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Downtown St Petersburg Condo Rentals Market Report April 2009

Downtown St Petersburg CondosDowntown St Petersburg condo rentals – Market Update – April 2009

At the end of April 2009 there were 44 condos offered for rent in the MLS in downtown St Petem according to the MLS , slightly less than the 46 a month before. They range from $750/month for a 1 bedroom unit to $4,800/month for a 3 bedroom unit, showing a decrease from last month.

13 condos rented during April, ranging from $850/month to $3,300/month. The majority were 1 bedroom units. There is currently a 2 month supply of 1 bedroom units, a 3.5 month supply of 3 bedroom units, and a 13 month supply of 2 bedroom units.  Condos with the most available units for rent are Bayfront Tower, the Madison, McNulty Station and Parkshore Plaza, with 6 each, and 400 Beach with 5 units offered for rent.

The average rental condo in downtown St Petersburg offered for rent is 1,644 sf at $2,304/month. The average condo rented during April had 1,291 sq ft and rented for $1,569.  Just as in condos for sale, it’s the lower prices that are moving.

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