St. Petersburg & Pinellas County Real Estate | 2025 Multifamily Investment Outlook

 

The Multifamily Window – Why 2025 Could Be the Best Time to Buy in St. Petersburg and Pinellas County

In the evolving world of real estate, timing is everything — and 2025 might just represent a rare opportunity for investors eyeing the multifamily sector.

Over the past few years, multifamily real estate has faced a series of economic challenges: rising interest rates, inflated construction costs, and tightening lending standards have all contributed to a cooling market. New development starts have slowed dramatically, and many planned projects have been postponed or canceled altogether.

But in every market cycle, periods of uncertainty often set the stage for the next wave of opportunity.

The Perfect Storm for Buyers

Several factors are converging that could make 2025 an ideal time to invest in multifamily properties in St. Petersburg, Pinellas County, and beyond:

• High Interest Rates = Seller Motivation: Many current owners who financed acquisitions during the low-rate era of 2020-2021 are now facing ballooning debt service costs. Refinancing at today's higher rates is often impractical, leading some owners to sell at more reasonable prices.

• Limited New Inventory: Thanks to elevated construction costs and tighter lending conditions, new multifamily supply is expected to be constrained over the next few years. Fewer new units coming online could bolster the value of existing properties.

• Stabilizing Rents: After a turbulent period of sharp increases and sudden corrections, rents are beginning to stabilize in many markets. This predictability makes underwriting investments less risky than in the recent past.

• Demographic Tailwinds: The demand for rental housing remains strong, fueled by Millennials and Gen Zers who are renting longer, as well as Baby Boomers downsizing from homeownership.

Multifamily Outlook: St. Petersburg and Pinellas County

Locally, the St. Petersburg and Pinellas County multifamily markets are showing particularly interesting dynamics. After a rapid surge in development between 2020 and 2023, new construction activity has slowed considerably. Projects that broke ground before interest rates rose are now coming online, but very few new projects are entering the pipeline, suggesting a future supply shortage.

Vacancy rates in downtown St. Petersburg remain relatively low, and rental demand is being supported by strong job growth in sectors like healthcare, tech, and hospitality. Areas like Kenwood, Uptown, and Old Northeast have seen sustained tenant interest, while beach communities such as Madeira Beach and Treasure Island continue to attract short-term rental investors.

Average multifamily sale prices across Pinellas County have corrected slightly from their 2022 peaks but remain historically strong, offering a more balanced environment for buyers. Smaller properties like duplexes, triplexes, and quads are particularly appealing, given their flexibility and lower entry points compared to larger apartment complexes.

Investors should also watch for emerging opportunities in areas undergoing redevelopment, such as the EDGE District and the Skyway Marina District, where local government incentives and infrastructure improvements could drive future growth.

Curious about the best neighborhoods for investment? Check out our guide to Top St. Petersburg Neighborhoods for Investors.

What Smart Investors Should Watch

While the fundamentals look promising, successful investing in 2025 will still require careful strategy. Key factors to monitor include:

• Location Quality: Urban areas with strong job growth, educational institutions, and diverse economies are likely to outperform.

• Debt Structuring: Given current interest rates, conservative leverage and longer-term debt options could be critical.

• Property Management: Operational excellence will matter more than ever as tenants become more value-conscious.

• Tax Planning: Utilizing strategies like 1031 exchanges could allow investors to defer capital gains taxes when repositioning portfolios.

• Cash Flow Focus: Prioritize properties with strong current or projected cash flow to better weather interest rate volatility.

Challenges to Watch For

While 2025 presents strong buying opportunities, investors should remain cautious of potential headwinds. Rising property insurance costs across Florida, especially in coastal areas like Pinellas County, could impact operating expenses. Additionally, affordability pressures could limit future rent growth in some markets. Thorough due diligence remains key to success.

Frequently Asked Questions

Is now a good time to invest in multifamily properties in St. Petersburg?

Yes, 2025 is shaping up to be a prime opportunity for multifamily investments in St. Petersburg and Pinellas County, driven by motivated sellers, strong rental demand, and limited new supply.

Which neighborhoods in Pinellas County are best for multifamily investments?

Kenwood, Uptown, Old Northeast, and the EDGE District offer great potential due to strong tenant demand and proximity to downtown St. Pete amenities.

Are smaller multifamily properties like duplexes and triplexes good investments in 2025?

Absolutely. Duplexes, triplexes, and quads are increasingly attractive to investors for their affordability, easier financing options, and flexibility compared to larger apartment complexes.

