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🚀 Tampa Home Values Soar, Water Supply Plans & Weekend Fun in Pasco

🚀 Tampa Home Values Soar, Water Supply Plans & Weekend Fun in Pasco

Check out what's happening in the Pasco and Tampa economies this week.

Sean Bates
March 06, 2025

Happy Thursday!

Spring is in full swing, and there’s a lot happening in Tampa Bay! This week, we’ve got a mix of weekend plans, big-picture growth trends, and a closer look at Tampa’s rising home values.

First up—Wesley Chapel is packed with events. Whether you’re up for a craft beer adventure at the Kaleidoscope Beer Fest, a laugh at Side Splitters Comedy Club, or a stroll through the Harvest Market, there’s something for everyone. Plus, classic car lovers, cornhole champions, and Disney music fans—yes, there’s something for you too.

Meanwhile, Tampa’s water demand is projected to hit 332 million gallons a day by 2044. With rapid growth in South Hillsborough and Pasco, the region is investing in major infrastructure projects to keep up.

And finally, Tampa’s home values have skyrocketed 58% since 2020, putting the city among the top in the U.S. While prices have stabilized, homeowners are still seeing strong equity gains.

Let’s dive into the details!

—Sean

🍻 Weekend Plans? Here Are Some Events in Wesley Chapel to Check Out

Kaleidoscope Beer Fest

Experience a sensory adventure featuring hidden gems from Tampa Bay's local breweries and some of the biggest names in craft beer. Enjoy live art created by local artists, with an opportunity to take a one-of-a-kind piece home.
📍 Location: Florida Avenue Brewing Co., 2029 Arrowgrass Drive, Wesley Chapel, FL
📅 Date & Time: March 7, 6:00 PM - 10:00 PM
🎟️ Tickets: Check website for pricing
🌐 Website: KALEIDOSCOPE BEER + ART FESTIVAL | Florida Avenue Brewing

Side Splitters Comedy Club Presents: Mike Cronin

Through years of road work, Mike Cronin has become one of the funniest, most well-respected comedians working today.
📍 Location: Side Splitters Comedy Club at the Grove, 6333 Wesley Grove Blvd., Wesley Chapel, FL
📅 Date & Time: March 6-8, 8:00 PM
🎟️ Tickets: $23.50
🌐 Website: Stand Up Comedy Club The Grove at Wesley Chapel | Side Splitters

Harvest Market

Discover over 60 vendors, including artists, artisans, makers, and crafters, in a vibrant community market.
📍 Location: The Grove at Wesley Chapel, 6105 Wesley Grove Blvd., Wesley Chapel, FL
📅 Date & Time: March 9, 10:00 AM - 2:00 PM
🎟️ Tickets: Free
🌐 Website: https://www.facebook.com/flpenguinmarkets

Classics at the Krate

A must-see event for car lovers, featuring classic, antique, rod, and custom cars. Open to all vehicles.
📍 Location: Krate at the Grove, 6105 Wesley Grove Blvd., Wesley Chapel, FL
📅 Date & Time: March 11, 6:00 PM - 9:00 PM
🎟️ Tickets: Free
🌐 Website: Classics at the Krates | FLA Car Shows

Cornhole Tournament

Test your skills at the Shops at Wiregrass cornhole tournament. Compete solo or with a partner for prizes.
📍 Location: Shops at Wiregrass on Piazza Avenue, Wesley Chapel, FL
📅 Date & Time: March 11, 7:00 PM - 10:00 PM
🎟️ Tickets: $10, register online or at 6:15 PM before the tournament
🌐 Website: The Shops at Wiregrass ::: Events ::: Cornhole Tournaments 2025

Game Night at the Grove: Disney Music Bingo

Enjoy a fun game night featuring Disney-themed music bingo. No reservations required.
📍 Location: 6333 Wesley Grove Blvd., Wesley Chapel, FL
📅 Date & Time: March 12, 7:30 PM
🎟️ Tickets: Free
🌐 Website: Wesley Chapel The Grove 16

🏡Stunning 4-Bedroom Home in Colony Lakes for $365K!

Welcome to this exceptional 4-bedroom, 2-bathroom home in New Port Richey's highly desirable Colony Lakes community. Nestled on a peaceful cul-de-sac, this home combines modern updates with a serene setting, offering a move-in-ready haven for its new owners.

This home offers not just a place to live, but a lifestyle filled with comfort, connection, and natural beauty. Schedule your private showing today and experience it for yourself—you’ll be happy you did!

