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 neutral's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

Saint Petersburg is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Saint Petersburg, FL

How much do homes in Saint Petersburg, FL cost?

Median Sold Price

$431,826

$339/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$32,023(+8.0%)

Key Takeaway

Homes in Saint Petersburg have sold for 8% more than they did a year ago.

Summary: The median home sold price in Saint Petersburg was $431,826 in February 2024, up 8% from last year, and the median price per square foot was $339.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $175.5K$178.7K
+1.9%
2 $340.1K$359.9K
+5.8%
3 $435.2K$481K
+10.5%
4 $633.9K$690.6K
+9.0%
5+ $930K$1.1M
+20.3%

Summary: Saint Petersburg housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.9%, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 20.3%.

Median Sold Price Compared To Nearby Cities

Kenneth City
+90.7%
Saint Petersburg
+8.0%
Gulfport
0.0%
Pinellas Park
-1.2%
South Pasadena
-4.6%

Housing Supply in Saint Petersburg, FL

How many homes are available in Saint Petersburg, FL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1,9282,155+11.8%

Summary: The Saint Petersburg real estate market had 2,155 homes for sale in February 2024, a 11.8% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 172218
+26.7%
2 715784
+9.7%
3 702756
+7.7%
4 243291
+19.8%
5+ 96106
+10.4%

Summary: The Saint Petersburg housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 26.7%, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 19.8%, and 5+ bedroom homes increased by 10.4%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
260323+24.2%

Asking Price vs. Sold Price

228 Homes Were Sold
Under Asking

55 Homes Were Sold
At Asking

40 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 323 homes were sold or pending in Saint Petersburg in February 2024, up by 24.2% month-over-month. Of the 323 sold homes, 71% were sold under asking, 17% were sold at asking, and 12% 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

Feb 2023Feb 2024CHANGE
42 Days50 Days+18.6%

Summary: Homes in Saint Petersburg had an average of 50 days on market in Feb 2024, up by 18.6% compared to last year.

Breakdown of Home Sale Times

163 Homes Were Sold
Under 30 Days

95 Homes Were Sold
In 30 - 90 Days

65 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 February 2024, 323 homes were sold in Saint Petersburg; 50% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 20% 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 28 Days Ago

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