Who’s Buying $1 Million+ Homes in St. Pete Beach & St. Petersburg—and What Matters Most to Them?

Who’s Buying $1 Million+ Homes?

• Affluent Retirees: Many high-end buyers are retirees from the Northeast, Midwest, and California, seeking a luxury lifestyle with waterfront access, security, and amenities.
• Remote Executives & Entrepreneurs: With remote work in full swing, successful professionals are relocating for lifestyle and tax benefits, often bringing families with them.
• Second-Home Buyers & Investors: Some buyers are purchasing vacation homes or investment properties, attracted by the area’s strong rental market and appreciation potential.

Where Are They Coming From?

• Northeast: New York, New Jersey, Connecticut, and Massachusetts remain top feeder markets. High taxes and urban congestion are pushing buyers south.
• Midwest: Illinois, Ohio, and Michigan continue to send buyers seeking warmth and waterfront living.
• California & Texas: High property values and cost of living in these states make Florida’s luxury market attractive.
• International Buyers: While not as dominant as domestic, some Canadians and Europeans are still active in the market.

What’s Important to $1 Million+ Buyers?

• Waterfront or Water Views: Direct beach, bay, or Intracoastal access is a top priority. Even partial water views can command a premium.
• Move-In Ready, Modern Finishes: Buyers want updated kitchens, luxury bathrooms, smart home features, and open layouts. Turnkey properties sell faster and for more.
• Outdoor Living: Pools, outdoor kitchens, lanais, and entertaining spaces are more important than ever, especially post-pandemic.
• Security & Privacy: Gated communities and properties with privacy landscaping or security systems are in demand.
• Walkability & Amenities: Proximity to vibrant downtowns, dining, culture, and marinas adds value. Many buyers want to be able to walk or bike to restaurants and shops.
• Low Maintenance: Second-home buyers especially value properties that are easy to care for or in communities with strong HOA services.

Recent Market Data (2024-2025):

• St. Petersburg: The number of $1M+ home sales has steadily increased, with average days on market shrinking, especially for waterfront and downtown properties.
• St. Pete Beach: Luxury homes here often receive multiple offers, particularly if turnkey and well-located. Inventory is tight, keeping prices strong.
• Buyer Profile: According to local MLS and relocation data, roughly 60-70% of buyers in this segment are from out-of-state, with the majority coming from the Northeast and Midwest.

Tips for Sellers in the $1 Million+ Market:

• Stage for Luxury: Invest in professional staging and high-end photography. Highlight indoor-outdoor living, water access, and unique features.
• Market Nationally: Work with an agent who markets beyond Florida—targeting feeder markets is crucial.
• Be Ready for Virtual Showings: Many buyers tour homes remotely. Virtual tours, video walkthroughs, and live video calls can make your property stand out.

Ready to List Your Luxury Home?

If you’re considering selling your $1 million+ property in St. Pete Beach or St. Petersburg, let’s connect! I specialize in luxury and waterfront homes, and my tailored marketing strategies are designed to reach the right buyers—locally and nationwide.

Contact Lisa Martinovic, Waterfront Property Specialist
LPT Realty | Serving Clearwater Beach to St. Pete Beach
Phone: 727-248-3586
Email: lisa@beachyes.com
Website: beachyes.com

Let’s get your home sold for top dollar—reach out today for a complimentary market analysis and customized selling plan!