St Petersburg Real Estate Market May 2025
Welcome to the latest market update from sunny St. Petersburg, Florida! I’m Rob Johnson, Realtor with Avalon Group Realty, and I’m excited to share an insider’s look at what’s happening in the St Petersburg Real Estate Market May 2025. Whether you’re buying, selling, or simply curious, this month’s market update offers key insights and expert perspectives from our top team.
The State of the Market: Where We Stand
According to the latest housing data, the St Petersburg Real Estate Market is holding steady despite national fluctuations. The median sale price sits at $425,000, unchanged from last year. Homes are selling in about 41 days on average, just slightly quicker than the 43-day average in May 2024. However, the number of homes sold dropped from 487 to 444 year-over-year, indicating a bit of cooling in overall transaction volume.
"While some may see a flat median price as a sign of stagnation, I see it as a moment of equilibrium," says Aaron Hunt, Broker of Avalon Group Realty. "It’s a balanced environment for buyers to negotiate and for sellers to find serious, qualified buyers."
A Buyer’s Market Emerges
For the first time in recent memory, St. Petersburg has officially shifted into a Buyer’s Market. Compared to May 2024 when sellers had the upper hand, buyers now enjoy more leverage. Homes are staying on the market longer, and many sellers are becoming more flexible with price and concessions.
"I’ve seen a few price adjustments that would have been unthinkable a year ago," shares Yvette Kim, St Petersburg Real Estate Agent. "Smart buyers are recognizing opportunities that might not last."
Price Per Square Foot Drops
In addition to overall sales volume and time on the market, price per square foot has dipped 6.4% to $323. This is a noticeable decrease from last year and an important indicator that buyers can get more value for their investment.
"That 6.4% dip in price per square foot means buyers are getting more home for their money," says Pam Amante, one of our most active agents. "It’s a great time for anyone thinking about making a move to St. Pete."
Inventory Snapshot
Although demand remains strong, inventory has started to build. With 444 homes sold in May 2025 versus 487 last year, buyers have more choices.
Nora Sturgill, another trusted St Petersburg Real Estate Agent on our team, notes: "This shift gives buyers breathing room to explore neighborhoods, compare features, and make confident decisions without the pressure of a bidding war."
Key Stats at a Glance:
Median Sale Price: $425,000 (0.0% YoY)
Median Days on Market: 41 (-2 days YoY)
Homes Sold in May 2025: 444 (-8.8% YoY)
Price per Sq Ft: $323 (-6.4% YoY)
Buyer's Market: Confirmed
Migration Trends: Why People Keep Moving to St. Pete
Despite a shift toward a buyer-friendly market, migration into St. Petersburg continues to trend upward. Sunshine, walkable neighborhoods, world-class beaches, and a vibrant cultural scene are big draws for newcomers.
"Many of our clients are relocating from colder states or high-cost markets like New York and California," explains Aaron Hunt. "They’re looking for quality of life and more bang for their buck."
Transportation, Schools & Climate
In terms of infrastructure, the city continues to invest in transportation improvements and green space enhancements. Local schools are gaining traction in rankings, and the climate? Well, it’s Florida—sunny and sublime.
"St. Petersburg has a way of capturing your heart," says Rob Johnson. "The community here is warm, literally and figuratively. It’s a great place to call home."
Neighborhood Highlights: Where the Buzz Is
Several neighborhoods are getting extra attention from both buyers and developers:
Historic Kenwood
Known for its craftsman-style homes and artist-friendly vibe.
Old Northeast
Tree-lined streets, brick roads, and charming architecture make it a top choice.
Shore Acres
A waterfront paradise with great parks and expanding family appeal.
"Buyers should keep an eye on up-and-coming areas like Palmetto Park and Allendale Terrace," adds Pam Amante. "They're hidden gems with rising potential."
What This Means for Sellers
Even though the market favors buyers, sellers shouldn't panic. With proper staging, pricing, and representation, properties still move quickly.
"It’s all about positioning," says Yvette Kim. "We’ve had listings go under contract within days because we presented them correctly."
What This Means for Buyers
With more room to negotiate and less competition, now is the time to make your move.
"Rates are stable, prices are fair, and the selection is strong," notes Nora Sturgill. "It’s a trifecta for smart buyers."
FAQs: St Petersburg Real Estate Market May 2025
Is it a good time to buy in St. Petersburg?
Yes! With a buyer’s market, increased inventory, and lower price per square foot, the current landscape favors buyers.
Is the market crashing?
No. Prices have held steady, and demand remains consistent. We’re seeing a healthy correction, not a collapse.
What’s the average home price?
The median sale price in May 2025 is $425,000.
How long do homes stay on the market?
The median time is currently 41 days.
Which neighborhoods are hot right now?
Historic Kenwood, Old Northeast, and Shore Acres are seeing strong buyer interest.
Quick Takeaways:
St. Petersburg is now officially a Buyer’s Market
Median home prices remain steady
Price per square foot is down 6.4%
Homes are staying on the market slightly less time than last year
Inventory is up, giving buyers more options
"This market offers balance," concludes Aaron Hunt. "It’s not overheated, and it’s not slowing to a stop. That’s the kind of environment where real estate wins are made."
Thinking of making your move?
Let us guide you through your next real estate journey in St. Pete. With decades of combined experience, our Avalon Group Realty team has the knowledge, integrity, and heart to help you succeed.
Contact Aaron Hunt directly to start your real estate success story:
Phone: 727-262-7920
Follow us for more Tampa Bay real estate tips, market updates, and insider information:
👥 Join Our Community:
Facebook: Avalon Group Tampa Bay
Instagram: @avalongrouprealtors
Twitter: @AVALONGROUPRE
TikTok: @avalongrouprealty
