Hi, I’m Michael Bielon with House2home Properties, with a real estate market update for March 2025.
We manage single family homes in Tampa Bay and we’ll go over the rental market, the eviction filings, the home sales and interest rates.
Let’s start with the Tampa Bay rental market from the MLS which will be Hillsborough & Pinellas Counties. The median rent in March 2025 was $2,577 and the days on market was 25 days.
Compared to the last month, rents have gone up 3% and is taking 4 less days to rent a house in Tampa Bay. Compared to the same time last year, we’re looking at the same. Rents went up 3% with 4 less days to rent a house in Tampa Bay.
Let’s move on to the national rental market for houses. These are Zillow’s numbers for the entire United States. The national average rent was $2,275 in March 2025.
Compared to the previous month, rents have gone up 1.1% nationwide. Compared to the same time last year, rents have gone down a little, 0.8% nationwide.
Here are the number of eviction filings in Tampa Bay. This is for Hillsborough & Pinellas counties. In March 2025, the number of evictions filed in Tampa Bay was 1,397.
Hillsborough County had 973 eviction filings and Pinellas had 424.
There was a 1.5% decrease in eviction filings from a month ago and a 7% decrease from a year ago in Tampa Bay.
The Lease Renewal Rate for House2Home Properties as of March 2025 remains good at 84%.
Let’s move on from the rental market to the sales market.
For Houses sold in Tampa Bay, which will be Hillsborough & Pinellas counties, the Median Sales Price in March 2025 was $420,000. The Days on Market was 32 days and the month’s supply of inventory was 4 months.
Compared to last month, house prices dropped 2.1% and is taking 5 less days to sell a home in Tampa Bay. Compared to March of last year, house prices have decreased 5.1% and is taking 7 days longer to sell a home from a year ago in Tampa Bay.
As far as home sales nationwide, Realtor.com has the median home sales list price at $424,900 for March 2025. That is no change at all from the previous year.
The Days on Market was 53 days. That’s 3 days longer to sell a home from the previous year. The number of new sales listings increased 10.2% from the previous year nationwide.
The National 30 Year Fixed Rate Mortgage (per the St. Louis Fed) in March 2025 6.67%. Last month’s rate was 6.76%. The rate decreased slightly by .09%. From last year, the interest rate decreased 0.2%. The previous year’s rate was 6.87%.
That’s your monthly market update for March 2025. 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.
