECO streetcar system can deliver you right to the door of your favorite boutiques, restaurants, and entertainment venues.

Schools


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If you are considering moving to downtown Tampa with your family, you will find quality educational opportunities available throughout all the stages of learning. Downtown Tampa is served by the Hillsborough County School District, and several top-rated schools are located in this area.

If you are looking for private school education, consider Tampa Preparatory, St. Peter Claver Catholic School, St. John’s Episcopal Parish Day School, or Icon Preparatory School. With a variety of educational structures and class sizes, you’ll find plenty of options to optimize your child’s learning and get them involved in extracurricular activities.

Education doesn’t stop with high school graduation in Tampa. Tampa is a university town, home to the University of Tampa, located in the heart of downtown, and the University of South Florida, as well as a variety of other technical and vocational schools.

New developments


Tampa is poised and prepared to continue welcoming new residents and guests into the city. Multifaceted renovation and expansion projects are underway at the Tampa Airport and Tampa Convention Center, making Tampa even more accessible for growth. A unique and sustainable urban development project is underway for Water Street as well. The cityscape currently underway seeks to draw people to the waterfront with tree-lined avenues, provide pedestrian accessibility, and provide opportunities for new business and residential development. Tampa is seeking to redefine downtown Tampa real estate, and in so doing, provide a model for other growing cities across America.

Cost of living


The cost of living in Tampa is on par with national averages in a number of key categories. While groceries and transportation may be slightly higher than in other parts of the country, housing, healthcare, and utility costs are slightly below average. Overall, Tampa is a very affordable place to live, and the comparatively modest pricing of real estate, combined with the current and anticipated growth and development, make Tampa a great place to invest.

Market trends


Youthful vibrancy and the question, “What’s next?” seem to pervade development and the Tampa real estate market. As of July 2022, the median sales price of single-family homes in the Tampa-St. Petersburg-Clearwater area was $415,000, which is a 22.8% increase from July 2021. The median time to contract was just eight days, and the median time to sale was 47 days. Available inventory has also improved slightly, with a 1.7% increase in new listings since last year.

What does all of this mean?  Tampa is on the move, and the competition provided by increasing inventory has begun to make the market more favorable for buyers and move it back into a healthy balance between buyers’ and sellers’ markets.

Come see Tampa for yourself


You must be thinking, “Surely all of this is too good to be true!” We assure you, it is not, and we cordially invite you to come and experience Tampa for yourself. The agents at the Pardo Calistri Group are the experts at everything “Tampa” and would love the opportunity to introduce you to all that this gorgeous city has to offer you. Whether you are looking to relocate, make wise financial investments, or are considering a second home among hip, urban downtown Tampa real estate, the team can answer all of your questions and guide you through every step of the process. Get started today!

*Header photo courtesy of The Pardo Calistri Group




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