Pinellas, FL Home Value Growth YoY decline to -3.0% with 6,226 Homes for Sale in 2025
February 27, 2025
The housing market in Pinellas County, FL is experiencing a downturn, with home values declining and inventory increasing. Home value growth (YoY) has dropped to -3.0% in 2025, indicating a shift toward a buyer’s market. The number of homes for sale has risen to 6,226 from 5,100 in 2024, reflecting growing supply and weaker demand. This shift in market dynamics presents more options for buyers, who now have increased negotiating power. However, sellers must adopt strategic pricing to remain competitive in a market where home values are declining.
Pinellas, FL’s Home Value Growth YoY Analysis Over the Years
According to data from the Reventure App, Pinellas County’s housing market has experienced notable fluctuations in home value growth over the years. Before the housing crash (2001-2007), home values in Pinellas County experienced steady appreciation, peaking at 27.0% in 2005. However, the 2008 financial crisis triggered a sharp market decline, with home values dropping by -7.3% in 2008 and further plummeting to -15.0% in 2009, reflecting the broader national housing crash.
Pinellas, FL’s home value growth YoY decreased by -3.0% in 2025. Access the above home value growth YoY map of the county here. [Link]
From 2010 onwards, the market gradually recovered, with YoY growth moving back into positive territory by 2012 (5.9%). Between 2013 and 2019, home value growth remained stable, fluctuating between 7.1% and 10.5%, reflecting a balanced market with steady appreciation. During the pandemic (2020-2021), Pinellas County saw a significant surge in home prices due to high demand and low inventory. Growth peaked at 13.6% in 2021, reflecting nationwide housing inflation trends.
Post-pandemic (2022-Onwards), the market has experienced a slowdown, with home value growth falling sharply to -3.0% in 2025 and pricing falling to $380,877, suggesting a market correction. This decline indicates softening demand, rising mortgage rates, and increased inventory.
Homes Value Growth Trend in Different Zip Codes of Pinellas County
Pinellas County’s housing market has displayed varied trends across different zip codes. Among the better-performing zip codes, 33756 (Clearwater) recorded a -1.6% YoY decline, which, while still negative, represents a relatively stable market compared to other areas. 33778 (Largo) followed closely with a -1.7% decrease, though its 35.0% overvalued rate suggests potential corrections ahead. Similarly, 34695 (Safety Harbor) saw a -2.1% drop, indicating mild cooling but remaining more stable than other locations.
ZIP 33409 showed the highest home value growth YoY in Pinellas County. Access the above home value growth map here. [Link]
In contrast, some zip codes have shown steeper declines. 33773 (Largo) recorded a -2.5% decrease, with a 69.5% price cut rate, hinting at significant adjustments in home pricing. 33786 (Belleair Beach) experienced a -2.6% dip, although its 6.9% overvaluation rate suggests that it may not be as overpriced as other locations. Meanwhile, 34698 (Dunedin) and 34677 (Oldsmar) both saw -2.7% YoY declines, indicating market corrections in those areas.
At the lower end, some zip codes experienced even sharper drops. 33755 (Clearwater) saw a -3.2% decline, with a 21.9% overvaluation rate and price cuts at 28.4%, suggesting weaker demand. 33767 (Clearwater Beach) witnessed a -4.7% drop, highlighting a more pronounced cooling effect in the beachfront market. The biggest decline was recorded in 33716 (Saint Petersburg) at -10.5% YoY, indicating the most significant market correction in Pinellas County.
Pinellas, FL’s Housing Market Predictions in 2025
The housing market in Pinellas County, FL, is shifting towards a buyers’ market in 2025, with home prices expected to decline further. According to Reventure App’s Home Price Forecast, the market score has dropped to 34 out of 100. A score below 45 indicates a declining market with reduced buyer demand, longer days on the market, and more price cuts.
Pinellas, FL Home price forecast score reached 34/ 100 entering 2025. Access the county’s home price forecast score chart here. [Link]
The rapid increase in available homes and rising mortgage rates have weakened demand, leading to steadily falling prices. With inventory surging across multiple ZIP codes and sellers facing increased competition, home prices are likely to decline further throughout the year.
Buyers will have the upper hand, with more options and increased negotiating power. Sellers, on the other hand, must adjust pricing strategies to attract buyers in this shifting dynamic. For a detailed analysis of Pinellas County, explore the housing market data at the ZIP-code level on Reventure App.
