St. Petersburg draws in millions of tourists each year, though it is also a popular retirement destination due to its weather and affordable cost of living. Residents also enjoy a vibrant arts scene, diverse cultures, a thriving nightlife, and a plethora of activities. Additionally, St. Petersburg has many job and housing opportunities as well as excellent schools, making it a great choice for families, too.
The real estate market is somewhat competitive in St. Petersburg, with some of the homes receiving multiple offers before selling. The average listing price of homes here is $289.9K, which is $220 per square foot. Homes tend to sell 2.7% under the list price and stay, on average, for 30 days on the market before going on pending. Hot homes can sell in just 6 days, though. The most expensive neighborhood in St. Petersburg is Snell Isle, with a median listing price of $1.2M. Meanwhile, the most affordable neighborhood is Childs Park, with a median listing price of $135K.
As a popular vacation destination, St. Petersburg is a favorite among real estate investors due to its opportunity for profit. The city attracts millions of visitors on an annual basis — visitors that often prefer to rent their accommodations. When investing in a rental property, though, there are many things you must first take into account. You must have a good grasp of the local real estate market, among other things. Navigating the often confusing landscape of St. Petersburg real estate requires a more professional touch.
Hide Text