What Season is Best for Selling Your Home in St. Petersburg

Situated on the peninsula between Tampa Bay and the Gulf of Mexico, St. Petersburg offers many benefits that make it an appealing place to live. Home to many of the nation’s top-ranked beaches, St. Petersburg is a popular summer vacation destination that residents can enjoy all year round. Those looking for less sandy activities can get out on the water and spend some time boating, fishing, paddle boarding, and more.

There’s also plenty to do inland, as well. St. Petersburg is home to the Salvador Dali Museum and the Chihuly Glass Collection, among other art collections and events. Downtown St. Petersburg also boasts a vibrant culinary scene, with plenty of trendy restaurants and bars to suit any palate. Visitors can then find their way to one of the area's many music venues, like Jannus Live, to see some of music’s biggest touring acts.

Sports fans shouldn’t feel left out, as St. Petersburg is home to the MLB’s Tampa Bay Rays and is only a short drive from the Buccaneers’ football and the Lightning’s hockey stadiums.

With so much to offer, it’s easy to understand why St. Petersburg attracts new residents from other states. Such demand in the St. Petersburg real estate market means that anytime is a great time to sell. However, some times are better than others to sell, depending on your goals.

According to Florida Realtors, the peak time for median sales prices in the St. Petersburg area during 2022 was during the second quarter (April, May, and June). Median sales prices during the second quarter came in at $411,000, over $31,000 better than the year-low of $379,900 during the first quarter.

While the first quarter in 2023 improved to a median sale price of $390,000, the second quarter has already jumped above that figure, with median prices in April reaching $400,000. Based on this information, it’s clear that the best season to sell a St. Petersburg home for the most value is during the spring months.

While nearly all home sellers want to get the best value for their home, other factors like the speed of the sale will also come into play. Perhaps they are relocating for work and want to sell their house before they move. A seller could be purchasing a different home and needs the funds from the sale to do so. There are many other potential reasons why a seller prefers to close a sale quickly.

Buyer demand in markets like St. Petersburg will also affect how quickly a home will sell after it hits the market. Homes for sale in St. Petersburg were as hot a commodity a year ago, with the average sales time in April 2022 coming in at a measly 10 days. While that rate has cooled off to an average of 41 days in April 2023, that is still a full week faster than the national median average of 49 days.

Looking at 2022 sales statistics in Pinellas County, where St. Petersburg is located, we see a large discrepancy in the average median sales time across the year. The shortest amount of time for sales came in March and April, with a median sales time of 39 days. The longest period came in October when the median was 64 days.

If we look at the year in terms of quarters, there was also a clear trend in which time of year was best for quick sales. The average median days to sell for were 43 in the first quarter, 40 in the second, 50 in the third, and 62 in the fourth. These numbers indicate that, much like selling for the best value, spring is the best season for selling a home quickly in St. Petersburg.

So, what is it about springtime that drives buyers to St. Petersburg? There are a wide variety of reasons why the market sees a surge during that time, but a few stand out.

The obvious answer is that many new residents want to take advantage of the spring and summer climates. Whether it be singles or families, many buyers are escaping the harsh winter months of the north for the sunny, clear skies of the Gulf Coast.

Spring also falls in line with the end of the school year for many students. Rather than uproot their children in the middle of the school year, many parents prefer to move during the summer break for an easier transition.

The influx of moves is also driven by something other than just the time of year: money.

Many of the states that lost the highest number of residents are also among those with the highest state income taxes. In comparison, Florida has no income tax, relying more on sales tax revenue from its robust tourism industry.

With a cheaper and sunnier alternative place to live in, it’s easy to see why so many people are buying homes in St. Petersburg.

Regardless of your goals as a seller, working with an experienced realtor will help ensure you get closer to reaching them. For 27 years, buyers and sellers in the St. Petersburg area have trusted The Salamone Group to achieve their real estate goals. With over 100 years of combined experience, Andrew Salamone and his team have proven to be the premier luxury realtors for selling St. Petersburg homes. Whatever your goal may be when selling your home, contact Andrew to get the most out of your experience.