Saint Petersburg, FL 33701 Real Estate Market Report

ZIP Code: 33701
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Saint Petersburg, FL are 6.3% compared to the 5.9% average observed when typical loans originated in this market in early 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The primary indicator, median sold price, is 624,900, which alongside a higher median listing price of 762,500 suggests seller asking expectations exceed recent transaction prices and may create pricing friction that buyers can exploit when negotiating.

2. The market shows slower transaction velocity with a median days on market of 351, which suggests slower sales velocity and may require sellers to use price or terms to reaccelerate deals.

3. Inventory conditions in the analyzed sample point to relatively constrained active supply while sales continue at a measured pace, and the median price per square foot of 275 positions the neighborhood in a mid-to-upper local pricing tier that investors and buyers should benchmark against nearby submarkets.

4. Rental economics show a median market rent of 1,900 with rent year-over-year trend reported as down, and financing headwinds are present as current 30-year fixed mortgage rates are 6.3% compared to an early-2026 average of 5.9%, indicating moderate interest rate pressure that may temper buyer urgency.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.

Saint Petersburg, FL 33701 Real Estate Market Report

ZIP Code: 33701
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Saint Petersburg, FL are 6.3% compared to the 5.9% average observed when typical loans originated in this market in early 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The primary market indicator, $1,235,000 median sold price, anchors current market value and shows realized transaction prices are below the $1,324,500 median listing price, which may indicate seller pricing expectations are above what recent buyers have paid. pricing friction

2. The market exhibits slower sales velocity with a median days on market of 323, which suggests longer time to transact and may indicate buyers are exercising greater selection or negotiating leverage in this neighborhood. neutral

3. Price intensity remains high at a median price per square foot of 713 while the median market rent is 3,000 and rent trends are down, signaling weaker rent growth even as price levels remain elevated—this may compress near-term rental yield expectations. down

4. Market-wide indicators show a neutral market temperature with price year-over-year trend: up but interest rate pressure: moderate; note that current 30-year fixed mortgage rates are 6.3% compared to the 5.9% market average when typical loans originated, which may temper buyer affordability and negotiation dynamics. moderate

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.