Saint Petersburg, FL 33704 Real Estate Market Report

ZIP Code: 33704
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The real estate market in Saint Petersburg, FL (ZIP: 33704) is currently characterized by a median sold price of $791,000, reflecting a stable market despite some fluctuations in year-over-year data. The neighborhood has increased 15% since 2023, indicating a positive trend in property values. However, the median days on market stands at 268 days, suggesting a slower sales velocity and potential pricing friction as buyers navigate elevated inventory levels.

With a median listing price of $1,175,000, there exists a notable gap between listing and sold prices, which may indicate seller expectations are not fully aligned with current market realities. The market temperature is described as neutral, suggesting a balanced environment where buyer leverage is increasing due to elevated inventory relative to sales activity. This dynamic may provide opportunities for buyers to negotiate more favorable terms, particularly as rental prices are experiencing a slight decrease, further influencing market conditions.

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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 averaging 6.52% compared to 6.37% in early 2025, presenting a slight increase for property owners.

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 median sold price of $791,000 indicates a stable market with a 15% increase since 2023, reflecting positive price appreciation.

2. With a median days on market of 268 days, the market is experiencing slower sales velocity, which may suggest pricing friction for sellers.

3. The median listing price of $1,175,000 creates a significant gap compared to the sold price, indicating potential misalignment between seller expectations and buyer willingness.

4. The market temperature is currently neutral, suggesting a balanced environment where buyers may have increased leverage due to elevated inventory levels.

5. Rental prices are on a slight decline, which may influence buyer sentiment and overall market dynamics.

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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.