Tampa Bay

Here's a look at the homes that caught our eye this week, including a luxury home in Sarasota with a pool that was just reduced by $100K.

Why we love it: This blue bungalow features a gracious wraparound front porch, brick fireplace and a large fenced-in yard.

Realtor: Chris Zoller and Michael Sica (Welcome Home Team) at Brainard Realty

Specs: 3 beds, 2 bath, 1,225 square feet

Notable features: Curb appeal, detached garage, neutral interior.

Photo: Karen Wernert, courtesy of Chris Zoller/Brainard Realty

Why we love it: Freshly updated, this single-story house is walking distance from downtown Sarasota and Payne Park. 

Realtor: Jacody Swor at Premier Sothebys International Realty

Specs: 2 beds, 1 bath, 1,157 square feet

Notable features: Walkable location, punchy blue exterior, fresh kitchen,  hurricane impact windows and doors.

Photo courtesy of Premier Sothebys International Realty

Why we love it: From the concrete floors to black trim, this custom townhouse is a modern dream. 

Realtor: Alex Khoyi at Realty One Group Advantage

Specs: 3  beds, 3 bath, 1,678 square feet

Notable features: Loft layout, small turf yard, modern fixtures.

Photo courtesy of Alex Khoyi/Realty One Group Advantage

Why we love it: This stucco stunner has a courtyard pool, fabulous kitchen and one-bedroom guest house.

Realtor: Judy Nimz at Michael Saunders & Company

Specs: 4 beds, 3.5 bath, 2,862 square feet

Notable features: Coastal-inspired design, lots of room for entertaining, beautiful landscaping and pool.

Photo courtesy of Judy Nimz/Michael Saunders & Company

Hot homes: 4 houses for sale in Tampa Bay starting at $360K

One luxury home in Sarasota with a pool was just reduced by $100K.

804 E. North Bay St. Photo: Karen Wernert, courtesy of Chris Zoller/Brainard Realty 

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Whether you're looking for a waterfront condo or a cozy bungalow inland, one of these homes should do the trick.

Why we love it: This cozy two-bed bungalow features curb appeal, gorgeous floors and lush landscaping. 

Realtor: Mario Banales at Align Right Realty LLC

Specs: 2 beds, 1 bath, 1,056 square feet

Notable features: Neutral interior, fresh kitchen, back deck and fenced-in yard.

Why we love it: Overlooking the water, this condo has dreamy views and a light-filled interior.

Realtor: Peter Chicouris and Anne Atkisson at Weichart, Realtors - Equity

Notable features: Adult 55+ community, large balcony, fireplace.

Why we love it: From the brick fireplace to the newly updated kitchen and baths, this house is a stunner.

Realtor: Mike Smith at Sentry Residential 

Specs: 2 beds, 2 baths, 1,148 square feet

Notable features: Farmhouse-inspired finishes, stylish kitchen, exposed beams, welcoming front porch.

Why we love it: This luxury townhouse has direct water access and features stylish, neutral finishes throughout.

Realtor: Kathy Hamilton and Paula Jones at Charles Rutenberg Realty Inc.

Specs: 3 beds, 2.5 baths, 1,920 square feet

Notable features: Marina with boat storage, built in 2016, 2-car garage.

Why we love it: This blue bungalow is made for family that likes to entertain, with its sprawling layout, generously sized rooms and private pool.

Realtor: Michael Palermo at Palermo Real Estate Professionals

Specs: 3 beds, 2.5 baths, 3,048 square feet

Notable features: Blue exterior with yellow door, private pool, pretty architectural details.

Florida Visual Marketing, courtesy of Palermo Real Estate Professionals

Hot homes: 5 houses for sale in Tampa Bay starting at $269K

We've got everything from a waterfront condo to a cozy bungalow inland.

3214 W. Tacon St.  Photo: Florida Visual Marketing, courtesy of Palermo Real Estate Professionals

It’s been a year of historically low inventory, historically high demand and historically high home prices.

