October 2019 Monthly Real Estate Update

October 2, 2019 by The727Team

Entrance to Snell Isle

What’s included in every real estate update?

Interesting Real Estate Stats

Recommended Articles Of The Month And Why

Real Estate Local News

Interesting Real Estate Stat For This Edition:

Every month we’ll pull an interesting stat for you directly from our MLS for Pinellas County.

Millennials now make up for a solid chunk of the home buying population. According to AuburnPub.com “Making up nearly 40 percent of all home-buyers, millennials are driving the housing market. Many millennials are fleeing expensive areas such as San Francisco, Seattle, and Portland, and moving to more affordable locales with strong job markets and attractive amenities such as outdoor recreation activities, universities, and highly-ranked public schools”

Millennials love sexy mailboxes

The Tampa Bay Market has for a long time been on the bottom of the cost of living index when it comes to housing. We have personally noticed a lot of younger people moving here from larger cities to enjoy the relatively lower cost of living when it comes to home prices. 

They go onto say “While home values in some parts of the country may start leveling off in the near future, home values in the country’s hottest real estate markets are projected to see large increases in the next year, with some expected to rise by nearly 10 percent. Across the entire U.S., home prices are expected to rise 2.5 percent in the next year.”

The influx of millennials and other people from high cost of living areas continues to drive the growth of our real estate market. In addition to that, the St. Pete area continues to gain recognition as a place where many millennials like to live. The combination of nightlife, beaches, beautiful weather, walkability and close proximity to an international airport all make for an attractive place to live for millennials.

Grand Central District

The very walkable Central Avenue with DTSP in the background

This trend will continue as St. Pete continues to grow and attract more and more tech companies. Just last month St. Pete was selected by Spectrum as a “Smart City” which allows them to receive a 3 year grant which will help develop technology in our innovation district. This technology will provide fertile ground for technology companies to come in and grow their businesses within our city.  Take a look at this video to learn more about this program. 

Our Mayor is taking a pro-active approach in ensuring our city continues to develop and become attractive to these tech companies. In this video he explains “Being a smart city allows you to go out and recruit businesses, because businesses in today’s economy are looking for communities that are technologically advanced to give them access to high speed data, and it also allows us to tackle issues related to transportation and our efforts at becoming more sustainable, and more resilient”

Well that is about it for the October 2019 update. I believe St. Pete is still an extremely underrated  city and now is the time to move here. Check out the Forbes article posted below which highlights us as the most under the radar city in Florida.  Every year we are getting more and more national and international recognition and it doesn’t look like it’s slowing down anytime soon. Thanks for reading and have a great day!



Chris Formico

Recommended Articles Of The Month:

For this update, we’ll highlight some must-reads we’ve written:


Top 8 Reasons To Move To Gulfport, Florida– What was once a sleepy fishing village is now a fun small town to live in with walkable bars, restaurants, and a beach!

Local News:

Here are some news stories you may enjoy!

New Details on 400 Central which will be St. Pete’s tallest skyscraperPreliminary estimates are showing this condo building will reach a height of 515 feet. Public hearing required to approve a building this large.

St. Pete rated as “Under The Radar” city by Forbes– St. Pete still considered an under the radar city although it’s the best city in Florida in my opinion!

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727team.com Monthly Real Estate Update