Conclusion

Thinking about making a move? Whether you're a first-time multifamily investor or looking to expand your portfolio in St. Petersburg or Pinellas County, reach out to explore today's opportunities.

If you've been waiting for the right time to re-enter or expand your multifamily portfolio, 2025 could offer the kind of market conditions that don't come around often. Staying informed, patient, and strategic will be the keys to unlocking the opportunity ahead.

Let's Connect! If you're considering investing in multifamily properties in St. Petersburg or anywhere in Pinellas County, I'm here to help. Visit SunCoastHome.com or contact me directly at 727-204-5001 to start a conversation about your goals. Let's find the right opportunities together!

Stay tuned — in upcoming posts, we'll dive deeper into which markets are showing the most potential, and how to position yourself for success in this new phase of the cycle.

Twin 31-Story Towers Could Redefine Downtown St. Pete!

 

A significant new development could soon reshape the skyline of downtown St. Petersburg.

Developers have submitted plans for a $225 million project at 800 2nd Avenue South—the former site of UPC Insurance headquarters. The proposal includes two 31-story towers with 824 apartments and nearly 36,000 square feet of ground-floor retail space.

The existing 40,000-square-foot building, which temporarily served as the Tampa Bay Rays’ office after Hurricane Milton impacted Tropicana Field, is set to be demolished to clear the site.

If approved, the twin towers would become the tallest buildings west of 5th Street and rank among the ten tallest structures in downtown St. Pete—marking another bold step in the city’s vertical expansion.

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Is St. Pete Growing Too Fast?

As downtown continues to rise, so does the conversation around what that growth means.

Supporters view the project as a much-needed response to housing demand and a sign of healthy economic momentum. But others worry about how rapid development could impact traffic, infrastructure, affordability, and the character of the city.

Is this the natural next step for a thriving city—or is St. Pete at risk of outgrowing its charm?

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What Do You Think?

We’d love to hear your thoughts!
Is the proposed development a win for the city—or cause for concern?

📊 Quick Poll:
Do you support the new twin-tower development in downtown St. Pete?

• ✅ Yes – We need more housing and growth

• 🤔 Maybe – Depends on how it impacts the area

• ❌ No – It’s too much, too fast

🗣️ Join the Conversation:
Whether you're a longtime resident, business owner, or just curious about St. Pete’s future, your perspective matters. Feel free to leave a comment or reach out directly.

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Let’s Talk Real Estate

Curious how this project—or the city’s broader growth—might affect property values or your real estate goals? I’m always happy to help.

Keyvan Kohan
Broker Associate, RE/MAX Metro
📞 727-204-5001
✉️ kkshohet@gmail.com
🌐 www.SunCoastHome.com

Top 7 Restaurants with a View in St. Pete Beach

 

St. Pete Beach is a coastal gem just 15 minutes from downtown St. Petersburg, Florida. Known for its sugar-white sand, Gulf sunsets, and laid-back charm, it’s the perfect setting for unforgettable waterfront dining. Whether you’re entertaining guests, planning a date night, or just craving fresh seafood with a view, these standout restaurants offer something for everyone — and they’re all open and thriving in 2025.

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🌅 The Hurricane – Pass-a-Grille

Cuisine: Classic Florida seafood & American
Highlights: Grouper sandwich, shrimp po’boy, conch fritters
Price Range: $$ (most entrées $15–$28)
Why Go: This iconic beach bar has been a local favorite since the ‘70s. Head to the rooftop lookout for panoramic Gulf views, cold drinks, and a classic Florida experience.

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🥩 1200 Chophouse – Gulf Blvd

Cuisine: American steakhouse
Highlights: Bone-in ribeye, pork chop, seared scallops, cheesecake
Price Range: $$$ (most entrées $28–$45)
Why Go: Cozy and upscale, 1200 Chophouse is ideal for a romantic dinner or special occasion. It’s just steps from the beach, making it the perfect sunset follow-up.

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🇺🇸 Red, White & Booze – Pass-a-Grille Marina

Cuisine: Southern-style seafood & pub fare
Highlights: Fish tacos, fried oysters, shrimp & grits
Price Range: $$ (most entrées $14–$25)
Why Go: Formerly Sea Critters Café, this vibrant marina-front spot brings patriotic flair, live music, and great dockside views. Boat-friendly and dog-friendly too!

