St. Petersburg housing market: prices, inventory and days on market

St. Petersburg housing market: the numbers

Zillow Home Value Index (all homes, smoothed, seasonally adjusted) and Zillow metro market data for the Tampa metro. Metro figures cover the wider region.

What is the St. Petersburg housing market doing right now?

In one line: prices are drifting lower, homes are taking longer to sell, and buyers have more say than at any point since 2019. Here is the current picture from Zillow's August 2026 data.

• Typical home value: $354,074, down 1.1% in a year and up 14.2% over five years.
• Typical rent: $2,058 a month, up 2.0% in a year, so renting got dearer while buying got slightly cheaper.
• Speed: about 70 days on average to go pending across the metro, against 69 a year earlier.
• Negotiation: 31.2% of metro listings had a price cut in August, down from 33.1% a year earlier; homes sold for about 97.0% of list price in July.
• Supply: 22,040 homes for sale across the metro, 8.3% fewer than a year earlier.

The metro figures cover the whole Tampa-St. Petersburg-Clearwater area, not the city alone. The city-level value and rent figures are St. Petersburg's own. The table above shows the typical value each August since 2016.

You will also see Census figures quoted for St. Pete: a median owner-occupied home value of $371,100 and median gross rent of $1,663 in the 2020 to 2024 American Community Survey. Those come from a five-year household survey, include long-term tenancies and older valuations, and lag the market. Use Zillow's current numbers for pricing a purchase or a lease, and the Census numbers for long-run context.

What the ten-year trend shows

St. Pete's typical value went from $176,902 in August 2016 to $354,074 in August 2026, a rise of about 100%. That decade splits into four clear phases.

2016 to 2020: single-digit yearly gains

Values rose between 7.2% and 11.6% a year. St. Pete was already one of the pricier cities in the Tampa Bay area, but growth was orderly and tracked the wider Florida market.

2020 to 2022: two years of 20%-plus gains

The typical value jumped 23.2% in the year to August 2021 and 25.4% in the year to August 2022. Low mortgage rates and strong demand for coastal Florida homes met a city with almost no room to build, so prices had nowhere to go but up.

2022 to 2024: flat at the top

As mortgage rates rose, values stalled: down 0.4% in 2023, up 1.9% in 2024 to the peak of $394,449. Sellers held firm while fewer buyers could qualify.

2024 to 2026: the post-storm correction

The year to August 2025 brought a 9.2% drop, the largest since the data series in our table began. That year included Hurricanes Helene and Milton in September and October 2024, alongside rising insurance and condo costs. The decline slowed to 1.1% in the year to August 2026, which suggests prices are finding a floor, though not yet rising.

Sale speed, price cuts and inventory across the metro

Zillow publishes these indicators for the metro rather than the city. They describe the conditions every St. Pete seller and buyer faces.

Days to pending

Homes took about 70 days on average to go under contract in August 2026, one day longer than a year earlier. Because this is a mean, a few stale listings pull it up; well-priced homes in popular areas still go faster. Budget two to three months from listing to contract, plus the closing period.

Sale-to-list ratio

Homes sold for about 97.0% of their final list price in July 2026, up slightly from 96.8% a year earlier. On a $354,074 home, a 3% gap is about $10,600. That is the typical discount, not a rule: overpriced homes cut first and then sell nearer their reduced price.

Price cuts

In August 2026, 31.2% of metro listings had a price cut, down from 33.1% a year earlier. Fewer cuts than last year is the clearest sign that sellers are pricing more realistically from the start.

Inventory

There were 22,040 homes for sale across the metro in August 2026, 8.3% fewer than the 24,036 a year earlier. Supply is still well above the tight pandemic years, so buyers have choice, but it has stopped growing.

Median sale price

The metro's median sale price was $369,667 in July 2026, up about 3.0% from $359,000 a year earlier. The median reflects the mix of homes that sold that month, so it can rise while typical values fall, for example when fewer low-priced condos trade.

St. Petersburg home prices by ZIP code

Zillow's typical values for St. Petersburg ZIP codes range from $160,983 to $742,292. The payment column is monthly principal and interest with 20% down at 7.03%, before taxes and insurance.

The two premium ZIPs held their value

33701 (downtown) and 33704 (north of downtown) are worth roughly twice the city's typical home and barely moved: -0.1% and +0.7%. Demand for walkable and bayfront addresses has held up better than the city overall.

Four ZIPs edged up

33704, 33710, 33713 and 33701 (effectively flat) were the steadiest. 33710 and 33713 sit near the city's typical value, which suggests the middle of the market is firmer than the top-line 1.1% drop implies.

