David Moyer, Executive Vice President, Smith & Associates Real Estate

July 2026 — Invest: spoke with David Moyer, xecutive vice president of Smith & Associates Real Estate, about how Tampa Bay’s evolving neighborhoods, pricing pressures, and shifting buyer preferences are reshaping the region’s residential and mixed-use landscape. “You can’t generalize Tampa Bay with broad statistics. The market is 100% niche, so what’s happening in one zip code is completely different from what’s happening in another,” Moyer said.

What changes over the past year have most impacted the firm, and in what ways?

Smith & Associates Real Estate is a local, independent brokerage that has been in Tampa Bay for more than 55 years, so we have a real foundation and deep roots in the community. The national changes to the real estate industry have only sharpened and focused our energy on what we do best, serving our clients. 

From a market standpoint, inventory has also increased. As costs rise year after year, more owners are reevaluating whether they want to keep carrying their homes, especially with insurance-related expenses and other ownership costs. That has contributed to more inventory coming onto the market than we saw in the years leading up to 2020, and the effect varies by neighborhood and price point.

Another factor has been the short and long term impact of climate change. In beach communities, some homeowners have reconsidered what they want long-term. Many are not leaving the market entirely, but they’re moving away from the immediate coastline. That’s helping drive interest toward the urban core, especially downtown Tampa and downtown St. Petersburg. In other cases, people who were in older housing stock, like 1960s or 1970s single-family homes, are willing to sell at a higher value and move into newer products. Those lots then transition into new construction, and that wave has continued to build over the last few years.

That pipeline creates inventory, and it can also create downward pressure on lot prices because builders need the finished homes to make sense at market value. It’s one of the reasons you can’t generalize Tampa Bay with broad statistics. The market is 100% niche, so what’s happening in one zip code is completely different from what’s happening in another. One area can be benefiting while another is not, and to really understand that, you need professionals who know the market well enough to dissect it.

Which trends are most shaping the Tampa Bay market right now?

One of Tampa Bay’s strengths is that it functions more like a year-round market than many other Florida locations. It’s not a 24/7 city in the way some larger metros are, but it’s a major hub for workforce activity, primary homebuyers, and people living here full-time. When you compare that to markets like Sarasota or Naples, those areas can be more seasonal and more dependent on winter residents. Tampa Bay has a different rhythm, and that supports development and neighborhood growth in a more consistent way.

We continue to see inbound migration from Chicago, Pittsburgh, New York, and other northern markets. People are relocating for job opportunities and lifestyle. Florida offers that flexibility, and Tampa Bay has been a major beneficiary. What’s especially interesting is that Tampa still has meaningful potential for district creation and expansion, and that’s where you see long-term value being built.

You can see that across the development landscape. Midtown, Water Street, and the Marina District have changed the map. Gasworx connecting to Ybor is another major example. Armature Works has become a hub. Within these districts, you get a blend of residential, office, retail, and hospitality, and that mix creates demand. Those hubs then lift surrounding neighborhoods, including single-family housing, because people want proximity to amenities and walkable activity.

From a broader view, it’s impressive to watch the compounding effect. People who haven’t visited in 10, 15, or 20 years come back and see how much has changed. They see the investment, the momentum, and the depth of activity, and it reinforces the perception that Tampa has continued to evolve.

Education also helps drive that momentum. The University of Tampa is a strong example. It’s a beautiful location on the river, it’s a private institution, and families have a positive experience there. Parents drop their kids off and start thinking about living here as well. The University of South Florida is also growing in academics and visibility, which attracts young talent. Once you have that pipeline of talent, you also have employers and families following it over time.

Tampa benefits from its position relative to other parts of the state. Even if someone attends the University of Florida or another school nearby, Tampa is a major city they often gravitate toward after graduation. That continues to strengthen the workforce base and supports the kind of district-style growth we’ve been discussing.

What challenges are top of mind for your business and the market, and how are you finding opportunities among them?

Pricing is a major challenge. Tampa Bay has seen exponential growth over a long period, really a 10-plus-year climb, and at some point that creates strain, especially for buyers in the middle tiers. As prices push upward, more people move farther outside the core. They may want to live near the districts we’ve talked about, but the price points aren’t accessible for everyone, so they shift toward areas like Wesley Chapel, Lakeland, and other locations 30 to 50 minutes away.

That outward movement increases pressure on infrastructure, particularly roads. Tampa remains highly dependent on cars. Commuting becomes a barrier as more people rely on I-75, I-4, 275, and the Crosstown to move through the region. Traffic is part of every growing city, but what makes it more challenging here is the limited availability of alternatives. In places like Chicago, traffic is difficult too, but trains and transit options can offset some of that. Tampa doesn’t have the same scale of transit infrastructure, and that gap becomes more visible as the region grows.

Transportation also affects the visitor experience and connectivity. When people arrive at the airport, the question becomes how they get to the most popular areas without renting a car or relying entirely on rideshare. Walkability and access matter more today than they did years ago, and it impacts how people experience the market.

Regional rail and larger-scale transportation projects are important in that context. Brightline is a major topic, especially the idea of extending beyond Orlando to Tampa. If those connections come into place, they can change how people move through Florida and how Tampa is positioned relative to other major markets.

Even with these challenges, opportunity comes from staying focused on fundamentals and understanding submarkets at a granular level. Neighborhood-level knowledge matters in Tampa Bay, and the areas that attract jobs, amenities, and long-term investment tend to remain resilient.

What are your key goals and priorities for the next two to three years?

Our goals are centered on keeping momentum moving. Tampa Bay has tremendous energy right now, and the priority is to continue translating plans into execution. There are factors that can slow momentum, including construction costs and access to capital. Funding large-scale development can become more challenging depending on the financial environment, and that affects timelines and feasibility.

But when you look at Tampa, it feels like we’re in the fifth or sixth inning. The game is beyond halfway, and the pieces are in place, but the key is finishing. A number of areas are on the cusp, and the goal is to keep pushing them forward so they reach full motion.