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🌞 Paradise Grille – On the Beach

Cuisine: Casual beachside eats
Highlights: Breakfast burritos, mahi sandwiches, smoothies
Price Range: $ (most items under $15)
Why Go: Come as you are — barefoot and sandy — and enjoy relaxed food and drinks directly on the beach. Multiple beachfront locations with picnic tables and unbeatable sunsets.

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🍷 Maritana at The Don CeSar – Inside the Pink Palace

Cuisine: Upscale coastal cuisine
Highlights: Lobster gnocchi, yellowtail snapper, wagyu beef
Price Range: $$$$ (most entrées $38–$60+)
Why Go: Elegant and romantic, Maritana is perfect for special occasions. Located in the iconic Don CeSar, this fine-dining experience blends old-world charm with Gulf-front ambiance.

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🐬 Buoy’s Waterfront Bar & Grill – Blind Pass Channel

Cuisine: Casual seafood & American
Highlights: Brunch Benedicts, crab cakes, oysters, fish tacos
Price Range: $$ (most entrées $14–$26)
Why Go: Lively and laid-back, Buoy’s is a favorite for brunch or happy hour. Watch the boats cruise by and keep an eye out for dolphins — it’s a true waterfront gem.

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🍹 Salty’s Tiki Bar and Beach Lounge – TradeWinds Island Grand

Cuisine: Tiki bar bites & frozen drinks
Highlights: Coconut shrimp, beach burgers, tropical cocktails
Price Range: $–$$ (bites and drinks $10–$20)
Why Go: Fire pits, live music, and cocktails in the sand — this beachfront tiki bar is the ultimate place to kick back and soak in the sunset.

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🐟 Local Tips: Make the Most of Your Visit

There’s more to do in St. Pete Beach than just dine! Here are a few favorite local activities:

🎣 Fishing:

• Cast from Pass-a-Grille Jetty or Blind Pass Bridge

• Charter deep-sea trips from Merry Pier or John’s Pass

🚤 Water Adventures:

• Rent jet skis, paddleboards, or kayaks at Upham Beach or TradeWinds

• Try parasailing or take a floating tiki bar cruise for something unique

🐬 Dolphin & Sunset Cruises:

• Book a dolphin tour or sunset sail from Corey Avenue or Pass-a-Grille Marina

• Many options include island stops, drinks, and wildlife watching

🚗 Getting Around:

• Use the Freebee electric shuttle (it’s free and fun!)

• Parking is available at Upham Beach and Pass-a-Grille — come early for a good spot

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📍 Final Word

From fine dining inside a historic pink hotel to casual cocktails in the sand, these waterfront restaurants capture the best of St. Pete Beach — views, vibes, and fresh coastal flavors. Whether you’re here for a day, a week, or thinking about making it your home, there’s always something beautiful waiting just beyond the shoreline.

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✨ Thinking about moving to St. Pete Beach or investing in a vacation property?
I’ve helped clients buy and sell real estate in this area for over 30 years. Let’s connect and make your Gulf Coast dream a reality.

St. Petersburg & Pinellas County Real Estate Market Update – March 2025

 

The spring real estate season is well underway in Pinellas County — from the sandy shores of St. Pete Beach to the historic streets of downtown St. Petersburg. Whether you're in Clearwater, Seminole, or Gulfport, understanding local trends gives you a competitive edge in today’s market. Here's a look at how the Pinellas County housing market performed in March 2025 — and what it means if you're thinking of buying or selling.

🏢 Condo & Townhome Market: Buyers Regain Leverage

• Inventory: 8.89 months (↑ 190.5% year-over-year)

• Median Sale Price: $275,000 (↑ 0.36% month-over-month)

• Sold-to-List Price Ratio: 95.6%

• Average Days on Market: 59

• Units Sold: 657 (MLS + public record)

• New Listings: 1,026

• Pending Sales: 649

Market Insight:
The condo market across Pinellas — especially in coastal areas like St. Pete Beach, Indian Rocks Beach, and Clearwater — has seen a significant jump in inventory. Buyers now have more options and stronger negotiating power. Prices are holding, but motivated sellers are adjusting to compete. This is an ideal time to explore condos for sale near the Gulf, whether you're looking for a vacation home or an investment property.

🏠 Single-Family Homes: More Inventory, Steady Demand

• Inventory: 4.85 months (↑ 158% year-over-year)

• Median Sale Price: $470,000 (↑ 1.08% month-over-month)

• Sold-to-List Price Ratio: 96.7%

• Average Days on Market: 37

• Units Sold: 1,015

• New Listings: 1,381

• Pending Sales: 1,093

Market Insight:
From Northeast St. Pete to Largo and Dunedin, the single-family home market remains active. More listings are hitting the market, but demand continues — especially for move-in-ready homes in walkable neighborhoods and waterfront communities. Buyers are still moving quickly on well-priced properties, making expert pricing and presentation essential for sellers.