Why it matters: Buyers are exhausted, and hardworking people are priced out of housing in Tampa Bay.

The region has the most expensive houses in Florida, and home values are rising faster here than in almost any other metro in the country.

Justin Ricke, who’s been a Tampa real estate agent for five years, says some homes get anywhere from three to 30 offers. And houses move off the market as quickly as they’re put on. 

"You can put a house on the market Thursday, and if you market it correctly, get multiple offers by Sunday, have a decision by Monday."

State of play: In July 2021, closed and pending sales were down across Sarasota, Manatee, Pinellas, Pasco and Hillsborough counties, according to the latest MLS data.

If this trend were to continue, it could indicate the market is cooling. But slowdowns are typical for this time of year, and July’s numbers don’t indicate a trend yet.

Yes, but: Inventory is still too low to meet demand, even if demand has temporarily cooled — and that continues to push home prices up.

Data: Florida Realtors; Chart: Axios Visuals

Of note: In July 2021, inventory was between 0.8–1.1 months' supply in each of the five counties; down 30–40% in Pinellas, Pasco and Hillsborough counties and 65% in Sarasota and Manatee counties. 

Houses went under contract in six days or less, on average.

Most single-family homes get 100% of the asking price or more.

Between the lines: People are being priced out of buying, and even renting, in the Tampa Bay area. Ricke says he gets calls daily from people, including teachers and service industry workers, looking for an affordable place to live. 

"There’s a huge segment of the working population that doesn’t have the capability to buy," Ricke says. "The people who come in and take care of you every day, they’re at risk."

The bottom line: Even if home values start to appreciate less rapidly, Tampa’s a long way from a balanced market. And buyers will continue to feel the squeeze of the inventory crunch.

Tampa Bay's hot real estate market isn't slowing down

Hardworking people are priced out of housing in Tampa Bay.

Illustration of a real estate for sale sign with a fire emoji on it.

From a cozy bungalow to a Hyde Park home with a pool and guest house, take a look at some of the best houses on the market right now.

Why we love it: This bungalow is loaded with charming architectural details, from the brick fireplace to arched doorways.

Realtor: Yassy Guerra at Midwest Management Incorporate 

Specs: 3 beds, 1 bath, 1,276 square feet

Notable features: Curb appeal, brick fireplace, built-ins, fresh kitchen.

Why we love it: If you're looking for a cool one-bed in downtown Tampa, this one might win you over with its views, vinyl plank flooring and concrete ceilings.

Realtor: Erik Short and Adam Fernandez  at Keller Williams Tampa Central

Notable features: $15K price reduction, open layout, views.

Why we love it: Built in the 30s, this house has a unique layout, exposed beams, cool fireplace and access to a private neighborhood beach.

Realtor: Helle Hartley at Century 21 Jim White & Assoc.

Specs: 3 beds, 1 bath, 1,236 square feet

Notable features: Designed by Mark Dixon Dodd 

(I think I have a crush on those floors.) Courtesy of Helle Hartley

Why we love it: The tasteful finishes, built-ins, home office space, designer kitchen and pool are just a few things to love about this stunner.

Realtor: Robbie Henderson and Travis Bell at Keller Williams South Tampa

Specs: 6 beds, 4 baths, 3,236 square feet

Notable features: Gracious front porch, gorgeous kitchen, modern light fixtures, tasteful interior.

Hot homes: 4 houses for sale in Tampa Bay starting at $220K

There's a pink bathroom you won't want to miss.

1810 W. Jetton Ave. Photo: Courtesy of Robbie Henderson

Water Street Tampa is happening, lease by lease and grand opening by grand opening. 

Construction for the $3.5 billion eat-work-play-stay development that's reshaping downtown Tampa started in 2018. Phase One will be complete by 2022.

Why it matters: The massive 56 contiguous acre development has nearly doubled the footprint of downtown Tampa and will be a showpiece for the future of sustainable urban waterfront design.

