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Downtown St. Pete Sales Up Big in May

The chart below shows downtown St. Pete real estate statistics from March 2016 to May 2017.

Take a look at how much the inventory of homes and condos for sale in downtown dropped in the month of May. Compared to April, the number of properties for sale in zip code 33701 dropped 18% and is about 13% lower than May of 2016. 

Sold properties were up 7% when compared to April 2017 and a whopping 87.5% higher than the same month a year ago. The Pended (under contract) properties increased 36% from April 2017 and is 47.8% higher than May of 2016. 

The Average Sold Price per Square Footage was up 3.9% compared to the previous month and down 1.5% compared to last year. The Median Sold Price increased by 5.6% from last month. The Average Sold Price also increased by 12.4% from last month. Based on the 6 month trend, the Average Sold Price trend is "Neutral" and the Median Sold Price trend is "Neutral".

The Average Days on Market showed a neutral trend, an increase of 1.3% compared to the previous year. The ratio of Sold Price vs. Original List Price is 95%, an increase of 1.1% compared to the previous year.

These are huge increases in sales and decreases in inventory. Economics 101 says that if supplies decrease and demand stays the same or increases than prices will rise. 

Downtown St. Pete Real Estate Sales Stats in May 2017

Current vs. Previous Month

Current vs. Same Month 1 Yr Ago

May. 17 Apr. 17 % Change May. 17 May. 16 % Change
For Sale 155 189 -18%  155 178 -12.9% 
Sold 75 70 7.1%  75 40 87.5% 
Pended 68 50 36%  68 46 47.8% 


Downtown St. Pete Real Estate Months of Inventory

Downtown St. Pete Real Estate Months of InventoryIt is a Seller's Market

A comparatively lower Months of Inventory is more beneficial for sellers while a higher months of inventory is better for buyers.

  • Buyer’s market: more than 6 months of inventory
  • Seller’s market: less than 3 months of inventory
  • Neutral market: 3 – 6 months of inventory

Months of Inventory based on Closed Sales
The May 2017 Months of Inventory based on Closed Sales of 2.1 was decreased by 53.9% compared to last year and down 22.2% compared to last month. May 2017 is Seller's market.

Months of Inventory based on Pended Sales
The May 2017 Months of Inventory based on Pended Sales of 2.3 was decreased by 41.3% compared to last year and down 39.7% compared to last month. May 2017 is Seller's market.


Downtown St. Pete Condo Sales in May 2017

Below are all of the downtown St. Pete condo sales in May 2017 (zip code 33701). Examining the sales more closely you will notice that a large portion of the transactions were in The Salvador. This is the new condo community of 74 units located at 199 Dali Blvd. The large percentage increase in condo sales were due to the completiong of The Salvador. Regardless, there is still less supply of properties for sale in the 33701 zip code. 

