Florida.Simms.com

Choose Your Lifestyle

Categories

Translator

Archives

Downtown St Petersburg Condos Rental Market Report April 1, 2012

Downtown St Petersburg Waterfront View

Downtown St Petersburg Waterfront View

 

Downtown St Petersburg  Condos Rental Market Report as of April 1, 2012

There were only 13 condo units availablefor rent in downtown St Petersburg on the first of April 2012, ranging in price from $900 to $5,000/month. The number of available units has decreased significantly over the last 2 years – a year ago there were 26 to choose from and two years ago there were 29.

The decreasing inventory in rentals and sales means higher prices, the usual response to Supply and Demand. The market is hyper local, though, and whether prices are going up or down will depend on the specific building. For more information on a particular condominium, contact The Simms Team at ALVA International, Inc. (727) 341-8400.

Most leases are for a minimum of one year.  Some condos will allow a shorter rental but only allow one rental per year. The exception to this is Signature Place, which has a minimum rental period of one month and allows 3 rentals per year.

During March 2012 there were 9 condos leased, which indicates a supply of less than 6 weeks.  Year to date 19 downtown St Petersburg condos have leased, ranging in price from $850/month to $5,500 per month.

Note: These statistics are taken from the My Florida Regional MLS, which does not include all rental transactions that take place. For this report, “downtown” is defined at the area from 5th Avenue N to 5th Avenue S, from 4th St to Tampa Bay, including both sides of the border streets.

 

 

 

Print Friendly, PDF & Email

Leave a Reply

Copyright © 2007 Florida Simms     Agent Login     Design by Real Estate Tomato     Powered by Tomato Blogs