Paradise Island (Treasure Island) market snapshot (as of June 25, 2026): the median sale price is about $1.0M ($426 per sq ft), with homes averaging 86 days on market and 2.1 months of supply, a seller's market. Based on 28 recent closings in live Stellar MLS data.
Paradise Island is a single-family waterfront neighborhood in Treasure Island, in Pinellas County in the 33706 ZIP, on the Boca Ciega Bay Intracoastal Waterway just minutes from the Gulf of Mexico. It is a residential island neighborhood of mostly single-family homes, many on canal or open-water frontage, with some condos and townhomes mixed in nearby.
Because most homes are waterfront single-family, the water frontage, the elevation, and the condition drive value. Canal depth, the route to open water, the seawall and dock, and how a home sits on the island matter more than square footage. Read the condition and any updates or elevation work honestly before you judge a list price.
Coastal risk is the central underwriting question. As a barrier-island neighborhood, flood zone, base flood elevation, and the cost and availability of flood and wind insurance are a meaningful part of the true carrying cost, and storm history matters. Confirm the FEMA flood zone, the elevation certificate, the insurance quote, and any post-storm repairs, and verify short-term rental rules, since island zoning varies.
The location is the durable draw: a boat-friendly waterfront lifestyle a short walk or drive from the Gulf beaches, with St. Pete Beach, Gulfport, and downtown St. Petersburg close. The honest work is matching a specific home to the closest real comparable sales by water frontage, elevation, and condition, and pricing the full insurance and carrying cost before any headline number.
