Rental Marketing Aug 31, 2023 vs. Aug 31, 2024
(sourced from MLS)
Listing Units: 1267 vs. 1918
Median Days on Market: 24 vs. 30
Median List Price: $3,600.00 vs. $3,325.00
Median List $ / SqFt: $3.48 vs. $3.62
Closed Units (Sold): 6421 vs. 6370
Median Days on Market: 19 vs. 23
Median Days to Offer: 16 vs. 20
Median Sale Price: $3,200.00 vs. $3,300.00
Median Sale $ / SqFt: $3.69 vs. $3.84
Key Takeaways:
- The rental market shows reduced inventory as listings dropped significantly.
- Rental prices are up for listed units, but closed rental prices show a slight decline.
- The market is moving faster, with shorter days on the market and quicker offers.
- Price per square foot is declining for both listings and closed rental units, indicating a possible softening in rental pricing pressures despite higher listing prices.
