33704 Real Estate Market: A Comprehensive Guide for Buyers and Sellers
The 33704 real estate market in St. Petersburg, FL, has been experiencing significant changes recently, and it’s important for both buyers and sellers to stay informed. Whether you’re a prospective homebuyer looking for the perfect property or a seller wanting to maximize your investment, understanding the dynamics of this local market can make all the difference. In this blog, we will explore the latest trends, pricing, and inventory in the 33704 market, provide insights from local experts, and offer tips for navigating this competitive environment.
The Current State of the 33704 Real Estate Market
Is 33704 a buyer’s or seller’s market? According to Aaron Hunt, Broker at Avalon Group Realty, the answer is clear: “The 33704 market remains a seller’s market, which means prices are trending higher, and homes are selling faster. Sellers are still in a strong position to negotiate favorable terms.”
This means that if you’re planning to sell your home, now is a great time to do so. Prices have risen by 3.3% since December 2023, with the median sale price in December 2024 reaching $855,000. This increase demonstrates the high demand for homes in this area.
Why 33704 Remains a Seller’s Market
In a seller’s market like 33704, competition among buyers drives prices up. The median sale price of homes in 33704 has increased 3.3% since last year. “Sellers are seeing great returns on their investments, and buyers need to act quickly to secure a property before it’s gone,” explains Yvette Kim, Realtor at Avalon Group Realty.
While home values are on the rise, the number of homes available is relatively limited. With only 189 homes for sale in December 2024—a decrease of 2.6% from the previous month—inventory is tight. Pam Amante, another Realtor at Avalon Group, adds, “Inventory levels remain low, which increases the competition among buyers, making it essential to be prepared with pre-approvals and quick offers.”
Trends in Home Prices in 33704
The price trends in 33704 are reflective of the broader seller’s market. Homes in the area have seen notable price fluctuations based on bedroom count. For instance, 1-bedroom homes have seen a decrease of 9%, while 2-bedroom homes increased by 9.3%. “The increase in prices for larger homes is consistent with the area’s appeal to families and those seeking more space,” says Nora Sturgill, Realtor at Avalon Group Realty.
Median Sold Price: $855,000
This price point reflects the desirability of homes in the 33704 zip code, which includes sought-after neighborhoods and proximity to downtown St. Petersburg, local beaches, and top-rated schools.
Homes in 33704 Are Selling Quickly
In December 2024, homes in the 33704 area were selling at a faster pace compared to last year. The average time on the market for homes was 61 days, up 63.5% from the previous year. However, a large percentage of homes—53%—were still sold in under 30 days, showing the competitive nature of this seller’s market.
“Buyers need to move quickly and decisively when they find a property they like,” says Aaron Hunt. “Homes are selling fast, so if you’re interested in a property, don’t hesitate to make an offer.”
Pricing and Inventory: What to Expect in 33704
Housing Prices in 33704, FL
The median sold price for homes in the 33704 real estate market as of December 2024 is $855,000, a solid figure reflecting both the desirability of the location and the scarcity of available properties. Homes here are selling for an average of $478 per square foot, and the price is expected to rise slightly by 3% over the next year.
Interestingly, while some homes in 33704 are selling above asking price, the majority (70%) sold for less than asking in December 2024. This could present a good opportunity for buyers to secure a property below the listed price, but with the right preparation, the chance of competing successfully in this market remains.
Housing Inventory: What’s Available in 33704?
As of December 2024, the number of homes available for sale in 33704 decreased by 2.6% compared to the previous month, with a total of 189 homes on the market. While there is a relatively small number of homes available, there is still a range of properties on offer, from cozy one-bedroom homes to larger estates.
Buyers may need to be strategic in their approach. “You might not have many options in terms of inventory, but you can find homes that fit your needs if you move quickly and work with a trusted agent,” says Yvette Kim.
Competitive Offer Strategies for Buyers
Given the competitive nature of the 33704 real estate market, buyers need to employ effective strategies to secure a home. “Prepare your finances in advance and make sure your offer is competitive,” advises Pam Amante. “Being ready to act quickly and offering a fair price will improve your chances of success.”
Many buyers are opting to include escalation clauses in their offers, ensuring that they are willing to outbid competing offers up to a certain limit. “We’ve seen a rise in escalation clauses, particularly for highly desirable properties,” says Nora Sturgill.
Tips for Sellers in 33704
Maximize Your Home’s Value
If you’re thinking about selling your home in 33704, now is an excellent time to take advantage of the high demand. To maximize your home’s value, Aaron Hunt recommends “investing in home improvements that offer a high return, such as kitchen and bathroom updates, curb appeal, and energy-efficient upgrades.”
Additionally, ensure that your home is well-staged and photographed. “Presentation is key in the seller’s market,” says Yvette Kim. “Professional staging and high-quality photos can make your listing stand out from the competition.”
Understand the Local Market
Sellers in 33704 should be aware of the neighborhood’s unique characteristics. St. Petersburg’s 33704 zip code is home to some of the area’s most desirable neighborhoods, like Snell Isle and Old Northeast. The charm of historic homes and proximity to the water only adds to the appeal. “Knowing your property’s value and understanding the specifics of the 33704 market will help you set a competitive price,” says Pam Amante.
Leverage Avalon Group’s Expertise
Selling a home in 33704 is an exciting opportunity, and working with experienced real estate agents can ensure you get the best deal. Avalon Group’s agents offer a wealth of local knowledge and negotiation skills, which can help sellers get the highest possible price for their homes.
Frequently Asked Questions About the 33704 Real Estate Market
1. What is the median sale price in 33704?
The median sale price of homes in 33704 as of December 2024 is $855,000.
2. Is 33704 a buyer’s market or seller’s market?
As of now, 33704 is a seller’s market, with limited inventory and rising home prices.
3. How long do homes typically stay on the market in 33704?
Homes in 33704 have an average time on market of 61 days as of December 2024, but many homes sell within 30 days.
4. How can I maximize my home’s value in 33704?
To maximize your home’s value, focus on home improvements, staging, and professional photography. Avalon Group’s team can help you navigate the process.
5. Are there many homes available in 33704?
While inventory is low, there are still a variety of homes available in 33704. Buyers should be prepared to act quickly.
Conclusion: The 33704 Real Estate Market
The 33704 real estate market remains a dynamic and competitive environment. With rising prices, low inventory, and quick sales, both buyers and sellers need to stay informed and prepared. Working with an experienced real estate agent can help you make the best decisions in this competitive market.
To start your real estate journey, visit www.AvalonGroupTampaBay.com and contact Aaron Hunt directly to learn more about buying or selling in the 33704 market.
Contact Aaron Hunt Directly:
Phone: 727-262-7920
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