14 days
Half the renovated homes in Tampa Bay’s top neighborhoods went under contract this fast.
Old Northeast · Avila · Palma Ceia Park · Maryland Manor · Hyde Park West · 28 sales, last 12 months
Get new listings first See the proof →Luxury › Buying
Buying · Hillsborough & Pinellas · $1M+
Buying a $1M+ home in Tampa Bay
15% under
Homes needing updates in top neighborhoods usually sold this far under their first asking price.
Old Northeast · Avila · Palma Ceia Park · Maryland Manor · Hyde Park West · 42 sales, last 12 months
See their price history See the proof →For sale now
$1.485M
Price cut $94,000
3 bd · 3 ba · 2,448 sq ft
Old Northeast · St Petersburg
756 17th Avenue
Listing courtesy of RE/MAX ACTION FIRST OF FLORIDA
Ask about this homeBuying
What a millionaire gets on each side of the bay, and the catch with each
The typical $1M+ sale was $1.4M on both sides of the bay last year. A $2 million house in Tampa is typically 4,040 sq ft, built in 2007. In Pinellas it is 3,200 sq ft, built in 1972.5, and two in three of them are on the water. Buyers pay 32% more per square foot in Pinellas for that.
| Tampa sideHillsborough | PinellasSt. Pete · Clearwater · the beaches | |
|---|---|---|
| A $1.75–2.25 million house | ||
| Size | 4,040 sq ft | 3,200 sq ft |
| Built | 2007 | 1972.5 |
| On the water | 27% | 65% |
| In a flood zone | 37% | 79% |
| Every $1M+ home sold in the last 12 months | ||
| Price per sq ft | $438 | $580 |
| Paid all cash | 35% | 53% |
| Days to an accepted offer | 37 | 62 |
| Came off the market unsold | 28% | 36% |
| Luxury condo fees, a year | $31,000 | $19,700 |
The catch in Pinellas
- Flood zones. 79% of $2 million houses sit in one, where a lender requires flood insurance. 53% of Pinellas luxury buyers paid cash.
- The beach towns after Helene and Milton. $743 a square foot before the 2024 storms, $662 the year after, $679 now. Before, 37% of listings didn’t sell; since, 48%.
- Older houses, slower resale. Typically built in 1979. 62 days to an offer, and 36% came off the market unsold.
The catch in Tampa
- Less water. Only 1 in 4 $2 million houses is on the water.
- Flood still matters. 37% of $2 million houses are in a flood zone too.
- Condo fees. A luxury condo’s association fee runs a median $31,000 a year, against $19,700 in Pinellas.
- What you get for it: newer (typically built 2005), more space per dollar, and 28% came off unsold against 36%.
Buying
275 of 586
luxury homes that already cut their price still ask 10% or more per square foot than similar homes nearby sold for.
703 of the 1,332 homes over $1M for sale have cut their price, 23 by $1 million or more. A price cut is not the same as a fair price.
Check a home before you offer →In plain English
Your negotiating position isn’t a guess — it shows up in the records.
Homes still for sale after their first month have typically sold for about 10% under their first price. Flood zone, waterfront, the building’s age and how long a home has sat all shift the leverage toward you. These pages show where.
Selling
Will a $1M+ home sell? About 1 in 3 didn’t within a year
33%
of $1M+ homes listed January 2024 to October 2025 didn’t sell within a year, counting private sales.
Clear pattern · 24-point gapSelling
The first month sets the price
97% → 90%
of the first price: an offer in the first 30 days, then after.
Clear pattern · 21-point gapBuying
Flood zones and waterfront: no difference before 2024, a big one since
40% vs 25%
of homes in flood zone AE vs zone X didn’t sell within a year (listed since 2024).
Clear pattern · 20-point gapBuying
Luxury condos got harder to sell in 2024 — especially in older buildings
43% vs 33%
of $1M+ condos vs houses didn’t sell within a year (listed since 2024).
Clear pattern · 32-point gapBuying
About half of $1M+ homes are bought with cash
72%
of $5M+ homes sold since 2024 were paid for in cash.
8,236 $1M+ salesNeighborhoods where buyers have room right now
From the last 180 days of sales, updated daily.
St Petersburg
Art House Condo
About 47.3 months of luxury inventory — buyers set the pace
Clearwater Beach
Residences at Sandpearl Resort Condo
About 41.4 months of luxury inventory — buyers set the pace
Clearwater
Marina Bay 880 Condo
About 41.4 months of luxury inventory — buyers set the pace
St Pete Beach
Morey Beach
About 35.5 months of luxury inventory — buyers set the pace
Tarpon Springs
Wentworth
About 29.6 months of luxury inventory — buyers set the pace
Tampa
Davis Islands Rep of Pt O
About 23.7 months of luxury inventory — buyers set the pace
Know which listings are already losing the argument.
Tell me what you are looking for. I will send the listings where time, a relist or a flood zone has already moved the leverage to your side — and the ones where it has not.