Here is your June 2024 market update.
In June 2024, the median rent for Tampa – St Pete – Palm Harbor area per the MLS was $2,600. The days on market was 22 days.in May. Rents have increased just slightly by 0.19% from last month but is taking 5 less days to rent a home. In comparison to last year, rents have stayed the same and is taking 2 days longer to rent a house.
Per Zillow, the median rent nationwide in June was $2,375. Rents have gone up 1.58% from last month and remained the same from a year ago nationwide.
In June, there were 1,588 evictions filed in the Tampa – St Pete – Palm Harbor area which is a 2.5% decrease from a month ago.
House2home Properties Lease Renewal Rate is very good as of June. Our property management company is renewing 83% of leases.
In June, the median price for houses sold in the Tampa – St Pete – Palm Harbor area was $450,000 per the MLS. The days on market was 21 days and there was a 3 months supply of inventory. Compared to last month, house prices have stayed the same and is taking 3 less days to get a home sold. In comparison to last year, house prices have gone up 1.12% and is taking 9 days longer to sell a home.
The median list price in June was $445,000 per Realtor.com. There was no change in the price from last year. The Days on Market was 45 days which is 2 days longer from the previous year. The number of new sales listings jumped up 36.7% in comparison to last year.
As per the St Louis Fed, the 30-year fixed rate mortgage in June was 6.89%. There was a slight decrease of 0.05% in the interest rate from last month but an increase 0.22% from last year.
I hope you enjoyed the market update for June 2024. If you need property management for your house, please reach out to us.
