2 Pinellas Cities Rank Top Spots For Fastest-Growing Home Prices

Yup, you read that right. Even though we thought everyone was moving to the Tampa area, a recent report tells us that the fastest-growing cities are actually in Pinellas. There's lots to love about Pinellas, the fact that it's home to some of the country's best beaches, some of the best school districts, and a great place to raise a family. This might be why 2 Pinellas cities rank in the top spots for fastest-growing home prices.

Stacker recently compiled a list of cities with the fastest-growing home prices in 2023 in the Tampa Bay area. They got their info from home prices on Zillow and ranked by their one-year change in price as of October 2023. Stacker also tells us that the typical home value in the United States was $347,972 in October, 2.3% higher than the year before. Interest rates have also stayed in that 7-8% range, making it a very competitive market. Before mortgage rates started spiking, homebuyers were able to lock in rates that are far more affordable than what’s suddenly on offer in today’s environment. It also doesn't help that sellers aren't exactly coming down on price. In a lot of metro areas, home prices are still increasing. This brings us to the Tampa Bay area cities with the fastest-growing home prices.

Other Pinellas cities to make this list are Harbor Bluffs, which is by Indian Rocks Beach, and Palm Harbor. Stacker has a list of 30 cities in the Tampa Bay area with the fastest-growing home prices, click here to view the full list.

Coming in at #2 on Stacker's list is Dunedin. No wonder why home prices are skyrocketing in Dunedin. There's so much to see and do there, not to mention you are pretty centrally located in the Tampa Bay area. The typical home value is $445,514 (#21 most expensive city in Tampa metro) and they saw a 3.1% increase in price in just 1 year. That percentage jumps to 78% if you compare prices from five years ago.

The number 1 city for fastest-growing home prices is Safety Harbor. Much like Dunedin, Safety Harbor is centrally located in other popular spots in the Tampa Bay area like St. Pete, Tampa, Clearwater, etc. This would make it an ideal spot for someone who is trying to raise a family but may have to commute to their job. The typical home value in Safety Harbor is $519,382 (#16 most expensive city in the Tampa metro).

It's a tough market to become a new homeowner. But on the bright side, there are some Florida cities where some homes are selling below their asking price. Some are even a quick drive from the Tampa Bay area. We got the list from Stacker, who analyzed data from Redfin. Their data shows sales from the month of December 2022.

The average 30-year fixed rate mortgage sits just above 6%. Even if it trends a half of a percentage point, it can have an outsized impact on the monthly payments required for a mortgage. Before mortgage rates started spiking, homebuyers were able to lock in rates that are far more affordable than what’s suddenly on offer in today’s environment. It also doesn't help that sellers aren't exactly coming down on price. In a lot of metro areas, home prices are still increasing.

And yet there are still metro areas where homebuyers are finding homes selling for below asking price.

One thing that could skew this data is something that’s happening here in many parts of Florida. People are ‘first listing’ at a ridiculous price just to see if they get lucky. If they don’t, 2 weeks later they lower the price. The point being, if you’re looking to buy you should be very skeptical of that ‘first listing’ price. After viewing the home, see if you can make a reasonable offer, who knows, you could get lucky!

Our list just includes the cities in Florida where homes are likely to sell under asking price. If you'd like to see how they match up to other metros in the country, click here for the full study.

– Number 36 on Stacker's list
– Average sale-to-list ratio: 0.97
– Median list price: $337,900
– Median sale price: $318,950
– Total homes sold: 692

– Number 35 on Stacker's list
– Average sale-to-list ratio: 0.97
– Median list price: $299,000
– Median sale price: $269,000
– Total homes sold: 638

– Number 34 on Stacker's list
– Average sale-to-list ratio: 0.97
– Median list price: $357,000
– Median sale price: $349,870
– Total homes sold: 959

– Number 33 on Stacker's list
– Average sale-to-list ratio: 0.97
– Median list price: $399,989
– Median sale price: $385,000
– Total homes sold: 3,010

– Number 30 on Stacker's list
– Average sale-to-list ratio: 0.97
– Median list price: $375,000
– Median sale price: $369,990
– Total homes sold: 4,215

– Number 29 on Stacker's list
– Average sale-to-list ratio: 0.97
– Median list price: $480,000
– Median sale price: $449,098
– Total homes sold: 639

– Number 28 on Stacker's list
– Average sale-to-list ratio: 0.97
– Median list price: $508,327
– Median sale price: $450,000
– Total homes sold: 1,547

– Number 24 on Stacker's list
– Average sale-to-list ratio: 0.97
– Median list price: $399,995
– Median sale price: $385,000
– Total homes sold: 710

– Number 17 on Stacker's list
– Average sale-to-list ratio: 0.97
– Median list price: $430,000
– Median sale price: $384,945
– Total homes sold: 1,400

– Number 16 on Stacker's list
– Average sale-to-list ratio: 0.97
– Median list price: $430,000
– Median sale price: $384,945
– Total homes sold: 1,400

– Number 15 on Stacker's list
– Average sale-to-list ratio: 0.97
– Median list price: $385,000
– Median sale price: $359,429
– Total homes sold: 409

– Number 13 on Stacker's list
– Average sale-to-list ratio: 0.97
– Median list price: $354,495
– Median sale price: $339,900
– Total homes sold: 1,023

– Number 12 on Stacker's list
–Average sale-to-list ratio: 0.97
– Median list price: $395,000
– Median sale price: $380,000
– Total homes sold: 2,057

– Number 10 on Stacker's list
– Average sale-to-list ratio: 0.97
– Median list price: $399,999
– Median sale price: $365,000
– Total homes sold: 348

– Number 7 on Stacker's list
– Average sale-to-list ratio: 0.96
– Median list price: $530,000
– Median sale price: $455,000
– Total homes sold: 1,879

– Number 4 on Stacker's list
– Average sale-to-list ratio: 0.96
– Median list price: $799,450
– Median sale price: $580,000
– Total homes sold: 687

– Number 2 on Stacker's list
– Average sale-to-list ratio: 0.96
– Median list price: $465,000
– Median sale price: $415,000
– Total homes sold: 1,907