Saint Petersburg, FL Housing Market Report

The Saint Petersburg housing market is currently undergoing a significant transition toward a buyer-friendly environment as of December 2025. With median home values sitting at $339,385, the market has seen a notable 9.09% decline year-over-year. This cooling trend is further evidenced by a 9.63% surge in active inventory, bringing the total number of available listings to 20,435. For the first time in several years, buyers in the Tampa-St. Petersburg-Clearwater metro area find themselves with increased leverage and more options to choose from.

Price trends over the last six months indicate a steady and consistent deceleration. Starting at $350,881 in July, values have dropped every month to reach the current December level. This downward pressure is largely driven by the increase in days on market, which has climbed to 81 days—nearly two weeks longer than the previous year. Sellers are becoming more realistic in their expectations, as reflected in the 0.98 sale-to-list ratio, suggesting that most properties are selling for slightly below their original asking price.

Looking ahead, the market appears to be stabilizing at a lower price floor, which may offer a strategic entry point for long-term investors and first-time homebuyers who were previously priced out. Prospective sellers should be prepared for longer wait times and may need to offer concessions or more competitive pricing to stand out in a crowded field. Meanwhile, the rental market remains relatively stable with only a marginal 1.15% decrease, suggesting that while the sales market is correcting, the fundamental demand for housing in the region remains intact.