Address Legal Subdivision Name Sq Ft Sales Price Year Built SP/SqFt
145 10TH AVE N Unit#6 PAN AMERICAN CONDO 475 $150,000 1940 $315.79
470 3RD ST S Unit#403 BEACON ON 3RD ST THE 798 $150,000 1965 $187.97
200 4TH AVE S Unit#107 MADISON AT ST PETE 743 $220,000 2002 $296.10
400 4TH AVE S Unit#108 SAGE THE CONDO 1,055 $285,000 2007 $270.14
535 4TH AVE S Unit#4 ARLINGTON LOFTS CONDO 1,290 $295,000 2006 $228.68
1120 NORTH SHORE DR NE Unit#201 NORTH SHORE NORMANDY CONDO 1,260 $310,000 1973 $246.03
199 DALI BLVD Unit#301 THE SALVADOR 964 $313,300 2016 $325.00
105 4TH AVE NE Unit#207 TOWNVIEW CONDO 1,035 $310,000 1982 $299.52
1200 N SHORE DR NE Unit#309 SHORE CREST CONDO 1,060 $315,000 1969 $297.17
100 4TH AVE S Unit#101 MADISON AT ST PETE 1,170 $340,000 2002 $290.60
200 4TH AVE S Unit#314 MADISON AT ST PETE 1,128 $357,000 2002 $316.49
199 DALI BLVD Unit#1001 THE SALVADOR 964 $366,320 2016 $380.00
199 DALI BLVD Unit#1201 THE SALVADOR 964 $415,000 2016 $430.50
226 5TH AVE N Unit#1401 WALKER-WHITNEY PLAZA CONDO 1,309 $410,000 2007 $313.22
400 4TH AVE S Unit#801 SAGE THE CONDO 1,260 $420,000 2007 $333.33
604 2ND ST N SIXTH AVE VILLAS 1,426 $425,000 2008 $298.04
1 BEACH DR SE Unit#2709 BAYFRONT TOWER CONDO 1,180 $395,000 1975 $334.75
199 DALI BLVD Unit#403 THE SALVADOR 1,354 $455,000 2016 $336.04
700 BEACH DR NE Unit#602 HARBOUR HILL CONDO 1,365 $425,000 1971 $311.36
199 DALI BLVD Unit#903 THE SALVADOR 1,354 $485,000 2016 $358.20
199 DALI BLVD Unit#902 THE SALVADOR 1,354 $505,000 2016 $372.97
175 1ST ST S Unit#2003 SIGNATURE PLACE CONDO 1,225 $525,000 2009 $428.57
199 DALI BLVD Unit#906 THE SALVADOR 1,483 $541,295 2016 $365.00
199 DALI BLVD Unit#1003 THE SALVADOR 1,354 $542,000 2016 $400.30
199 DALI BLVD Unit#602 THE SALVADOR 1,354 $555,000 2016 $409.90
199 DALI BLVD Unit#905 THE SALVADOR 1,483 $554,000 2016 $373.57
199 DALI BLVD Unit#705 THE SALVADOR 1,483 $562,000 2016 $378.96
199 DALI BLVD Unit#1102 THE SALVADOR 1,354 $567,000 2016 $418.76
199 DALI BLVD Unit#907 THE SALVADOR 1,555 $575,000 2016 $369.77
199 DALI BLVD Unit#1103 THE SALVADOR 1,354 $577,000 2016 $426.14
199 DALI BLVD Unit#1007 THE SALVADOR 1,555 $600,000 2016 $385.85
199 DALI BLVD Unit#1005 THE SALVADOR 1,483 $599,000 2016 $403.91
199 DALI BLVD Unit#1202 THE SALVADOR 1,354 $615,000 2016 $454.21
199 DALI BLVD Unit#1107 THE SALVADOR 1,555 $625,000 2016 $401.93
199 DALI BLVD Unit#1203 THE SALVADOR 1,354 $625,000 2016 $461.60
199 DALI BLVD Unit#1105 THE SALVADOR 1,483 $615,000 2016 $414.70
199 DALI BLVD Unit#1106 THE SALVADOR 1,483 $632,000 2016 $426.16
1 BEACH DR SE Unit#2210 BAYFRONT TOWER CONDO 1,925 $620,000 1975 $322.08
199 DALI BLVD Unit#904 THE SALVADOR 1,810 $660,650 2016 $365.00
199 DALI BLVD Unit#1004 THE SALVADOR 1,810 $687,000 2016 $379.56
199 DALI BLVD Unit#1006 THE SALVADOR 1,483 $675,000 2016 $455.16
199 DALI BLVD Unit#1206 THE SALVADOR 1,483 $699,000 2016 $471.34
1 BEACH DR SE Unit#1614 BAYFRONT TOWER CONDO 2,158 $650,000 1975 $301.20
199 DALI BLVD Unit#1104 THE SALVADOR 1,810 $874,000 2016 $482.87
146 4TH AVE NE Unit#201 ROWLAND PLACE CONDO 2,019 $990,000 2015 $490.34

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