The biggest falls were at the lower end

33716 fell 6.1%, 33711 fell 3.1%, and 33703 and 33714 each fell 2.7%. At $160,983, 33716's typical value points to a condo-heavy mix, where insurance, reserves and assessments weigh most. Check the property type behind any low ZIP figure before you compare it.

Neighborhoods moving against the trend

Zillow's neighborhood data shows gains in Patrician Point (up 6.6% to $863,841), The Allendale Association (up 5.5% to $636,348), Crescent Heights (up 4.8% to $693,319) and Lakewood (up 3.8% to $434,892). The sharpest drops were in Winston Park (down 11.6% to $114,408), Crosswinds Colony (down 11.0% to $155,688) and Mariners Pass (down 7.1% to $309,908). Neighborhoods with small sample sizes swing more, so use these as prompts to ask questions, not as verdicts.

Condos vs single-family homes, waterfront and new builds

Zillow's city figure blends every property type. The segments below behave differently, and the right read depends on which one you are shopping.

Condos: the weakest segment

Condos carry costs that houses do not: association fees, reserve contributions and, since Florida's post-2021 condo safety laws, structural integrity reserve studies and milestone inspections for older buildings. Many associations have raised fees or levied special assessments to catch up, which has pushed some owners to sell. That is why the lowest-value ZIPs and neighborhoods, where condos are common, show the steepest falls. Buyers can find value but must read the association's budget, reserve study and any milestone report first. See our guides to milestone inspections and buying a condo in Florida.

Single-family homes: steadier

Mid-priced ZIPs dominated by houses, such as 33710 and 33713, were flat to slightly up. Houses on higher ground with newer roofs and no flood history tend to draw the most offers; older homes needing insurance-driven updates sit longer.

Waterfront and luxury: price by exposure

The top of the market split. Patrician Point rose 6.6%, but Snell Isle (down 5.3% to $1,310,863) and Yacht Club Estates (down 5.3% to $1,345,334) fell. For waterfront homes, buyers now price in elevation, seawall condition and whether the house took water in 2024. A raised or rebuilt home can command a clear premium over its unimproved neighbor.

Historic and older homes: condition drives price

Central neighborhoods such as Historic Kenwood ($534,715, up 1.4%), Historic Old Northeast ($976,002, down 1.5%) and Historic Roser Park ($475,406, down 0.1%) hold many homes built long before modern wind and flood codes. Buyers pay up for updated roofs, electrical and plumbing, and discount homes that still need them because insurers ask about all three. If a property is in a local historic district, ask the city what review applies to exterior changes before you plan a renovation.

New construction: infill and rebuilds

Pinellas County permitted 1,376 single-family homes in 2025, against 7,014 in Manatee, a county with half its population. Most new St. Pete homes are infill houses, townhomes or rebuilds on lots where storm-damaged homes were torn down, plus apartments: 2,703 units in buildings of five or more were permitted countywide. New and raised homes usually insure more cheaply, which supports their prices.

How Helene, Milton and insurance changed the market

The 2024 hurricane season is the single biggest local factor behind the recent price drop, even though neither storm made landfall in Pinellas.

What the storms did

Helene made landfall in the Big Bend on September 26, 2024, far to the north, but its surge ran down the whole coast. The National Hurricane Center measured 5 to 7 feet of inundation from the Anclote River to Longboat Key and recorded 12 surge deaths in Pinellas County, 2 of them in St. Petersburg. Two weeks later Milton came ashore on Siesta Key; in St. Pete it tore the fabric roof off Tropicana Field and dropped 20.40 inches of rain at one site near the city, the highest total reported in the storm.

Flood damage and substantial damage rules

When repair costs pass a set share of a building's value, the whole building must meet current floodplain code, which can mean elevating or rebuilding. Pinellas County uses 49% of structure value in unincorporated areas; the City of St. Petersburg runs its own floodplain program, so confirm its threshold with the city's building department. This has produced three kinds of listing in flood-prone areas: unrepaired homes sold as-is at land-plus prices, repaired homes with full permit files, and new raised houses. Price comparisons only work within the same group.

Homeowners insurance

Citizens Property Insurance's 2026 rate filing showed an average HO-3 homeowners premium of $2,993 across its 53,338 Pinellas policies, with a recommended change of -1.7% to $2,943. For comparison, its Hillsborough average was $2,918. Condo unit (HO-6) policies in Pinellas averaged $983. Private insurers price differently, and a home's roof age and wind mitigation features can move a quote by hundreds of dollars. Our Florida homeowners insurance guide explains the options.

Flood insurance

Pinellas has 51,759 NFIP flood claims on FEMA's record, second only to Miami-Dade in Florida. Buyers in high-risk zones with a federally backed mortgage must carry flood cover, and NFIP policies take 30 days to start. Unincorporated Pinellas holds a Class 2 Community Rating System score worth a 40% flood premium discount; the City of St. Petersburg has its own rating, so ask the agent or insurer for the city's current class.

