A decade after the Great Recession of 2008, commercial real estate in St. Petersburg is booming.
Vacancy rates are at a 20-year low and lease rates are at a 20-year high for downtown office buildings. New economy companies, especially those in the life sciences and technology sectors, make up a growing percentage of the tenants downtown as their real estate needs match the available space. The city is poised to get its first new office building in the downtown core in nearly 30 years, and a pending project — the redevelopment of the 86-acre Tropicana Field site — is creating buzz nationwide.
“The type of people knocking on the door today has changed drastically,” said Alan DeLisle, a veteran economic developer who was named St. Petersburg’s city development administrator in 2014. “The quality and...
Whether it's your primary residence, secondary home or seasonal getaway, furnishing a home can be a burdensome task. If you enjoy interior design as a hobby or find enjoyment crafting a space to your taste, comfortably furnishing a home to live in can be a big process. One option buyers can consider when buying a home is to focus your search on "turn-key" properties. These are listings that come equip with many of the interior necessities such as couches, tables, beds and more. They may even include fully stocked kitchens with plates, silverware and cookware. The inventory of listings sold completely furnished is limited so be sure to discuess with your Realtor that you're looking for turn-key properties and request an inventory sheet of everything that comes in the sale. For those interested in properties like this, here are 5 turn-key properties on the market right now that are ready for you to start living your best life.
Since DWELL expanded from Sarasota north to our sister-city St. Petersburg early this year, we have been interacting much more frequently with buyers looking to be closer to Tampa in the vibrant area of St. Pete/Clearwater. Let’s take a closer look at the differences between the small beach towns of St. Pete Beach & Clearwater beach, so you can find the place that’s best for you!
September 2018 is a Neutral market! The number of for sale listings was down 16.6% from one year earlier and up 11.5% from the previous month. The number of sold listings decreased 31.6% year over year and decreased 49% month over month. The number of under contract listings was down 2.8% compared to previous month and up 29.6% compared to previous year. The Months of Inventory based on Closed Sales is 5.2, up 21% from the previous year.
The Average Sold Price per Square Footage was up 8.9% compared to previous month and down 7.3% compared to last year. The Median Sold Price increased by 15.3% from last month. The Average Sold Price also decreased by 3% from last month. Based on the 6 month trend, the Average Sold Price trend is "Neutral" and the Median Sold Price trend is "Appreciating".
The Average Days on Market showed a downward trend, a decrease of 56.6% compared to previous year. The ratio of Sold Price vs. Original List Price is 98%, an increase of 6.5%...
September 2018 is a Seller's market! The number of for sale listings was up 7.3% from one year earlier and up 4.5% from the previous month. The number of sold listings increased 3.8% year over year and decreased 18.6% month over month. The number of under contract listings was down 3.8% compared to previous month and up 56.8% compared to previous year. The Months of Inventory based on Closed Sales is 3, up 3.5% from the previous year.
The Average Sold Price per Square Footage was the same as compared to previous month and up 6.3% compared to last year. The Median Sold Price decreased by 1.5% from last month. The Average Sold Price also decreased by 2.3% from last month. Based on the 6 month trend, the Average...
For the person who shuns the standard three-bedroom, two-bathroom ranch house, here are some quirkier homes you might want to check out.
TAMPA BAY, FL -- For the person who shuns the standard three-bedroom, two-bathroom ranch house, here are some quirkier homes you might want to check out.
2917 Sunset Way - St. Pete Beach
The Alamar is a custom-built, three-story waterfront home on Pass-A-Grille Beach in St. Petersburg that was designed with a modern flair by renowned Florida architect Michael Dedmore. This five-bedroom, 5,915-square-foot house was built from solid...
For a limited time, you could own the loftiest penthouse in the Tampa Bay area.
Glass House, a tri-level condo in downtown St. Petersburg’s Signature Place, just went on the market for $3.1 million. Spanning the 34th through 36th floors, it will be the area’s most skyward condo until the 41-story ONE St. Petersburg tower is completed later this year.
Since listing the unit last week, "I’ve already had two showings with potential,’’ agent Becky McConnell said.
The seller, who is building a home on Snell Isle, is asking $1.265 million more than he paid for the condo three years ago. He has not made any changes to the 4,177-square-foot unit, which had undergone a massive renovation by its previous owners, interior designer Rob Bowen and Bob Glaser, CEO of Smith & Associates Real Estate.
Living in a downtown St. Pete condo can offer an exciting maintenance-free lifestyle, including luxury amenities that may not be available with single-family home living. Many seek condo living for the magnificent views and metropolitan lifestyle. Is condo living for you? Here are a few things to consider:
Storage: Many forget about this aspect of condo living. Are you a packrat? Condo living may not be for you. Many buildings offer owners private storage for bikes, boxes, Christmas trees etc. It it something to think about if you are considering a downtown condo.
Noise: Just remember that you are living...
Have you ever driven by that huge mansion and wonder what it's like inside? Take a walk through the the most expensive home for sale in St. Petersburg.
Follow this link to see more information. If this home sells or is taken off the market then this link may not work.
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Below is a chart showing inventory level, pended and sold properties in downtown St. Pete. Actually, it is for zip code 33701. Which includes homes and condos in nearby neighborhoods.
The data above shows that there were 38.9% more downtown properties sold in August of 2018 versus July of 2018. There are about 25% fewer downtown homes and condos for sale when comparing August 2018 to August 2017. For the same time period there were 28.2% more sold properties. When comparing the current quarter versus the same quarter in 2017 there is about 25% fewer properties for sale and 23% fewer sold properties.
August 2018 is a Seller's Market in Downtown St. Pete
The number of for sale listings was down 24.7% from one...