Robert O’Connor from Robb Luxury Home Group, a real estate professional serving the Greater Tampa Bay Area, is sharing his insights into the future of the Tampa Bay luxury real estate market.
Rising mortgage rates over 2022 and the fears of an impending recession later in 2023 have caused a decline in the demand for homes all over the United States. While in April of this year, the median sale price of US homes was down an average of 4.2% compared to the same time last year, the fall in prices has not affected all kinds of homes equally.
“The luxury real estate market,” Robert says, “is stronger than ever, especially in areas such as Tampa which have a growing labor market and low inventory of high-end units. As people from all parts of the country move here for the promise of an upgraded and refined lifestyle, those with well-maintained and updated properties in the most desirable areas are still calling the shots when it comes to home pricing.”
According to the trend analysis posted on the real estate broker’s website, the market for single-family and attached homes in Tampa is still a seller’s market with a sales ratio of 25% and 29% respectively. As of December 2022, homes in Tampa were still selling above 98% of the list price though the number of median days on the market has increased from the same time a year ago.
Robert O’Connor breaks down the numbers for property owners by saying, “If you own a luxury property in Tampa, you are still in control. While it is natural to be apprehensive due to higher interest rates and the bleak projections about the economy’s future that are being bandied about in the media, there isn’t a better time than now to kick off a major life change and make the most of your property investment. To find out more, visit our YouTube channel at This is Tampa TV.”
Robert O’Connor has years of experience helping high net-worth clients navigate the Tampa Bay real estate market and secure everything from sprawling golf course estates to waterfront properties, and everything in between. As a part of the world's largest residential Brokerage & Advisory company, Coldwell Banker, Robert attributes his success to his unique combination of new-school, advanced marketing techniques with an old school, concierge level of service.
Several of Robert’s clients have thanked him for helping them start a brand-new lifestyle in beautiful Tampa Bay and nearby areas. The Google Business Profile for Robb Luxury Home Group also sits at a perfect overall rating of 5.0 out of 5.0, full of reviews from clients who note Robert’s professionalism, eye for real estate, and responsive customer service.
One Google review says, “Rob stands out among agents. I told him what I was looking for and he delivered. I was moving from out of state and scheduled a Saturday with Rob to purchase a home. He took me to several houses that I selected. Then he said I have the perfect neighborhood for you. I purchased my home in the neighborhood he recommended. He stayed with me through the entire purchase of my home. I will be using Rob on my next home purchase!”
Another testimonial highlighted on his website says, “Robert O'Connor is an amazing Agent, whether you are buying or selling a home. He pays attention to detail, is very knowledgeable, personable, and provides the individual attention that you require to get your job done.”
https://www.youtube.com/watch?v=7ZLBTB78K2I
Readers can get in touch with Robert O’Connor at (813) 928-6745 or visit the Tampa Bay New Construction Home Resource Information Center at Tampa Premium Outlets in Lutz, FL.
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For more information about Robb Luxury Home Group - Coldwell Banker Realty Tampa, contact the company here:
Robb Luxury Home Group - Coldwell Banker Realty Tampa
Robert O'Connor
(813) 928-6745
robert.oconnor@cbrealty.com
19026 Bruce B Downs Blvd.
Tampa, FL 33647