Rent vs buy in St. Petersburg

Zillow's typical St. Pete rent was $2,058 a month in August 2026, up 2.0% on a year earlier. Buying the typical $354,074 home with 20% down costs about $1,890 a month in principal and interest at 7.03%. Add an illustrative $517 a month in property tax (2025 City of St. Petersburg rates with a homestead exemption) and $249 a month for insurance at the Citizens Pinellas average, and ownership runs about $2,656 a month, roughly $600 more than rent, before maintenance and any association fee.

With 10% down, the same home costs about $2,893 a month plus mortgage insurance. Buying makes more sense the longer you stay and the more you value control over the property. Renting keeps your cash free while prices find a floor. According to the Census Bureau's 2020 to 2024 survey, 62.8% of occupied homes in the city are owner-occupied, lower than the 69.5% countywide.

What is driving demand: people, jobs and incomes

Prices follow demand, and the local demand signals are mixed: fewer residents, more jobs and incomes that trail prices.

Population is flat to slightly down

The Census Bureau estimated St. Petersburg's population at 264,033 in July 2025, down from 265,855 a year earlier but above the 2020 base of 258,358. Pinellas County lost 11,834 residents in the year to July 2025: deaths outnumbered births by 5,188, and net domestic migration was -9,203, partly offset by 2,636 net international arrivals. The year covered the 2024 storms, when some damaged homes were empty. Fewer residents means fewer buyers and renters chasing homes, which fits the price softness.

Jobs are still growing

The Bureau of Labor Statistics counted 1,559,600 nonfarm jobs in the Tampa-St. Petersburg-Clearwater metro in August 2026 (preliminary), up from 1,545,300 in June. The metro unemployment rate was 4.8% in July 2026 (preliminary, not seasonally adjusted). Job growth supports demand for rentals and entry-level homes even while population estimates dip.

Prices are high relative to incomes

The Census Bureau's 2020 to 2024 survey put St. Petersburg's median household income at $75,192. The typical home value is about 4.7 times that figure. To keep the illustrative $2,656 monthly cost of owning the typical home (20% down, taxes and insurance included) to 30% of gross income, a household would need about $106,000 a year. That gap is why so many listings sit, and why sellers are offering concessions.

Why the city is not built out of its problem

With Pinellas the densest county in Florida, at about 3,465 people per square mile of land, new supply comes slowly and mostly as apartments. Limited land keeps a floor under well-located single-family homes, but it also means little new, lower-cost stock for buyers priced out of resales.

St. Petersburg vs Tampa and Clearwater

Are house prices dropping in Tampa?

Only just. Zillow's typical Tampa value was $377,566 in August 2026, down 0.3% on a year earlier, a smaller fall than St. Pete's 1.1%. Tampa has also gained more over five years (21.4% against 14.2%). Our Tampa housing market page has the ZIP detail.

Is it cheaper to live in St. Pete or Tampa?

Cheaper to buy in St. Pete, cheaper to rent in Tampa. The typical St. Pete home is $23,492 (6.2%) less than Tampa's, but typical rent is $101 a month more. The 2025 St. Petersburg city millage of 19.9197 also differs from Tampa's, so compare tax bills on specific parcels. Our St. Petersburg cost of living guide and the Tampa vs St. Petersburg comparison cover the rest.

Clearwater, the other Pinellas option

Clearwater's typical value of $342,820 is $11,254 below St. Pete's, with a similar five-year gain. See the Clearwater housing market page for its beach and mainland split.

How to read a St. Petersburg listing in this market

Headline numbers only take you so far. These four checks turn market data into a judgment about one home.

Price history

Look at every list price and sale since 2021. A home bought near the 2022 to 2024 peak may be listed high because the owner needs to cover their loan, not because the market supports it. A home that has already been cut twice is often the best negotiating opportunity.

Time on market against the metro average

Compare the listing's days on market with the metro's average of about 70. A home well past that, in a neighborhood where others sold, usually has a price or condition problem the seller has not fixed yet. Ask your agent what the showings feedback was.

Storm and repair file

Ask whether the home took water in 2024, what was repaired, whether the work was permitted and whether the building went through a substantial damage review. A complete file is worth money at resale; a thin one is a reason to offer less or walk away.

Insurance quote before inspection ends

A home that is hard to insure is hard to sell later. Request a homeowners quote and a flood quote using the seller's wind mitigation and four-point reports, and treat an unexpectedly high quote as part of the price.

Is now a good time to buy a house in St. Petersburg?

