Tampa Bay Real Estate & Mortgage Market Update – March 13, 2026: Spring Trends, Housing Market in Hillsborough, Pinellas & Pasco Counties

The Tampa Bay real estate market is seeing a seasonal surge as Spring Training and favorable weather draw new interest to the region. Across Hillsborough, Pinellas, Pasco, Polk, and Manatee counties, rising inventory levels are shifting the landscape toward a balanced environment, granting buyers greater negotiating power. Despite mortgage rates hovering around 6%, increased options and Florida’s enduring lifestyle appeal continue to drive steady demand and long-term growth throughout the Bay area.

Tampa Bay Real Estate & Mortgage Market Update – Week Ending Mar 13, 2026

For context on whether now is a good time to buy, see Redfin’s analysis: Is Now a Good Time to Buy a House?

Tampa Bay Housing Market Update

Spring is starting to wake up the Tampa Bay housing market. With Spring Training underway and beautiful weather across Florida, both buyers and sellers are re-engaging in real estate activity across the region.

Across the five major Tampa Bay counties — Hillsborough, Pinellas, Pasco, Polk, and Manatee — inventory levels are gradually increasing compared to the past few years. This is creating a more balanced environment for buyers and sellers.

More inventory means buyers now have more options and more negotiating power than they did during the extremely competitive market of 2021 and 2022.

Mortgage Rate Update

The average 30 year fixed mortgage rate is currently around 6%, while the average 15 year rate is around 5.4%–5.5%.

Mortgage rates are influenced primarily by movements in the 10-year U.S. Treasury bond, not directly by Federal Reserve policy decisions. Recent movements in Treasury yields have kept mortgage rates near the 6% range nationally.

While rates remain higher than the historic lows seen a few years ago, they are still lower than last year’s peak levels, which is helping bring some buyers back into the market as the spring season begins.

Source: Zillow Tampa Market Data

Tampa Bay Lifestyle & Demand

Spring Training continues to attract thousands of visitors to the Tampa Bay area every year. Events like these often introduce new visitors to the region who eventually explore relocating to Florida.

Tampa’s combination of lifestyle, weather, waterfront living, and economic growth continues to support
long-term housing demand.

Local Restaurant Spotlight – Lilac

Lilac – Tampa
This week’s restaurant spotlight is Lilac, located inside the Tampa EDITION hotel. Lilac is a Michelin-recommended Mediterranean restaurant known for its tasting menu experience and refined dining atmosphere.

It’s an excellent spot for celebrating special occasions — including a successful home closing

📍500W Channelside Dr, Tampa, FL 33602

Need Mortgage Guidance?

If you’re thinking about buying a home, refinancing, or relocating to Florida, I’m always happy to help answer questions and explore your options.

Rafael “Rafi” Castro
Marymont Financial Services
Phone: 813.469.7568
Phone: 813.590.0031

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