What's happening: The project is opening in phases and will eventually total 9 million square feet of commercial, residential, hospitality, entertainment, cultural and retail space, all connected by a pedestrian-focused street plan and public greenbelts. 

The project's developer, Strategic Property Partners, is a joint venture between Tampa Bay Lightning owner Jeff Vinik and partners and Cascade Investment, the investment firm funded by Bill Gates.

The latest: A Publix Greenwise Market opened in August on the ground floor of Heron, the first apartment tower to open. 

Three retail tenants recently signed leases — Orangetheory Fitness, Shortwave Coffee and Chill Bros. Scoop Shop.

And cyber-security firm ReliaQuest announced a new corporate headquarters on the top six floors at Thousand & One, the center point of Water Street.

Background: The land was mostly vacant fields and parking lots a few years ago when Vinik noticed the potential around the Lightning's Amalie Arena and its connection to the waterfront.

1 million square feet of new office space (including Tampa's first office towers in 25 years). 

1 million square feet of retail and cultural spaces. 

3,500 residences, both rental and for-sale.

692 new and 727 renovated hotel rooms, including the city's first five-star hotel, The Tampa EDITION.

How to get there: Since construction is ongoing, traffic patterns remain a challenge. But there's plenty of parking in the cruise terminal lots or at the large pay lot at Sparkman Wharf.

Water Street is also on the TECO streetcar line and a short walk from the Tampa termination of the Cross Bay Ferry. Rental scooters and bikes abound.

A walkway in Sparkman Wharf. Photo: Becca Meier/Axios

There's lots of options to eat and drink at Sparkman Wharf, the development’s restaurant hub.

Details: Built inside the old Channelside Plaza, Sparkman Wharf features chef-driven concepts in repurposed shipping containers on the waterfront, next to the cruise terminal. 

Other highlights include a covered biergarten, an outdoor stage, swing sets and an expansive lawn with games.

Jeni's - A popular Columbus, Ohio-based ice cream shop with unusual (but delicious) flavors.

A big man with white hair holds and ice cream cone.

A tourist holds an ice cream cone at Jeni's. Photo: Ben Montgomery/Axios

LightHaus Beer Garden — Draft beer flights and 813 pizza.

Gallito Taqueria — Street tacos, antojitos and sangria.

JoToro — Cornerstone Mexican provisions and tequila.

The Main Ingredient — Specialty grocer with organic, vegan, keto, gluten-free and artisanal foods.

Fit Bowl Co. — Whole-foods açaí bowls, smoothies and soft-serve.

The Battery — Sit-down restaurant featuring fine bourbon and elegant plates.

Flock and Stock — American roadside favorites.

Murph's Barbeque — Delicious smoked meats and no-frills sides.

A plate of barbecue and sides from Murph's. 

A plate of barbecue and sides from Murph's. Photo: Ben Montgomery/Axios

Naked Farmer — Build-your-own salads and bowls with fresh locally-sourced ingredients. Naked Farmer is moving from Sparkman Wharf to a dedicated spot at Thousand & One in October.

Splitsville — Bowling alley with casual eats, cocktails and beer.

Wich, Please — Savory salads and handhelds.

A sandwich and chips from Wich, Please. Photo: Ben Montgomery/Axios

Edison's Swigamajig — A satellite of the popular foodie spot Edison, Swigamajig offers cool cocktails and thoughtful seafood plates.

Whatever Pops — Gourmet ice pops, açaí bowls and coffee. 

7th + Grove South — Elevated southern and soul food, plus cocktails.

The Part-Time Lover from 7th & Grove, with deviled eggs, bacon, lettuce and tomato. Photo: Ben Montgomery/Axios

Anchor & Brine — Refined, seafood-forward menu at the base of Marriott Water Street.

SPP announced recently that Wagamama, an Asian-inspired global chain, will open its first Florida location at 1050 Water Street in early 2022. 

