I have you’re January 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 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.
We’ll Start with the Rental Numbers from the MLS.
This is for Houses in Tampa Bay, which will be Hillsborough & Pinellas Counties:
In January 2025, the Median Rent was $2,500 and the Days on Market was 30 days.
Compared to the previous month, rents have gone down 1.9% and is taking 1 day longer to rent a house in Tampa Bay.
Compared to the same time last year, rents have stayed the same and is taking 2 days longer 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 January 2025, the National Median Rent was $2,231.
Compared to the previous month, rents have gone down slightly 0.8% nationwide.
Compared to the same time last year, rents have gone up 1.4% nationwide.
Here are the Number of Eviction Filings in Tampa Bay, this is for Hillsborough & Pinellas Counties.
In January 2025, the number of Evictions Filed in Tampa Bay was 1,826.
Hillsborough County had 1,263 eviction filings and Pinellas had 563.
That’s a lot of eviction filings last month.
It’s a 9.7% increase from a month ago in Tampa Bay.
The Lease Renewal Rate for House2Home Properties.
Our Lease Renewal percentage dropped slightly, but is still very good. We’re renewing 82% 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 January 2025, the Median Sales Price was $420,000. The Days on Market was 39 days and the Month’s Supply of Inventory was 5 Months.
Compared to the previous month, house prices have decreased 4.5% and is taking 4 days longer to sell a home in Tampa Bay.
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 in Tampa Bay.
With 5 months of supply of inventory, this would be considered a Neutral Market in Tampa Bay.
Realtor.com’s National Home Sales (this is for the entire United States)
In January 2025, the Median Home Sales List Price was $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 from the previous year.
And the number of new sales listings increased 24.6% from the previous year. So more inventory is hitting the market nationwide.
The National 30 Year Fixed Rate Mortgage (per the St. Louis Fed)
In January 2025, the Mortgage Interest Rate was 6.95%.
From the month prior, the interest rate increased slightly 0.1%. The previous month’s rate was 6.85%
And from last year, the interest rate increased 0.26%. The previous year’s rate was 6.69%.
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.