📍11948 Palm Bay Ct, New Port Richey, FL 34654

💧 Tampa Bay Water Demand Expected to Reach 332 Million Gallons a Day

Driving the news: As the Tampa Bay region grows, so does its need for water. Tampa Bay Water (TBW) has updated its long-term forecast, projecting a demand of 332 million gallons per day (mgd) by 2044.

While this is slightly lower than last year's estimate, the trend still points to rising consumption.

Details:

TBW’s forecast considers data from local governments, economic research, and agencies like the U.S. Census and Department of Transportation.

Outdoor irrigation restrictions in 2024 led to a minor dip in demand projections.

South Hillsborough and Pasco counties are experiencing the fastest growth, driving much of the increase.

TBW has been refining its demand forecast annually since 2009.

Projected water needs:

2026: 209.71 mgd
2027: 213.96 mgd
2028: 291.01 mgd
2029: 223.29 mgd
2030: 227.32 mgd
2031: 231.08 mgd

Why it matters: Ensuring a stable water supply is critical to supporting the Tampa Bay area's continued growth. TBW’s planning efforts help avoid shortages, keeping homes, businesses, and industries running smoothly.

Investing in water infrastructure also strengthens local resilience against droughts and population surges.

The big picture:

To meet rising demand, TBW is implementing major projects, including:

Expanding the Tampa Bay Regional Surface Water Treatment Plant by 10 million gallons per day by 2028.

Constructing a $505.7 million, 26-mile pipeline to deliver up to 65 million gallons daily to Hillsborough County by the end of 2028.

Exploring seven additional projects, including expanding the desalination plant and developing new water treatment facilities.

What’s next: TBW remains confident in its ability to supply water reliably, despite a Florida TaxWatch report warning of nearly $2 billion in critical water projects statewide.

Officials emphasize that strategic planning will continue to match future needs.

The bottom line: Water demand in the Tampa Bay area is rising, but TBW is staying ahead of the curve with infrastructure investments and careful forecasting.

Residents and businesses can expect a stable water supply for decades to come.

📈 Tampa Ranks Among Top U.S. Cities for Home Value Growth

Driving the news: Tampa’s housing market has seen home values soar by 58% since early 2020, making it one of the fastest-growing metro areas in the country, according to Zillow.

Details:

Tampa joins Miami, Charlotte, and San Diego among cities with the highest appreciation in home values since the pandemic.

Despite this surge, home prices have stabilized, with the average home value in Tampa currently at $371,271—down 0.8% from last year.

Rent prices remain strong, averaging $2,100 per month, though they have dipped slightly year-over-year.

Why it matters: Tampa’s rapid home value growth has fueled local economic expansion, benefiting homeowners and increasing demand for housing-related services.

Even with signs of cooling, property values remain well above pre-pandemic levels, ensuring strong equity gains for residents.

The big picture: Nationwide, home values have climbed 45.3% since 2020, packing a decade’s worth of typical growth into just five years.

Meanwhile, rents in major U.S. cities, including Tampa, have jumped 33.4%, with some areas seeing spikes of over 50%.

What’s next: While Tampa’s market shows signs of cooling, continued population growth and demand for housing could sustain long-term stability in prices.

Potential homebuyers may find more opportunities as the market shifts toward a more balanced pace.

📊 Our Current Local Market Data:

The Tampa Bay housing market is undergoing a transition after years of rapid growth. Home prices have moderated, with the median sale price in Tampa reaching $485,000 as of late 2024—a 21.3% year-over-year increase but at a slower growth rate than in previous years.

Increased inventory, up 7.3% compared to pre-pandemic levels, offers buyers more options. However, homes are staying on the market longer, reflecting a shift toward a more balanced market. Despite cooling trends, Tampa remains appealing due to its strong economy, population growth, and lifestyle offerings.

Several factors are shaping the current landscape. Tampa's job market is thriving, particularly in healthcare, technology, and financial services. The region continues to attract new residents, with its population expected to exceed 25 million by 2030.

Interest rates are stabilizing, and a surge in new construction is set to alleviate housing supply pressures. However, recent hurricanes have influenced buyer sentiment and increased insurance costs, adding layers of complexity to the market dynamics.

For buyers, increased inventory means more negotiating power and opportunities, especially for homes on the market for 45+ days.

Sellers, meanwhile, should focus on competitive pricing, curb appeal, and working with experienced agents to navigate the changing landscape. Looking ahead, Tampa is poised for steady growth, remaining a top real estate market to watch in 2025 despite challenges like affordability concerns and rising costs.