For a buyer who plans to stay five years or more, conditions are better than they have been since 2019: more homes to choose from, about 70 days on average on the market, price cuts on almost a third of listings and a typical home 10% cheaper than in 2024. The catch is a 7.03% mortgage rate and higher insurance, which keep monthly costs high even as prices ease.

What works in this market:

• Offer below asking on homes listed for 60 days or more, backed by recent closed sales.
• Ask the seller to pay closing costs or buy down your rate instead of cutting the price.
• Get homeowners and flood quotes before your inspection period ends.
• Favor homes with a newer roof, wind mitigation features and no 2024 water history; they insure more cheaply and resell more easily.
• For condos, read the reserve study and milestone inspection before you offer.

Nobody can promise prices will not fall further. Buy a home you can afford at today's payment, not one that only works if values rise. First-time buyers should check Florida Hometown Heroes down payment help.

Is now a good time to sell a house in St. Petersburg?

If you need to sell, you can, but only at a 2026 price. The typical St. Pete home is worth $40,375 less than in August 2024, and the 31.2% of listings with cuts show what happens to homes priced off old comparables. Homes are selling for about 97% of list, so a realistic price still produces a clean sale.

How to sell well now:

• Price from sales in the last three to six months, not from 2024.
• Have a wind mitigation report, four-point inspection and permit file ready for buyers' insurers.
• Disclose storm history plainly; buyers here ask first.
• Offer help with closing costs or a rate buydown instead of large price cuts.
• Run your net with our seller net proceeds calculator before you list.

If you bought before 2021, you likely still have substantial equity even after the correction: the typical value is about 41% above August 2020.

St. Petersburg housing market predictions for 2026 and beyond

We do not publish price forecasts. The year-on-year decline has narrowed from 9.2% to 1.1%, and inventory has started to shrink, which points to a market leveling out rather than falling fast. These are the factors that will decide the next move.

Inventory direction

Metro inventory fell 8.3% in the year to August 2026 after a long climb. If listings keep shrinking while sales hold steady, price cuts should become less common and the time to pending should shorten. If inventory turns up again, expect more cuts. Watch the monthly Zillow figures rather than any single headline.

Mortgage rates

At 7.03%, rates cap what buyers can pay. A sustained drop would bring buyers back quickly; a rise would extend the slow market.

Insurance pricing

Citizens' recommended 1.7% cut for Pinellas HO-3 policies is modest, but it is a cut. If private insurers follow, ownership costs ease and demand improves.

Amendment 3 on the November 2026 ballot

Florida voters decide on November 3, 2026 whether to raise the non-school homestead exemption to $150,000 in 2027 and $250,000 in 2028 and to cut the non-homestead assessment cap from 10% to 5%. Either way, it will change the tax math for St. Pete owners. Our Pinellas County property tax guide explains current rules.

Hurricane season and rebuilding

Another damaging storm would hit prices and insurance again. Continued rebuilding and raising of storm-damaged homes, meanwhile, is slowly raising the quality of the housing stock in flood-prone areas.

Condo finances

As associations finish their structural reserve studies and repairs, the pressure on condo prices should ease. Buildings that have completed the work will be easier to sell and finance than those that have not.

Common questions

Sources

• Zillow Research: Home Value Index, rent index, days to pending, sale-to-list, price cuts, inventory and median sale price (August 2026)
• Freddie Mac: Primary Mortgage Market Survey (week of September 24, 2026)
• National Hurricane Center: Tropical Cyclone Report, Hurricane Helene
• National Hurricane Center: Tropical Cyclone Report, Hurricane Milton
• Citizens Property Insurance: 2026 recommended rate filing (Exhibits 4 and 6, average premium by county)
• Pinellas County: Substantial damage and substantial improvement
• Pinellas County: Community Rating System
• Bright Florida Homes: Florida flood zones guide (FEMA NFIP claims by county)
• Manatee County: Flood zone and floodplain management (NFIP 30-day waiting period)
• U.S. Census Bureau: Building Permits Survey, 2025 county annual
• Census Reporter: ACS 2020-2024 5-year tenure data for St. Petersburg and Pinellas County
• Pinellas County Tax Collector: 2025 millage rates
• Florida Department of Revenue: Homestead exemption amounts indexed to CPI
• U.S. Census Bureau: City and town population estimates, Vintage 2025
• U.S. Census Bureau: County population estimates and components of change, Vintage 2025
• U.S. Census Bureau: 2024 Gazetteer county land area
• Bureau of Labor Statistics: Tampa-St. Petersburg-Clearwater nonfarm employment (CES)
• Bureau of Labor Statistics: Tampa-St. Petersburg-Clearwater unemployment rate (LAUS)
• Florida Division of Elections: 2026 constitutional amendments booklet