Is Saint Petersburg, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$434,817
$340/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
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 $434,817 in March 2024, up 8.7% from last year, and the median price per square foot was $340.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175.6K | $175.2K | -0.2% |
| 2 Bedrooms | $343.6K | $359.5K | +4.6% |
| 3 Bedrooms | $439.8K | $479.9K | +9.1% |
| 4 Bedrooms | $637.1K | $729.8K | +14.5% |
| 5+ Bedrooms | $940K | $1.1M | +17.0% |
Summary: Saint Petersburg housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.2%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 14.5%, and 5+ bedroom homes increased by 17%.
Median Sold Price Compared To Nearby Cities
| Kenneth City | $175K | $328K | +87.4% |
| Saint Petersburg | $399.9K | $434.8K | +8.7% |
| Gulfport | $396.7K | $399.2K | +0.6% |
| Pinellas Park | $322.5K | $317.8K | -1.5% |
| South Pasadena | $392K | $345K | -12.0% |
Housing Supply in Saint Petersburg, FL
How many homes are available in Saint Petersburg, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2,171 | 2,293 | +5.6% |
Summary: The Saint Petersburg real estate market had 2,293 homes for sale in March 2024, a 5.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 213 | 242 | +13.6% |
| 2 Bedrooms | 800 | 820 | +2.5% |
| 3 Bedrooms | 754 | 808 | +7.2% |
| 4 Bedrooms | 304 | 317 | +4.3% |
| 5+ Bedrooms | 100 | 106 | +6.0% |
Summary: The Saint Petersburg housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.6%, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 345 | 444 | +28.7% |
Asking Price vs. Sold Price
323 Homes Were Sold
Under Asking
70 Homes Were Sold
At Asking
51 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. 72.7% of homes here sold below asking price last month.
Summary: A total of 444 homes were sold or pending in Saint Petersburg in March 2024, up by 28.7% month-over-month. Of the 444 sold homes, 73% were sold under asking, 16% were sold at asking, and 11% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 40 Days | 49 Days | +22.0% |
Summary: Homes in Saint Petersburg had an average of 49 days on market in Mar 2024, up by 22% compared to last year.
Breakdown of Home Sale Times
246 Homes Were Sold
Under 30 Days
107 Homes Were Sold
In 30 - 90 Days
91 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 March 2024, 444 homes were sold in Saint Petersburg; 55% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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