It’s a Buyer’s Market in St Petersburg and Tampa
Hello everyone! I’m Rob Johnson, Realtor with Avalon Group Realty in St. Petersburg, FL. Over the last several months, I’ve watched the local real estate landscape shift dramatically — and I’m thrilled to share with you why “It’s a Buyer’s Market in St Petersburg and Tampa” isn’t just a headline but a real opportunity for anyone looking to buy a home in our gorgeous sunshine-coast region.
In this blog, I’ll walk you through the data, share quotes from my colleagues Aaron Hunt (Broker at Avalon Group) and Realtor Pam Amante, explain why now is a great time to buy, and answer your most common questions. Read on — because as a local buyer or someone considering a move here, now may very well be your moment.
The Current Reality: It’s a Buyer’s Market in St Petersburg and Tampa
Across the U.S., recent reports have pointed to one of the strongest buyer’s markets in years. According to the Wall Street Journal, housing markets are beginning to rebalance as higher mortgage rates slow demand and inventory builds, giving buyers more power at the negotiation table.
In Florida, and specifically in our Tampa Bay / St. Petersburg region, the shift is clear:
In St. Petersburg, home prices are down compared to last year, with the median sales price around $402,500. Homes now take on average 70 days to sell — a big increase from the fast-paced market of 2022–2023.
Zillow reports that in St. Petersburg, typical home values are down nearly 9% in the past year, averaging around $352,000.
Inventory is swelling: in spring 2025, St. Pete had over 3,000 active listings, significantly more than prior periods — flipping the region from a seller’s market to a buyer’s market, especially in desirable neighborhoods.
In Tampa Bay more broadly, home sales have declined by nearly 25% year-over-year while average prices remain relatively steady.
Hillsborough County (Tampa area) has seen marketing times stretch from 53 to 60 days, signaling that sellers are waiting longer for offers and buyers have more negotiating room.
Put simply: yesterday’s red-hot bidding wars are cooling, and negotiation power is shifting to buyers.
That brings me to the first reminder: It’s a Buyer’s Market in St Petersburg and Tampa — and for savvy buyers who prepare, this can be your time.
Why Now Is a Great Time for St Petersburg Home Buyers
For St Petersburg Home Buyers, this shift is a rare chance to secure the home of your dreams with less stress and more bargaining strength.
Lower prices and better deals
With home values declining and sellers under pressure, many listings are seeing price reductions. As Aaron Hunt, Broker at Avalon Group Realty, explains:
“We’re seeing sellers adjust expectations and come to the table — for the first time in years. That’s excellent news for buyers.”
More inventory = more choices
With thousands of listings on the market, you have the ability to shop around. That cushion of options supports the fact that It’s a Buyer’s Market in St Petersburg and Tampa.
Greater room for negotiation
Homes are sitting longer, and sellers are more willing to negotiate on repairs, closing costs, or even offering credits for upgrades. Realtor Pam Amante adds:
“In this market, terms matter more than before. Buyers can ask for what really helps them — repair credits, flexible closing dates — and often get them.”
Reduced competition
The bidding war era has passed. Buyers now can move at a more reasonable pace without constantly losing out to multiple-offer scenarios.
Every time I say it: It’s a Buyer’s Market in St Petersburg and Tampa — because repetition is the key to understanding how much things have shifted in your favor.
Median Home Prices, Days on Market, Inventory Growth
The Tampa Side of the Story: Buyers Gaining Ground
While St. Petersburg is clearly leaning buyer-friendly, Tampa is right behind it. The phrase “Buyers Market in Tampa”absolutely applies today.
Sales volume has dropped significantly across Hillsborough County. Even though average prices in Tampa hover in the $480,000–$500,000 range, the increase in days on market and growing inventory point to a softer market where buyers have more leverage.
Looking forward, forecasts suggest moderate annual appreciation of 3–5% in prime Tampa Bay markets over the next five years. That’s healthy, sustainable growth — but also a window where buyers can still negotiate before the next upward cycle begins.
Tampa Market Graphs
What Smart Buyers Should Do Right Now
Here’s your playbook for taking advantage of the fact that It’s a Buyer’s Market in St Petersburg and Tampa:
Get pre-approved — Sellers want serious buyers who are ready to close.
Watch inventory closely — More listings are hitting the market weekly, giving you better options.
Negotiate confidently — Ask for repairs, seller credits, or flexible closings. You have leverage now.
Work with a local agent — An Avalon Group Realtor knows the micro-markets and can guide you to the best deals.
Think long term — Buy where you’ll want to live for years. Prices may stabilize, but lifestyle value remains.
Inspect thoroughly — Use your buyer advantage to ensure the property is in top condition.
As Aaron Hunt puts it:
“We’re watching neighborhood-level shifts daily and advising clients on when to push and when to step back. That’s where the best value lies.”
Data Snapshot — Why the Market Favors Buyers
| Metric | St. Petersburg (2025) | Tampa Bay / Hillsborough County |
|---|---|---|
| Year-over-year price change | –5% to –9% | Stable, slight growth in some areas |
| Days on market | 70+ days | 60 days average |
| Active listings | 3,000+ | Rising steadily |
| Forecasted appreciation | 3–5% annually | 3–5% annually |
Why St. Petersburg & Tampa Are Still Great Places to Call Home
While the market favors buyers today, let’s not forget why so many people want to live here in the first place.
Lifestyle and sunshine — We enjoy year-round warmth, endless waterfronts, and a vibrant cultural scene.
Strong fundamentals — Tampa Bay continues to attract businesses and remote workers. Florida’s tax environment remains a big draw.
Diverse housing options — From historic bungalows to modern condos, you’ll find a fit for every lifestyle and budget.
Migration and growth — Our region is still growing, which means your investment has long-term support.
FAQ
What does “buyer’s market” mean?
It means there are more homes for sale than buyers. Sellers compete for offers, giving buyers the edge.
Is this shift permanent?
Not necessarily. Markets shift with rates and demand. But the current environment is favorable for buyers and should last for a while.
Will prices keep dropping?
Some softening is likely, but experts predict steady long-term appreciation in good neighborhoods.
Does “Buyers Market in Tampa” apply everywhere?
Not equally. Some high-demand neighborhoods may still see quick sales. But overall, buyers now have more leverage across the region.
Should I wait for lower interest rates?
Rates may or may not fall significantly. If you find the right home now, buying can still be a smart move because you lock in today’s prices.
Top 5 Buyer Tips
✅ Get pre-approved and ready to act.
✅ Stay on top of new listings.
✅ Don’t hesitate to ask for concessions.
✅ Work with a local, data-driven Realtor.
✅ Focus on long-term lifestyle value.
Final Thoughts
Let me close by emphasizing what I began with: It’s a Buyer’s Market in St Petersburg and Tampa — and that’s your advantage.
As inventory builds and homes sit longer, negotiation power shifts to buyers. Whether you’re a St Petersburg Home Buyer or someone searching Tampa, your timing could make all the difference.
As Pam Amante reminds us:
“In a buyer’s market, patience pays until you find the one you love.”
Now’s the moment to explore, negotiate, and secure your dream home in one of America’s most desirable regions.
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