Hi, I’m Michael Bielon with House2home Properties, with a real estate market update for January 2025.
We manage single family homes in Tampa Bay and we’ll go over the median rents for single family homes, eviction filings, the sales market and interest rates.
In January, the Median Rent in Tampa, St Pete, Clearwater was $2,500 and the Days on Market was 30 days. When compared to last month, rents have gone down 1.9% and is taking 1 day longer to rent a single family home. From this same time last year, rents have stayed the same and is taking 2 days longer to rent a house.
In January Zillow has the National Median Rent at $2,231. Rents have gone down slightly 0.8% nationwide when compared to last month and have also gone up 1.4% when compared to a year ago.
In January 2025, the number of Evictions Filed in Tampa, St Pete, Clearwater was 1,826. That’s a lot of eviction filings in January of 2025. It’s a 9.7% increase from a month ago in Tampa Bay.
Our Lease Renewal percentage dropped slightly, but is still very good. We’re renewing 82% of our leases.
In January, the Median Sales Price was $420,000. The Days on Market was 39 days and the Month’s Supply of Inventory was 5 Months. This is per the MLS. House prices have decreased 4.5% and is taking 4 days longer to sell a home compared to last month. When compared to the same time last year, house prices have decreased 1.1% and is taking 7 days longer to sell a home from a year ago. January had 5 months supply of inventory which would be considered a Neutral Market in Tampa Bay.
In January Realtor.com had the Median Home Sales List Price at $400,500. That’s a 2.2% decrease from the previous year. The Days on Market was 73 days, that’s 5 days longer to sell a home compared to last year. New sales listings increased 24.6% from the previous year so more inventory is hitting the market nationwide.
In January 2025, the Mortgage Interest Rate was 6.95%. The source is the St Louis Fed. The interest rate increased slightly 0.1% from last month and increased 0.26% from last year.
Okay, that’s your monthly market update for January 2025.
My name is Michael Bielon and I'm always here if you need help with your property.
