St Petersburg Housing Market

By Buying, Selling February 7, 2023
St Petersburg Housing Market, Title of blog picture with a two story white home with a plush landscape with a Home For Sale sign in the yard.

St Petersburg Housing Market: An Overview

St Petersburg Housing Market and we ponder the outlook for the Homes for sale St Petersburg FL trends.  Located on the central west coast, St Petersburg is a city located in the Sunshine State of Florida.  Most of all, it is known for its beautiful beaches and vibrant culture. But, what is the housing market like in this city today? Well, let’s take a closer look at the recent trends and data.

St Petersburg Housing Market:  Home Prices on the Rise

According to the latest data, the median price for homes for sale St Petersburg FL  in December 2022 was $396K, up 14.3% compared to the previous year. Despite the surge in home prices, the number of homes sold in December 2022 was slightly lower than last year, with 399 homes sold compared to 605 homes sold in December 2021.

Map picture that shows arrows of where people move from, to St Petersburg FL.

Migration trends to St Petersburg FL

St Petersburg Housing Market:  Competitive Market

Homes for sale St Petersburg FL housing market is currently trending to be somewhat competitive with a Redfin Compete Score of 1.5 out of 5. Some homes receive multiple offers and the average home sells for about 4% below the list price. On average, homes in St Petersburg take 29 days to sell, which is longer in comparison to last year when homes were selling in just 14 days.

St Petersburg Housing Market:  Relocation Trends

In the period from October to December 2022, 28% of homes for sale St Petersburg FL homebuyers searched to move out of the city while 72% looked to stay within the metropolitan area. Among the homebuyers searching to move into St. Petersburg, the majority were coming from outside metros with New York being the most popular source of migration followed by Chicago and Washington. On the other hand, the most popular destinations among St. Petersburg homebuyers were within the metropolitan area with Asheville, Ocala, and Sarasota being the top three choices.

Picture shows map of the USA with arrows pointing to where people leave St Petersburg to new locations.

Migration trends from St Petersburg to new locations.

St Petersburg Housing Market:  Conclusion

In conclusion, the St Petersburg housing market is a competitive one.  As a matter of fact,  homes for sale St Petersburg FL prices are on the rise.   Furthermore,  a growing number of homebuyers are looking to stay within the metropolitan area. With its beautiful beaches, vibrant culture, and friendly people, St. Petersburg continues to be a popular destination for homebuyers. Whether you are a first-time buyer, an investor, or a relocator, the St. Petersburg housing market is definitely worth considering.

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About the Author
Aaron Hunt, Broker Associate

Raised in a family of creative entrepreneurs, Aaron Hunt, Realtor St Petersburg FL, guides his clients with the same irrepressible spirit he was surrounded by as a kid. A Florida transplant, Aaron relates well to the out-of-state buyers, retirees, and vacation home-dwellers who make up the bulk of his clientele. He makes no secret of his love for St. Petersburg and its neighboring cities and towns, and it fuels his passion for helping buyers find their dream home.

Originally from the San Francisco Bay Area, Aaron grew up on the West Coast. His family owns hotels throughout California, Idaho, and Las Vegas, which has shaped Aaron’s eye for detail and his mind for business. In his subsequent career in the spa industry, he established a high bar for client service designed to cater to every discerning taste. From pampering spa customers to tending to real estate clients, Aaron knows how to take care of people.

Realtor St Petersburg FL:  Exceeding Expectations

By limiting the number of clients he represents at any given time, he ensures his undivided attention, absorbing every detail so he can deliver outstanding results and exceed expectations. Aaron co-founded Avalon Group, Realtor St Petersburg FL, in 2014 and grew it into the top-rated real estate team in St. Petersburg and Tampa Bay out of over 10,000 agents. Some of Aaron's greatest strengths are organizing and leading complex projects, making deals happen, and driving profit.

Aaron negotiates deftly for his buyers’ ideal homes.  Furthermore,  he attracts multiple enticing offers for his sellers’ properties.   Aaron prepares meticulously for every transaction, thoroughly covering every detail so clients encounter no surprise. He also relies on his dynamic support team and vast professional network to ease every facet of a transaction.  Additionally he makes sure to fulfill specific client needs. Aaron, a broker associate and Pricing Strategy Advisor, satisfies his competitive streak when everyone wins.

Realtor St Petersburg FL:  Living the Tampa Bay Lifestyle

Aaron has been a proud Florida resident since 2013. There’s always something interesting to do in St. Petersburg, and Aaron relishes it, exploring the city, traveling, hiking, biking, and visiting with friends. He also enjoys trying new restaurants in the region, especially in neighborhoods where he has homes listed. Aaron takes time to give back to his community by supporting St. Pete Pride and other annual festivals throughout the area.