Noble Rice — A Tampa-based modern Japanese restaurant. The new spot will be an extension of what you love about Noble Rice, like ingredients from the Toyosu Market in Japan and sushi, with a bigger emphasis on Japanese whiskeys, sake and cocktails.

BurgerFi — Chef-crafted burgers, fancy fries and custards.

Apartments: There are four residential buildings planned for Water Street, with 3,500 apartments/condos total. All are expected to start leasing in 2021.

The exterior of Heron. Photo: Ben Montgomery/Axios

Heron has 420 apartments that are now leasing. One-bedrooms start around $2,000 a month, two-beds start around $3,000. There are also three-bed layouts and penthouse suites.

A bedroom inside the Heron apartment tower.

A two-bedroom apartment at Heron. Photo courtesy of Strategic Property Partners

A photo of Heron from the ground looking up.

The Residences at The Tampa EDITION is an exclusive condo building atop a 5-star hotel with only 37 units. Starting at $2,000,000, there are still a few available.

The private residential entryway at Tampa EDITION. Photo courtesy of Strategic Property Partners

The garden at Residences at Tampa EDITION. Photo courtesy of Strategic Property Partners

1050 Water Street will have 490 apartments, and leasing is expected to start early next year.

1050 Water Street. Rendering courtesy of Strategic Property Partners

Cora, at 1011 E. Cumberland Avenue, will have 388 new homes, from studios to three-beds. Leasing has started and the first residents have moved in.

Hotels: There are three Water Street hotels, including The Tampa EDITION, slated to open later this year.

Rendering by/courtesy of Strategic Property Partners

JW Marriott Tampa Water Street is now open. Rooms are around $300-$1,200 a night.

Tampa Marriott Water Street was the first to open with a 32-slip marina and three restaurants, including Garrison Tavern and Anchor & Brine. Rooms are around $200-$500 a night.

A view from Thousand & One overlooking a rooftop greenhouse and garden at Heron, a residential building. 

A view from Thousand & One overlooking a rooftop greenhouse and garden at Heron, a residential building. Photo: Becca Meier/Axios

Offices: Thousand & One is city's first anticipated WELL Core- and Shell-certified office building and its first trophy office tower in nearly 30 years.

Developers hope wellness — like, actual physical and mental health — will be a giant draw in a post-COVID work culture. Go deeper.

Thousand & One landscaping using plants that are native to Florida, including mature cypress trees. Photo: Seamus Payne

The building is all about wellness and sustainability, with water features, landscaped awnings and terraces, natural light, water views and indoor-outdoor spaces — all aimed at promoting health, happiness and increased productivity.

A guide leads a tour of Thousand & One. Photo: Ben Montgomery/Axios

By the numbers: The 20-story tower has 375,000 square feet of office space with 12,000 square feet of ground-floor retail.

Already leasing space are RSM, a global accounting firm, Suffolk Construction, one of the nation's leading construction companies, and Sila Realty Trust Inc., a Tampa-based real estate investment trust.

An interior shot of the lobby at Thousand and One.

The lobby at Thousand & One. Photo courtesy of Seamus Payne

400 Channelside Drive: This office tower will be 500,000 square feet in 19 stories. 

USF Health Morsani College of Medicine and Heart Institute is a 395,000-square-foot anchor of Water Street.

Of note: The lineup at Water Street and Sparkman Wharf changes. We'll keep this guide updated so check back often.

User's guide: Everything you need to know about Water Street Tampa

Land for the $3.5b project was mostly vacant fields and parking lots a few years ago.

Water Street Tampa under construction. Photo courtesy of Strategic Property Partnership

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Axios Tampa Bay, anchored by Ben Montgomery and Selene San Felice, is here to help readers get smarter, faster on the most consequential news and developments unfolding in their own backyard.

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User's guide: Everything you need to know about Water Street Tampa

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Hot homes: 4 houses for sale in Tampa Bay starting at $220K

Tampa Bay's hot real estate market isn't slowing down

Hot homes: 5 houses for sale in Tampa Bay starting at $269K