Data Analysis
Pinellas County recorded 47 new-construction home sales in September 2026 at a median $649,000, down from a five-month run of 684 sales at medians above $1.3 million from December through April.
Pinellas new-construction closings peaked at 168 in December 2025. September's 47 sold at a median $301 a square foot, against $898 in February.
Pinellas County recorded 47 new-construction home sales in September 2026 at a median price of $649,000 and $301 a square foot, according to our analysis of Stellar MLS closed sales. From December 2025 through April 2026, the county recorded 684 new-construction sales in five months, with monthly medians between $1,303,000 and $1,595,000 and between $673 and $898 a square foot. Even after the slowdown, new-construction sales from January through September 2026 totaled 796, up 78.1 percent from 447 a year earlier. New homes were 3.7 percent of all Pinellas closings in September.
This piece covers only new construction against resale. Our September articles on the St. Petersburg median price, closed sales, price per square foot, days on market and seller concessions cover all homes, and the full monthly series is on the St. Petersburg market data hub.
What happened to new-construction sales in Pinellas County?
They surged over the winter and have since settled back toward 2025 levels. Through most of 2025, Pinellas recorded 34 to 73 new-construction sales a month. Then the count jumped.
| Month | New-construction sales | Median price | Median $ per sq ft | Sale to original list |
|---|---|---|---|---|
| December 2025 | 168 | $1,375,000 | $740 | 100.0% |
| January 2026 | 134 | $1,303,000 | $846 | 100.0% |
| February 2026 | 155 | $1,585,550 | $898 | 100.0% |
| March 2026 | 141 | $1,595,000 | $797 | 100.0% |
| April 2026 | 86 | $1,495,000 | $673 | 100.0% |
| May 2026 | 72 | $800,000 | $395 | 97.7% |
| July 2026 | 61 | $975,000 | $446 | 97.0% |
| September 2026 | 47 | $649,000 | $301 | 96.7% |
Source: Momentum Research, computed from Stellar MLS closed residential sales in Pinellas County. Deemed reliable but not guaranteed.
From May through September 2026 the county recorded 280 new-construction sales, an average of 56 a month, against about 137 a month in the December to April run.
What kind of homes were in the winter wave?
The numbers point to high-priced, pre-sold homes. During the December to April run, every monthly median sold at exactly its original list price, and the median price per square foot was roughly 2.4 to 3.3 times the resale level. In January 2026 the median new-construction sale had two bedrooms and 1,782 square feet. That pattern is typical of pre-sold units in new multi-story buildings closing at completion. Our aggregate does not split new construction by property type or building, so we cannot confirm the mix.
The homes selling now look different. September's median new-construction sale had three bedrooms and 2,053 square feet, took 99 days on market and closed at 96.7 percent of its original list price.
How do new homes compare with resales in St. Petersburg?
The gap has narrowed sharply. In September the new-construction median of $649,000 was 70.8 percent above the resale median of $380,000. In February the premium was 331.4 percent. September's premium was the smallest since March 2025.
Resales in Pinellas are a steady, older market. The 1,238 resales closed in September had a median price of $380,000, a median of 1,380 square feet and $273 a square foot, and a median year built of 1974. They took a median 42 days on market and closed at 93.8 percent of the original list price. Resale volume from January through September was 12,698, up 1.8 percent from 12,477 a year earlier.
Pinellas is mostly built out, so new construction is a small slice of the market: 3.7 percent of closings in September, against 12.1 percent in neighboring Hillsborough County. Our Tampa new construction analysis covers that market.
Where can buyers find new homes in Pinellas County?
The new-home communities we track are listed on the new construction communities in Pinellas County and new construction communities in St. Petersburg pages. Condo buildings are on the Pinellas County condo communities page. Recent prices for each place are on the St. Petersburg, Clearwater, Largo, Pinellas Park, Seminole and Dunedin market pages.
For condo buyers, association fees, reserves and special assessments are part of the cost. Our Florida condo special assessments and Florida condo distress tracker pages cover those costs, and the Pinellas County property tax and cost of living in St. Petersburg pages cover the rest of the budget.
People also ask
Are new construction sales slowing in St. Petersburg?
Yes, from a high level. Pinellas County recorded 47 new-construction sales in September 2026, down from 168 in December 2025, in our analysis of Stellar MLS records. Year to date through September, new-construction sales were still up 78.1 percent from 2025, at 796.
How much do new homes cost in St. Petersburg?
The median new-construction sale in Pinellas County in September 2026 was $649,000, or $301 a square foot. From December 2025 through April 2026, monthly medians ran between $1,303,000 and $1,595,000.
What is the median resale home price in Pinellas County?
The median resale in September 2026 sold for $380,000, with 1,380 square feet and a median year built of 1974.
Limitations
New construction is identified from the MLS new-construction flag on each closed listing; builder sales that never appear in the MLS are not counted. Figures are medians of closed residential sales in Pinellas County and mix home types, sizes and locations, so a few large projects closing in the same months can move the new-construction median sharply. Our aggregate does not separate condos from houses within new construction. Monthly counts can be revised as late closings are recorded. St. Petersburg here means Pinellas County, the county our St. Petersburg market hub covers. This article is general information, not advice about any specific property or transaction.
Sources and links
- Momentum Research, computed from Stellar MLS closed residential sales in Pinellas County, January 2025 through September 2026, new construction and resale aggregates updated October 26, 2026. Listings courtesy of Stellar MLS as distributed by MLS GRID. Information is deemed reliable but not guaranteed.
- Momentum Research, Stellar Market Pulse.
- Full monthly series and per-feed attribution: St. Petersburg market data
Disclosure: Jon Brooks is a co-founder of Momentum Realty, a Florida real estate brokerage that owns and funds Florida Housing Intelligence. Momentum has a financial interest in Florida real estate transactions, including in markets named here. See our editorial standards.
Market statistics in this article are computed from MLS data licensed by Momentum Realty, and are current as of the date shown. Data may be preliminary and subject to revision by its source. This article is general information, not advice about any specific property, transaction, or financial decision, and is not a representation about any specific property, community, builder, or association.
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