This is your November 2024 House Rental & Sales Market Update for Tampa – St Petersburg – Palm Harbor and Nationwide.
In November 2024, the MLS has the Median Rent at $2,500 with 27 days for homes on the market. Rents have gone down 3.7% and is taking 6 less days to rent a house from the previous month. From the previous year, rents have stayed the same and is taking 6 less days to rent a house from a year ago in Tampa Bay.
In November 2024, the National Median Rent was $2,250. Compared to the previous month, rents have gone down 1.9% nationwide. Compared to the same time last year, rents have gone down 0.6% nationwide. Source: Zillow.
The Number of Eviction Filings in Tampa Bay was 1,452. Hillsborough County had 974 eviction filings and Pinellas had 478. There was a 0.5% increase in eviction filings compared to last month.
The Lease Renewal Rate for House2Home Properties as of last month is 83%.
In November 2024, the Median Sales Price was $435,000 for Tampa – St Petersburg – Palm Harbor. The Days on Market was 34 days and the Month’s Supply of Inventory was 5 Months. House prices have decreased just slightly 0.1% and is taking 1 less day to sell a home. From the same time last year, house prices have decreased 2.2% and is taking 15 days longer to sell a home from a year ago. With 5 a month’s 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 November 2024, the Median Home Sales List Price was $416,880 according to Realtor.com. That’s a 0.7% decrease from the previous year. The Days on Market was 62 days, that’s 11 days longer to sell a home from the same time last year. Nationwide, the number of new sales listings increased 2% from the previous year.
In November 2024, the Mortgage Interest Rate was 6.84% as per the St Louis Fed. The interest rate increased 0.12% from last month and decreased 0.38% from the previous year.
Okay, that’s your monthly market update for November 2024.
