Saint Petersburg, Florida is a city on Florida’s gulf coast, part of the Tampa Bay area in Pinellas County. It’s known for its pleasant weather making it popular for boating, golfing, fishing and beachgoing. This area is one of the hottest real estate areas in Florida.
Downtown St. Petersburg FL
If you’re looking to move to St Petersburg, Florida there will be no shortage of finding an activity every night of the week. If you’re a baseball fan, Tropicana Field is right in downtown St Pete hosting the Tampa Bay Rays.
Looking for some nightlife after the baseball game, look no further than Central Avenue or 1st Avenue N with all the bars and restaurants.
Do you love looking at nature? Try visiting the Sunken Gardens, St. Pete’s oldest living museum is a botanical paradise home to some of the oldest tropical plants in the region.
Are you a bicycle enthusiast, then look no further and hop on the Pinellas Trail that is a 75-mile continuous multi-use pathway stretching from Tarpon Springs to St. Petersburg with connections to Palm Harbor, Dunedin, Clearwater, Safety Harbor, Largo, Seminole, South Pasadena, and Gulfport. Rest assured this city has something for everyone with its coffee shops, waterfront park, art galleries, and quirky feel that welcomes everyone.
The Real Estate Market
Last year and quite frankly the past few years have been quite the market whether buying or selling single-family homes throughout the United States, especially the St. Petersburg homes on the west coast of Florida.
Real estate listings were going under contract with multiple offers of 50,000 to 100,000 dollars over the asking price. Buyers from all over including California, New York, Ohio, and South Carolina are moving in and waiving the personal inspection of the property. Honestly, the listing information of the home didn’t even matter if the home was on a sinkhole as offers were still coming in.
I strongly advise my customers NEVER buy a property that had sinkhole activity. If you were lucky enough to be the listing agent on any new listings of single-family homes or luxury homes, you could sit back and know multiple offers were coming in on any property. The question will always remain, did the agent get the highest price for their client? As per the St Petersburg housing market predictions in 2023, experts believe home prices will continue to go up amid the rising demand.
New inventories are not expected to become available any time soon in 2023. However, while new houses are being built the inventory may still not keep up with the high demands. The pandemic allowed many workers to work from home and allowed many individuals to move to a better city without leaving their jobs. This is where calling real estate offices with appropriate professionals matters the most. I can’t express how important calling local experts / real estate agents is when searching for potential properties.
Homes for Sale St. Petersburg FL –Property Prices
Having the best agent will understand the average price of the homes sold in the area within the last few months and the trending prices of the neighborhood. One of the best things to ask your agent is what were the prices selling at during the hottest market.
Currently, these would be closings that took place before June 2022. I’m telling you this as a benchmark to understand how much your home could potentially increase on the next real-estate boom. Hot areas are always the first to see prices move up and the last to cool off. Less desirable areas are the first to move backward.
As the old saying goes location, location, location. Importantly, what goes up must come down, that is the nature of the real estate market and the economy, however, the goal is to limit the bleeding in a downturn and what areas to invest in. Only the best of the best knows when to buy/sell or how to maneuver a challenging market.
If you would like to sell your home or desire to live in St Petersburg, Florida, and looking for waterfront properties, new construction for sale with water views, or any property in between, please click my website for easy access to Florida Regional MLS. The potential purchase of your new home or selling is the biggest transaction you will make in your lifetime. Gives us a call @ 727-337-6230 or email [email protected]