Let's Talk Leases

How is our local area lease market doing? It appears from the charts below that we’ve had an increasing number of lease properties available since January. With 6866 properties for lease area-wide, we’re at a 10 year high. Year over year lease listings are up on a monthly basis. The increase in the number of active lease listings is in part attributable to the fact that some homeowners with properties listed for sale are also listing their homes for lease. This happens more often when they're vacant and have been sitting on the market for a while.

Another interesting data point is 65.6% of available lease listings are vacant, and 47.1% of the total lease listings have had a price drop during their time on the market.

Of course, each of the 30 cities in our area have differing stats relative to availability and pricing. To view the price distribution of lease listings by city, click: Active Residential Lease Listings​

Overall, while the number of active lease listings are up, and prices are down a bit, inventory shows that the leasing market is still more favorable to landlords.