Is Saint Petersburg, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Saint Petersburg has remained a Seller's Market.
Key Takeaway
Saint Petersburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Saint Petersburg, FL
How much do homes in Saint Petersburg, FL cost?
Median Sold Price
$439,974
$345/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Saint Petersburg have sold for 10% more than they did a year ago.
Summary: The median home sold price in Saint Petersburg was $439,974 in May 2024, up 10% from last year, and the median price per square foot was $345.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $175K | 0.0% |
| 2 Bedrooms | $344.6K | $357.2K | +3.7% |
| 3 Bedrooms | $439.1K | $491.1K | +11.8% |
| 4 Bedrooms | $629.7K | $760K | +20.7% |
| 5+ Bedrooms | $950K | $1.1M | +15.8% |
Summary: Saint Petersburg housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 20.7%, and 5+ bedroom homes increased by 15.8%.
Median Sold Price Compared To Nearby Cities
| Kenneth City | $230K | $330K | +43.5% |
| Saint Petersburg | $400K | $439.9K | +10.0% |
| Pinellas Park | $318K | $325K | +2.2% |
| Gulfport | $398.8K | $400K | 0.3% |
| South Pasadena | $389K | $346.5K | -10.9% |
Housing Supply in Saint Petersburg, FL
How many homes are available in Saint Petersburg, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2,346 | 2,399 | +2.3% |
Summary: The Saint Petersburg real estate market had 2,399 homes for sale in May 2024, a 2.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 210 | 219 | +4.3% |
| 2 Bedrooms | 822 | 834 | +1.5% |
| 3 Bedrooms | 867 | 871 | 0.5% |
| 4 Bedrooms | 334 | 341 | +2.1% |
| 5+ Bedrooms | 113 | 134 | +18.6% |
Summary: The Saint Petersburg housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.3%, 2 bedroom homes increased by 1.5%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 18.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 472 | 434 | -8.1% |
Asking Price vs. Sold Price
286 Homes Were Sold
Under Asking
88 Homes Were Sold
At Asking
60 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Saint Petersburg, you may be able to get a good deal. 65.9% of homes here sold below asking price last month.
Summary: A total of 434 homes were sold or pending in Saint Petersburg in May 2024, down by 8.1% month-over-month. Of the 434 sold homes, 66% were sold under asking, 20% were sold at asking, and 14% were sold over asking.
Days on Market for Saint Petersburg, FL
How long does it take to sell a home in Saint Petersburg, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 32 Days | 50 Days | +56.8% |
Summary: Homes in Saint Petersburg had an average of 50 days on market in May 2024, up by 56.8% compared to last year.
Breakdown of Home Sale Times
223 Homes Were Sold
Under 30 Days
127 Homes Were Sold
In 30 - 90 Days
84 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Saint Petersburg are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 434 homes were sold in Saint Petersburg; 51% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
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