I have your February 2025 House Rental & Sales Market Update for Tampa Bay & Nationwide.
Hi, I’m Michael Bielon with House2home Properties, with a real estate market update for February 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.
We’ll Start with the Rental Numbers from the MLS.
This is for Houses in Tampa Bay, which will be Hillsborough & Pinellas Counties:
In February 2025, the Median Rent was $2,500 and the Days on Market was 29 days.
There’s been no change in the rental market in Tampa Bay.
Compared to the previous month, rents have stayed the same and is taking 1 less day to rent a house in Tampa Bay.
Compared to the same time last year, rents have again stayed the same with no change and is taking 3 less days to rent a house from a year ago in Tampa Bay.
Here are Zillow’s National Rental Numbers for Houses (for the entire United States).
In February 2025, the National Median Rent was $2,250.
Compared to the previous month, rents have gone up slightly 0.85% nationwide.
Compared to the same time last year, just like in Tampa Bay, rents have stayed the same nationwide.
Here are the Number of Eviction Filings in Tampa Bay, this is for Hillsborough & Pinellas Counties.
In February 2025, the number of Evictions Filed in Tampa Bay was 1,419.
Hillsborough County had 996 eviction filings and Pinellas had 423.
There was a 22.3% decrease in eviction filings from a month ago in Tampa Bay.
The Lease Renewal Rate for House2Home Properties.
Our Lease Renewal percentage as of last month is 84%. A good lease renewal rate considered to be about 65% and we’re renewing 84% of our leases.
Let’s move on from the rental market to the sales market.
Now for the Sales Numbers From the MLS.
This is for Houses sold in Tampa Bay, which will be Hillsborough & Pinellas Counties:
In February 2025, the Median Sales Price was $429,337. The Days on Market was 37 days and the Month’s Supply of Inventory was 4 Months.
Compared to the previous month, house prices have increased 2.2% and is taking 2 less days to sell a home in Tampa Bay.
Compared to the same time last year, house prices have stayed about the same and is taking the same amount of time to sell a home from a year ago in Tampa Bay.
With 4 months of supply of inventory, this is still a pretty decent market in Tampa Bay.
Realtor.com’s National Home Sales (this is for the entire United States)
In February 2025, the Median Home Sales List Price was $412,000, that’s a 0.8% decrease from the previous year.
The Days on Market was 66 days, that’s 5 days longer to sell a home from the previous year.
And the number of new sales listings increased 27.5% from the previous year nationwide.
The National 30 Year Fixed Rate Mortgage (per the St. Louis Fed)
In February 2025, the Mortgage Interest Rate was 6.76%.
From the month prior, the interest rate decreased 0.19%. The previous month’s rate was 6.95%
And from last year, the interest rate decreased 0.18%. The previous year’s rate was 6.94%.
Okay, that’s your monthly market update, I hope you enjoyed this. If you need property management for your house, please reach out to me.
My name is Michael Bielon and I'm always here if you need help with your property.
Thank you for watching.