TERRACE PALMS CONDO
Homes for Sale in TAMPA, FL
True comps, carrying-cost math, and listings before the portals.
Market Heat
Terrace Palms prices off condition and unit size more than anything else. With a median price of $152,500 and a median price per square foot of $173.49 against a median living area of 1,077 square feet, the math here is straightforward, but the spread in vintage - construction dates from 1954 to 2006 with a median year built of 1983 - means two units at the same square footage can show very differently depending on how much has been updated.
A median of just over 43 days on market says this isn't a bidding-war segment. Sellers who price to condition and get the unit presentation-ready move faster; sellers who price on hope sit. For buyers, that pace leaves room to inspect thoroughly and negotiate rather than compete on speed.
The 60-Second Overview
TERRACE PALMS CONDO market snapshot (as of August 2, 2026): the median sale price is about $152K ($173 per sq ft over the trailing 12 months of closed sales), and a median 44 days on market for closed sales.
TERRACE PALMS CONDO is a community of 199 homes in TAMPA, Hillsborough County, built between 1954 and 2006 (median 1983), with a median living area of about 1,077 square feet. 36% of parcels are homesteaded, the owner-occupancy proxy in the Florida DOR assessment roll (2025 roll, public records).
Terrace Palms Condo is a 199-unit Tampa community in Hillsborough County spanning multiple decades of construction, which puts unit condition and updates - not just location - at the center of any pricing conversation here.
Who TERRACE PALMS CONDO is best for.
Best for
- Buyers focused on a lower entry price point in the Tampa condo market who are comfortable evaluating condition unit by unit
- Buyers planning to occupy rather than rely on building amenities, given none are currently identified in MLS data
- Buyers with flexibility on move-in timeline who can use the market's slower pace to negotiate on price or repairs
Probably not for
- Buyers who want a move-in-ready unit with minimal inspection needed, given the wide construction-year range
- Buyers who expect on-site community amenities as part of the purchase
- Buyers who need a fast, competitive-offer transaction; the median days-on-market here runs closer to six weeks
Price History: What Homes Here Have Actually Sold For
Median sale price over the trailing 12 months ending August 2 of each year, from record-level Stellar MLS closed sales. Same methodology as every appreciation figure on this page: the 2026 point ($152K) IS the median in the snapshot above.
Windows contain 0 to 14 sales each (4 in the current window); every figure carries its sample size, and thin markets swing on single closings. Based on Stellar MLS data distributed by MLS GRID for the period 2006 through 2026. Deemed reliable but not guaranteed.
22% of homes for sale in ZIP 33617 are already under contract (under contract ÷ under contract + active listings) — a read on how much of the available inventory buyers have already claimed. Source: MLS data (2026-08-01).
The TERRACE PALMS CONDO buying strategy.
If we were buying in TERRACE PALMS CONDO today, this is the order of operations we would run for our clients.
Underwrite the condition first. Price the roof, HVAC, and systems honestly before judging any list price; condition swings value here more than square footage alone.
Match the home to real comps. Recent sales of similar condition and lot, not the asking price, tell you what a home is worth.
Move deliberately, not desperately. Neither side has a decisive edge, so a well-prepared, fairly-priced offer wins without overpaying.
Line up financing and inspection early. A pre-approval and an inspection plan let you act fast and negotiate from evidence.
Keep an agent in your corner. The listing agent works for the seller; we represent you and prepare a hand-built valuation before any offer in TERRACE PALMS CONDO.
Condition, Not Calendar Year, Drives Value
The range of construction dates, 1954 to 2006, is wide enough that no single description fits the whole community. A median year built of 1983 puts the typical unit at a stage where mechanical systems, roofing, and finishes are common points of negotiation - buyers should expect to ask pointed questions about what's been replaced and when, unit by unit.
The homestead share sitting at 35.6% indicates a meaningful portion of current ownership is owner-occupied rather than investor-held, which is worth noting for anyone evaluating rental restrictions or building culture, though we don't have amenity data to speak to beyond noting current MLS listings don't identify any community amenities. Buyers weighing lifestyle features should verify what, if anything, the association offers directly rather than assuming.
The location and the amenities are priced into every listing in TERRACE PALMS CONDO. The deal is won or lost on condition, the comps, and the renovation math.
Why work with Momentum here
In a community with this much variation in vintage and condition, the median numbers only tell you where the middle sits - not what a specific unit is worth. We walk every listing against comparable sales inside Terrace Palms and the surrounding Tampa condo stock so you're pricing or offering against real condition-adjusted data, not the community average.
TERRACE PALMS CONDO in 15 seconds.
HOA, CDD & Fees
- Mandatory HOA — confirm current dues
- Any club/amenity membership is billed separately
Confirm the current HOA dues, exactly what they cover, and any CDD bond or special assessment for a specific address before you offer.
Tools for a TERRACE PALMS CONDO buy.
Free calculators to pressure-test the real cost before you tour.
Selling here is won on condition and pricing to real comps, not an automated estimate. The right number comes from closed TERRACE PALMS CONDO sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in TERRACE PALMS CONDO, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your TERRACE PALMS CONDO home worth?
Get a no-obligation home value based on real comparable sales in TERRACE PALMS CONDO, not an automated guess. Tell us about your home and we will personally prepare your numbers and a pricing strategy. No obligation, no spam.
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Frequently Asked Questions
What is the median home price in TERRACE PALMS CONDO?
How long do homes in TERRACE PALMS CONDO take to sell?
How many homes are in TERRACE PALMS CONDO?
What share of TERRACE PALMS CONDO is owner-occupied?
When were the homes in TERRACE PALMS CONDO built?
Do cash buyers compete in TERRACE PALMS CONDO?
Who is the best real estate agent for TERRACE PALMS CONDO?
How do I find a top TAMPA real estate agent who knows TERRACE PALMS CONDO?
Can Momentum Realty connect me with an agent for TERRACE PALMS CONDO?
Should you buy in TERRACE PALMS CONDO?
An honest fit check. We will tell you when it is not your community.
Data sources & freshness
| Community market stats | Stellar MLS closed sales, 12-month windows ending August 2, 2026 |
| Housing stock & ownership | Florida DOR 2025 assessment roll (street-list match (8 streets, ZIP 33617/34120)) |
| Under-contract shares | Stellar MLS records, as of 2026-08-01 |
| Historical depth | Closed-sale records back to 2006 (43 transactions analyzed) |
Verify the primary sources yourself: Florida DOR · U.S. Census · FEMA flood maps · Citizens Property Insurance.
Momentum Research figures are our own analysis of Stellar MLS records; MLS data is deemed reliable but not guaranteed. Methodology: how Momentum market scores are computed. Market metrics describe homes for sale and recent sales, not residents.
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The numbers on this page move markets in the aggregate. The number that matters to you is what a buyer pays for your address. Momentum sells for 1.25% above the Stellar MLS member average and 8 days faster, and we’ll price yours against live your area comps.
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See how TERRACE PALMS CONDO fits the bigger picture — live prices, inventory, and Momentum Scores: