Happy Thursday!

There’s a lot happening in Pasco County this week!

We’ve got a little bit of everything: a jam-packed guide to Memorial Day weekend in Tampa Bay (think: paddleboarding at sunset, retro dance parties, and brunch with unlimited mimosas), a big upgrade for emergency response in Wesley Chapel, and a real talk look at what’s actually happening in Florida’s housing market.

Let’s dive in. ⬇️

—Sean

🚒 New Fire Station Rising in Wesley Chapel

Driving the news: Pasco County Fire Rescue broke ground on a new fire station last week, a major investment in emergency response for Wesley Chapel.

Details: The new PCFR Station 2 will span 13,840 square feet, featuring three bays to house emergency vehicles and equipment. It's being built off State Road 54, with completion expected by Winter 2026.

Why it matters: This project directly responds to Wesley Chapel's population growth, helping ensure faster response times and better coverage. It’s good news for local residents who’ll benefit from quicker, more efficient emergency services as the area continues to expand.

What’s next: Construction, led by Ajax Building Company, is officially underway. Residents can expect updates as milestones are reached over the next 18 months.

MORE→

📊 Florida's Housing Market:
Slump or Reset?

Driving the news: Florida’s real estate market is under the microscope. Rising inventory, falling sales, and price declines in key cities have sparked concern online about a looming crash.

But the picture is more layered than the headlines suggest.

Details:

• Inventory of single-family homes in Florida has jumped 363% since early 2022, from 22,000 to 102,000.

• New listings surged statewide by 38.6%, outpacing typical seasonal increases.

• Home sales are down: North Port (-17.3%), Tampa (-12.5%), Orlando (-9.5%), Jacksonville (-5.3%), and Miami (-4.3%).

• Pending sale prices are dropping in several metros: Tampa (-4.5%), Jacksonville (-2.8%), and Miami (-2.3%).

The big picture: Florida isn’t alone. Across the U.S., mortgage rate hikes have dampened buyer activity and pushed inventory up by 31% year over year.

Florida’s shift is steeper, but mirrors national trends. Hurricanes and rising insurance premiums have added local pressure, particularly in areas like Fort Myers and Tampa.

Between the lines: Social media often amplifies worst-case scenarios, but experts suggest the market is adjusting, not collapsing.

Builders and agents still see long-term value in Florida, despite short-term volatility.

What’s next: Expect continued softening in high-inventory areas, with slow rebounds in storm-hit zones.

Insurance challenges and economic uncertainty will likely remain key variables heading into the second half of 2025.

The bottom line: Florida’s housing market isn’t crashing—it’s catching its breath. For buyers, that means more options.

For the state, it’s a chance to return to a more sustainable pace of growth.

MORE→

📊 Our Current Local Market Data:

The Tampa Bay housing market is shifting into a more balanced phase after years of rapid growth. As of March 2025, the median home price is $429,575—up 4.5% year-over-year, but with a slower pace than in past years.

Inventory is rising, giving buyers more options, while homes are taking longer to sell, with a median of 33 days on the market. This offers more negotiation power for buyers, especially on listings that have been sitting for weeks.

Despite higher insurance costs and affordability concerns, Tampa remains attractive thanks to its strong job market in healthcare, tech, and finance. The region continues to grow, both economically and in population.

Sellers should focus on competitive pricing and presentation, while buyers now have better leverage. Even with current challenges, Tampa Bay is positioned for steady growth and remains a market to watch in 2025.

If you’re curious how much your home could sell for now, then reply “What’s my home value” or you can get an estimated value here.

Or if you’re just curious about how the current market affects your situation & what’s going on in your specific neighborhood, just reply & ask.

📰 In Other News:

• Drive high-performance vehicles on the track at Tampa’s 200-acre motorsports playground

• Bucs land four primetime games in an exciting 2025 schedule

• Construction Begins on State-of-the-Art PCFR Station 2 in Wesley Chapel

• Pasco launches program to lower risk of mosquito-borne disease

That’s all for today, I hope you have an amazing week!

• a custom market or home value report

• a home services list for a reliable contractor or services professional

• feedback or a professional opinion on a home project

Just let me know! We’re here to help with all your home needs.

Talk soon,

- Sean, and the Bello Home Team

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