Is Saint Petersburg, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Saint Petersburg is a buyer's market

Buyer's
Market

Difference Since January 2023

At the same time last year, Saint Petersburg was a Seller's Market.

Key Takeaway

Saint Petersburg is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Saint Petersburg, FL

How much do homes in Saint Petersburg, FL cost?

Median Sold Price

$430,430

$336/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

+$34,440(+8.7%)

Key Takeaway

Homes in Saint Petersburg have sold for 8.7% more than they did a year ago.

Summary: The median home sold price in Saint Petersburg was $430,430 in January 2024, up 8.7% from last year, and the median price per square foot was $336.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $182K$177K
-2.7%
2 $335.1K$358.1K
+6.8%
3 $435K$473.8K
+8.9%
4 $634.6K$687K
+8.3%
5+ $950K$1.1M
+21.1%

Summary: Saint Petersburg housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.7%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 21.1%.

Median Sold Price Compared To Nearby Cities

Kenneth City
+87.0%
Saint Petersburg
+8.7%
Gulfport
+0.9%
Pinellas Park
-1.6%
South Pasadena
-1.7%

Housing Supply in Saint Petersburg, FL

How many homes are available in Saint Petersburg, FL?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
1,7751,965+10.7%

Summary: The Saint Petersburg real estate market had 1,965 homes for sale in January 2024, a 10.7% increase compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 161178
+10.6%
2 633730
+15.3%
3 665698
+5.0%
4 226256
+13.3%
5+ 90103
+14.4%

Summary: The Saint Petersburg housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10.6%, 2 bedroom homes increased by 15.3%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 14.4%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
343245-28.6%

Asking Price vs. Sold Price

173 Homes Were Sold
Under Asking

52 Homes Were Sold
At Asking

20 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Saint Petersburg, you may be able to get a good deal. 70.6% of homes here sold below asking price last month.

Summary: A total of 245 homes were sold or pending in Saint Petersburg in January 2024, down by 28.6% month-over-month. Of the 245 sold homes, 71% were sold under asking, 21% were sold at asking, and 8% 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

Jan 2023Jan 2024CHANGE
47 Days49 Days+5.2%

Summary: Homes in Saint Petersburg had an average of 49 days on market in Jan 2024, up by 5.2% compared to last year.

Breakdown of Home Sale Times

119 Homes Were Sold
Under 30 Days

85 Homes Were Sold
In 30 - 90 Days

41 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Saint Petersburg are selling fast, if you're buying plan to act quickly.

Summary: During January 2024, 245 homes were sold in Saint Petersburg; 49% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 25 Days Ago

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