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💡 Thinking of Selling Your Pinellas County Home?

As more homes hit the market this spring, standing out is key. Whether you're in St. Petersburg, Clearwater, Gulfport, or Seminole, having the right pricing strategy and local marketing plan can make all the difference.

📞 Let’s talk about your home’s value and the best time to sell.
Visit www.SuncoastHome.com or call/text Keyvan Kohan at (727) 204-5001 for a free home valuation and custom selling strategy.

Best Beaches Near Sarasota & St. Petersburg Florida : 2025 Local Ranking

 

Whether you're a sun-seeker, seashell collector, or just looking for a peaceful slice of paradise, the Gulf Coast of Florida delivers some of the best beaches in the country. From the sugar-soft sands of Siesta Key to the vibrant energy of St. Pete Beach, here’s your updated 2025 guide to the top beaches near Sarasota and St. Petersburg.

What are the best beaches near Sarasota and St. Petersburg in 2025?
The top 5 beaches near Sarasota and St. Petersburg in 2025 are:

• Siesta Key Beach – Known for powdery white quartz sand and family-friendly fun.

• St. Pete Beach – Vibrant beach bars, calm waters, and sunset views.

• Lido Key Beach – A quieter, natural beach ideal for shelling and paddleboarding.

• Pass-a-Grille Beach – A charming, laid-back spot with Old Florida vibes.

• Anna Maria Island – A peaceful barrier island with wide sands and no crowds.

🌴 1. Siesta Key Beach (Sarasota)

Famous for its powdery white quartz sand, Siesta Key consistently ranks among America’s top beaches. The clear turquoise waters and wide shoreline make it perfect for families, sunbathers, and volleyball lovers alike.

Condo Price Range: $325,000 to over $8.7 million, depending on location and amenities. ​

Local Tip: Arrive early—parking fills fast, especially on weekends!

📍 Explore the area: Sarasota vs. St. Pete: Which Florida City is Right for You?

🌊 2. St. Pete Beach (St. Petersburg)

A local favorite, St. Pete Beach offers calm waters, vibrant beach bars, and incredible sunset views. The beach is walkable and lined with restaurants, shops, and water sport rentals.

Condo Price Range: $250,000 to over $1 million, with waterfront properties commanding premium prices. ​

Don't Miss: Catch a sunset at the Don CeSar for a postcard-worthy experience.

📍 Learn more about the vibe: New Developments in Downtown St. Pete

🐚 3. Lido Key Beach (Sarasota)

Located just minutes from downtown Sarasota, Lido Key blends natural beauty with a quieter vibe than its Siesta sibling. It's ideal for picnics, shelling, and paddleboarding.

Condo Price Range: Approximately $500,000 to over $3 million, depending on proximity to the beach and building amenities.​

Bonus: After the beach, stroll around St. Armands Circle for boutique shopping and dining.

📍 Compare beach towns: Sarasota vs. St. Pete 2025 Housing Market

🏖️ 4. Pass-a-Grille Beach (South St. Pete Beach)

Tucked away at the southern tip of St. Pete Beach, Pass-a-Grille feels like Old Florida. Quaint cottages, a walkable downtown, and peaceful shores make this a hidden gem.

Condo Price Range: Approximately $400,000 to $900,000, with prices varying based on location and amenities.​

Local Favorite: The rooftop bar at The Hurricane for cocktails and Gulf views.

📍 Check out nearby history: Babe Ruth’s St. Petersburg Home

🌺 5. Anna Maria Island (Just North of Sarasota)

This laid-back barrier island is known for its slow pace and natural charm. Holmes Beach and Coquina Beach are top picks here, offering wide sand and clear waters without the crowds.

Condo Price Range: Approximately $500,000 to over $1.5 million, depending on location and property features.​

Insider Tip: Rent a bike or golf cart to explore like a local.

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☀️ Ready to Soak Up the Sun?

From the lively boardwalks to peaceful retreats, Sarasota and St. Petersburg beaches offer something for every lifestyle. Whether you’re planning a visit or thinking about relocating, these coastal gems are worth exploring.

📲 Visit SunCoastHome.com to browse properties near your favorite beaches, or call us at 727-204-5001 to start your Gulf Coast journey today.