{"id":83985,"date":"2025-12-15T15:00:08","date_gmt":"2025-12-15T15:00:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/83985\/"},"modified":"2025-12-15T15:00:08","modified_gmt":"2025-12-15T15:00:08","slug":"st-pete-adds-condo-supply-while-tampa-stays-tight","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/83985\/","title":{"rendered":"St. Pete adds condo supply while Tampa stays tight"},"content":{"rendered":"

David Moyer has spent more than 20 years working inside Tampa Bay\u2019s real estate market. As Executive VP of Developer Services at Smith & Associates Real Estate, he manages sales for new construction and existing multifamily projects across Tampa and St. Petersburg<\/a>.<\/p>\n

Looking ahead to 2026, Moyer does not see volatility. He sees definition.<\/p>\n

\u201cWe just don\u2019t see too much dramatic change,\u201d Moyer said. \u201cI think things are going to be steady and consistent.\u201d<\/p>\n

That steadiness, he said, hides meaningful shifts in where inventory is coming from and how buyers are thinking about luxury.<\/p>\n

St. Petersburg enters a new phase<\/p>\n

St. Petersburg is about to experience something it has not had before. New condominium inventory that is finished and ready for buyers to move in.<\/p>\n

Projects like 400 Central<\/a> and Art House are delivering completed residences instead of forcing buyers into the resale market.<\/p>\n

\u201cBuyers will have opportunities to buy move-in-ready condos, which has never really been the case,\u201d Moyer said. \u201cMost developments haven\u2019t had inventory.\u201d<\/p>\n

That shift gives buyers more choice and puts pressure on existing buildings to compete.<\/p>\n

At the same time, St. Petersburg is welcoming its first true luxury branded residence with Waldorf Astoria Residences<\/a>.<\/p>\n

\"WaldorfWaldorf Astoria Residences St. Petersburg, the city\u2019s first luxury branded condominium tower.<\/p>\n

\u201cThis is the first luxury branded residence for downtown St. Pete,\u201d Moyer said.<\/p>\n

Branded residences, Moyer said, raise the level of the product through higher-end interior finishes, services delivered with the home and professional management tied to a global hotel brand.<\/p>\n

He said branded residences attract buyers who recognize the name before the location.<\/p>\n

\u201cA brand like Waldorf will help New York and Chicago buyers,\u201d he said. \u201cThey\u2019ve seen it. They\u2019ve touched it.\u201d<\/p>\n

READ MORE ABOUT ST. PETERSBURG REAL ESTATE<\/a><\/p>\n

Moyer said most pre-construction buyers are typically local, but a brand like Waldorf helps pull in out-of-market buyers who are more comfortable purchasing because the name is familiar.<\/p>\n

Moyer believes Waldorf will draw more attention to the city even from buyers who do not ultimately purchase there.<\/p>\n

\u201cIt gives people a reason to check out St. Pete and fall in love with it,\u201d he said.<\/p>\n

Tampa\u2019s supply stays tight<\/p>\n

Downtown Tampa<\/a> is in a different position. Very few new condominium towers are delivering in the near term.<\/p>\n

\u201cThere\u2019s just no new large delivery,\u201d Moyer said.<\/p>\n

That lack of supply is keeping prices stable and limiting swings.<\/p>\n

\u201cI don\u2019t see too many price increases or decreases,\u201d he said. \u201cI think it\u2019s going to be consistent.\u201d<\/p>\n

Projects such as Aqua at Westshore Yacht Club and Pendry Residences Tampa<\/a> are moving forward in a market where new condo inventory remains limited.<\/p>\n

Projects under construction like Pendry Residences Tampa benefit from that environment rather than competing against new inventory.<\/p>\n

Primary buyers vs seasonal buyers<\/p>\n

Moyer draws a clear line between the two cities when it comes to buyer behavior.<\/p>\n

\u201cTampa is much more primary,\u201d he said. \u201cBuyers plan to live in this home most of the year.\u201d<\/p>\n

St. Petersburg attracts more seasonal residents, though not to the level of markets farther south.<\/p>\n

\u201cSt. Pete is my home, but I have another home,\u201d Moyer said, describing a common buyer mindset.<\/p>\n

He said downtown St. Petersburg has long offered a more walkable, condo-centered lifestyle, while Tampa\u2019s condo market historically felt more disconnected from everyday amenities.<\/p>\n

That difference has shaped development. Tampa\u2019s workforce and employment base keep it grounded as a year-round city, while St. Petersburg\u2019s walkability and beach access pull second-home buyers.<\/p>\n

As downtown Tampa grows, Moyer sees overlap beginning.<\/p>\n

\u201cTampa is now competing more with St. Pete for that seasonal buyer,\u201d he said.<\/p>\n

Developments like Pendry and The Tampa Edition, he said, have helped shift that mindset by offering a \u201chome as a hotel\u201d experience, where buyers have access to hotel-style services at their residence.<\/p>\n

\"AA nighttime view of Pendry Tampa along the Riverwalk<\/p>\n

Gas Worx changes perception<\/p>\n

One project stands out to Moyer as a turning point for Tampa: Gas Worx.<\/p>\n

\u201cIt\u2019s going to push the boundaries of Tampa,\u201d he said.<\/p>\n

Rather than immediately flooding the market with condos, Gas Worx expands how people think about downtown.<\/p>\n

READ MORE ABOUT TAMPA REAL ESTATE<\/a><\/p>\n

\u201cI think people are going to start revisiting locations they might not have been looking at,\u201d Moyer said.<\/p>\n

That includes areas north of the Channel District that have historically sat outside buyer consideration.<\/p>\n

What defines 2026<\/p>\n

For buyers, Moyer sees opportunity in St. Petersburg.<\/p>\n

\u201cThere\u2019s never been a better time to buy,\u201d he said, pointing to new inventory and increased choice.<\/p>\n

For Tampa, the story is restraint.<\/p>\n

\u201cThe market isn\u2019t going to be too dramatically changed,\u201d he said.<\/p>\n

External factors like interest rates and recent hurricanes remain part of the landscape. <\/p>\n

Moyer said buyers are increasingly avoiding neighborhoods with flood concerns, while areas viewed as more resilient are drawing stronger interest.<\/p>\n

Even so, he does not expect sharp corrections.<\/p>\n

\u201cWe\u2019ve had tremendous growth,\u201d he said. \u201cThings are leveling.\u201d<\/p>\n

For Moyer, that leveling signals maturity. Tampa Bay\u2019s luxury market is no longer emerging. It is established, measured and increasingly defined by choice rather than scarcity.<\/p>\n

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Read More TBBW stories<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"David Moyer has spent more than 20 years working inside Tampa Bay\u2019s real estate market. As Executive VP…\n","protected":false},"author":2,"featured_media":83986,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[20221,2152,17222,6184,46255,276,3839,46256,803,596,480,35899,804,199,135,1526,137,136,11863,278],"class_list":["post-83985","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tampa","tag-condos","tag-development","tag-downtown-st-petersburg","tag-downtown-tampa","tag-gas-worx","tag-hillsborough-county","tag-luxury-homes","tag-luxury-living","tag-luxury-real-estate","tag-pinellas-county","tag-real-estate","tag-real-estate-quarterly","tag-residential-real-estate","tag-st-petersburg","tag-tampa","tag-tampa-bay","tag-tampa-headlines","tag-tampa-news","tag-tampa-real-estate","tag-top-stories"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/83985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=83985"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/83985\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/83986"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=83985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=83985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=83985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}