Property values in most of the downtown St. Petersburg neighborhoods have been roaring back from the lows of 2009. We are seeing homes selling in Old Northeast (Old NE) at above their 2006 highs and in some cases 5-10% above those numbers.
Some cities in the center of Pinellas County are lagging behind which were hardest hit, due to the number of foreclosures and short sales, however condos in downtown St. Pete like, The Madison, Parkshore, Signature Place and other are all seeing huge value gains over the past 18 months. With a major lack of inventory in the condo market downtown (view available downtown condos here) we expect to see values continue to rise over the next 12 months.
Waterfront homes in St Petersburg NE area have on average seen $100,000 jumps in the past 12-18 months. Many homeowners who have been waiting for the past 10 years to move can now finally make their move if they can find a home or condo to move into. Check out the Sold St Pete waterfront home here.
If you are considering selling a home in St. Petersburg, Gulfport, Seminole or the Gulf Beaches contact us now for a free property value analysis or click here and we’ll prepare a custom market snapshot of your home so you can quickly guage where your home stands in the marketplace.