Here is your October 2024 House Rental & Sales Market Update for Tampa, St Pete & Nationwide.
In October 2024, the Median Rent in Tampa & St Pete in October was $2,598 and the Days on Market was 33 days.This is from the MLS. Rents have gone up 3.9% from last month and is taking 3 days longer to rent a house. Rents have gone up 4.1% as well and is taking 5 more days to rent a house from a year ago.
In October 2024, the National Median Rent was $2,295 according to Zillow. Rents have just about stayed the same nationwide from the previous month and year.
In October 2024, the number of Evictions Filed in the Tampa Bay which was Hillsborough and Pinellas counties was 1,444. There was a 7.6% decrease in eviction filings from a month ago. Keep in mind the courthouse was closed more than normal in October due to Hurricane Milton.
Our Lease Renewal percentage as of last month remained at 83%.
Per the MLS, the Median Sales Price in October was $435,515 in Tampa Bay. The Days on Market was 35 days. House prices have remained about the same and is taking 5 days longer to sell a home. Compared to the same time last year, house prices have decreased 1% and is taking 19 days longer to sell a home from a year ago.
In October 2024, the Median Home Sales List Price was $424,950. House prices have remained the same from the previous year. The Days on Market was 58 days, that’s 8 days longer to sell a home from the previous year. The number of new sales listings increased 29.2% from the previous year nationwide. Source: Realtor.com
In October 2024, the Mortgage Interest Rate was 6.54%. From the month prior, the interest rate increased 0.45%. The previous month’s rate was 6.09%. From last year, the interest rate decreased 1.09%. The previous year’s rate was 7.63%. Source: St Louis Fed.
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