This is the real estate Market Update for December 2024 for Tampa, St Pete & Nationwide.
Here are the Rental Numbers from the MLS. This is for Houses in Tampa Bay, which will be Hillsborough & Pinellas Counties. The Median Rent in December was $2,550 and the Days on Market was 29 days. In comparison to the previous month, rents have gone up 2% and is taking 2 days longer for a house to rent. In comparison to last year, rents have gone up 2.2% and is taking 4 less days to rent a home.
Zillow has the nationwide median rent In December at $2,250. Rents have remained steady with no change nationwide.
In December 2024, the number of Evictions Filed in Tampa Bay was 1,664. There was an over 14% increase in eviction filings from a month ago in Tampa – St Pete.
The Lease Renewal Rate for House2Home Properties is 83%.
As far as sales for Tampa – St Petersburg, the Median Sales Price in December was $440,000 according to the MLS. The Days on Market was 35 days and there was a 3 months’ supply of Inventory. House prices have increased slightly compared to last month by 1% and is taking just 1 days longer to sell a home. From last year, house prices have increased 1.38% and takes 10 days longer to sell a house. That said, Tampa Bay’s sales market is doing pretty well compared to the rest of the country.
So let’s look at what home prices are doing nationwide.
Realtor.com has the National Home Sales List Price at $402,502 for December. That’s a 1.8% decrease from last year. The Days on Market was 70 days which is 9 days longer from last year. The number of new sales listings increased 22% from the previous year nationwide.
The National 30 Year Fixed Rate Mortgage as per the St. Louis Fed in December was 6.85%. From the month prior, the interest rate remained the same and from last year the interest rate increased 0.18%.
Okay, that’s your monthly market update for December 2024, I hope you enjoyed this.
