Recent hurricanes along Florida’s Gulf Coast have changed how buyers approach waterfront real estate, especially in St. Petersburg. The market now reflects heightened caution, stricter due diligence, and a renewed focus on property resilience. While challenges remain, signs of recovery and opportunity are emerging for those who understand the new landscape.
Carly Majorana, a waterfront specialist with NextHome Gulf Coast, began her real estate career in 2021 during a period of intense demand and limited inventory. “Even then, it was hard because you had buyers, but you couldn’t get houses for them,” she says. The market was defined by frenzied competition, but today’s environment requires a different skill set and mindset — one centered on risk assessment and property condition.
Hurricane Helene marked a clear turning point for the market. Flooding from the storm forced buyers to confront the risk of flooding and property vulnerability. According to Majorana, the first question buyers now ask about any property is whether it has flooded. “People are scared of flooded houses, which I understand,” she says. She urges buyers to consider the full context of any flood event rather than immediately dismissing properties with a single incident in their history.
Helene was considered a 100-year flood. Majorana argues that homes that remained dry during that event are generally viewed as safe bets. For properties that did flood, buyers look for evidence of permitted repairs and prompt remediation — such as quick drywall removal and thorough drying — to ensure long-term habitability.
This increased scrutiny has created a more demanding and selective buyer pool. “Buyers right now are really extra picky,” Majorana observes. They expect homes to be in near-perfect condition and walk away quickly if significant repairs are needed. Even minor issues can become deal-breakers, and buyers routinely submit extensive repair requests.
The condominium sector in St. Petersburg faces a unique set of challenges. Hurricane risk, new structural integrity requirements following the Surfside collapse, and widespread special assessments have combined to dampen demand and push prices lower.
“People are scared of condos right now,” Majorana says. The fear stems from both physical risk and financial uncertainty, as many buildings have undergone costly assessments for repairs and upgrades. She believes the current climate presents an opportunity for investors. Condo prices have dropped, and in many cases, major assessments have already been paid and reserve studies completed, reducing the risk of sudden additional costs.
Buyer due diligence has reached a new level, especially for high-value properties. In a recent $2 million beachfront condo sale, Majorana’s clients insisted on reviewing structural reports, attending HOA meetings, and speaking directly with association leadership. Buyers are no longer satisfied with surface-level assurances. They want real-time information about a building’s financial health and structural condition.
This shift toward transparency — while it can slow transactions — ultimately benefits buyers. “We’re getting these structural integrity reports, so you have a full report of what’s going on with the building,” Majorana explains. Previously, buyers often had to rely on incomplete or outdated disclosures. Now, comprehensive documentation is standard, allowing for more informed decisions.
Despite ongoing caution, activity in St. Petersburg’s waterfront market has picked up in recent months, particularly among vacation home buyers. “This past March has blown up,” Majorana reports. She describes a surge in out-of-state buyers returning to the area, signaling renewed confidence in the market’s long-term prospects.
Competitive dynamics are also reemerging in certain segments. Properties that have not flooded and are in good condition are attracting multiple offers for the first time since 2022. Majorana recently listed a home that received three offers, and she notes that in at least one recent instance, an overpriced listing saw competitive bidding, signaling that demand is strengthening in select cases.
This marks a significant change from the stagnant conditions that followed the hurricane. For months, buyers held back, waiting for clearer signs of stability. The return of multiple-offer situations indicates that demand is strengthening, at least for homes that meet today’s strict criteria.
Flood history now plays a decisive role in determining property values across St. Petersburg’s waterfront neighborhoods. Homes in areas that avoided major flooding during recent storms have retained their value and continue to attract buyer interest. Properties in neighborhoods with repeated flooding or recent storm damage are struggling to sell, even when they offer superior waterfrontage or amenities.
Majorana describes a situation in which her clients are under contract on a waterfront home that did not flood, while nearby homes in the same neighborhood — despite having better water access — remain unsold at lower prices because they did flood. Buyers are prioritizing safety and peace of mind over features that once commanded premiums.
For investors, the current environment offers several entry points. Majorana points out that many condos are undervalued due to negative sentiment and recent assessments. With most major repairs and reserve funding already addressed in many buildings, she sees a window for long-term investors willing to conduct additional due diligence.
Waterfront properties, despite their challenges, remain fundamentally attractive due to their scarcity. “There’s only so much waterfront, so the demand will always be there,” Majorana says. She also highlights areas with transient zoning, such as Treasure Island and certain beach communities, where short-term vacation rentals are permitted. These zones offer strong income potential as demand for vacation rentals rebounds alongside tourism.
The increased complexity of transactions means investors must be prepared to conduct thorough research and seek professional guidance. With buyers and lenders scrutinizing flood history, structural integrity, and financial health more closely than ever, successful investments now depend on a deep understanding of both property-level and neighborhood-level risks.
The changing market has raised the bar for real estate professionals. Majorana emphasizes the importance of independent verification and comprehensive analysis. “A valuable lesson I’ve learned in real estate is not to take people’s word for things,” she says. She now insists on double-checking seller statements, reviewing documentation, and encouraging buyers to verify all claims before proceeding.
This diligence extends to understanding condo association finances, interpreting structural integrity reports, and communicating complex findings clearly to clients and their representatives. Agents must be more knowledgeable and detail-oriented to guide buyers through the current environment.
The most resilient properties in St. Petersburg’s waterfront market combine desirable locations with proven storm performance and move-in-ready condition. Fully renovated homes that avoided flooding during Hurricane Helene are commanding a premium and selling quickly. Homes with a history of flooding or deferred maintenance are often forced to reduce prices or linger on the market.
This new reality is reshaping both buyer expectations and seller strategies. Sellers who invest in repairs, document flood resilience, and provide clear disclosures are more likely to attract motivated buyers. For buyers, the focus has shifted from cosmetic features or location alone to a holistic assessment of risk, condition, and long-term value.
St. Petersburg’s experience highlights how natural disasters can have lasting effects on buyer psychology and market dynamics. The premium for safety, transparency, and quality is higher than ever. Only properties that meet these standards are moving quickly. As buyers become more sophisticated and selective, the market is rewarding thorough preparation and realistic pricing.
For investors and homebuyers alike, success in today’s waterfront market depends on understanding flood risk, structural integrity, and the evolving regulatory landscape. Those who adapt to these new expectations are best positioned to find value and avoid costly surprises.
In the coming year, the interplay between storm risk, property condition, and buyer caution will continue to shape St. Petersburg’s waterfront market. Agents, sellers, and investors who respond with careful preparation and clear communication can still find opportunity in a market that rewards diligence and resilience.
About the Expert: Carly Majorana is a waterfront specialist with NextHome Gulf Coast in St. Petersburg, Florida, where she focuses on guiding buyers and investors through a post-hurricane market shaped by flood risk, structural scrutiny, and shifting demand. Since entering real estate in 2021, she has developed expertise in high-due diligence transactions, helping clients evaluate property resilience, condo financial health, and long-term waterfront investment value. She is also a Certified Luxury Home Marketing Specialist (CLHMS) with Guild status, recognizing her experience in successfully marketing and selling multiple properties valued at $2 million and above.
This article is based on information provided by the expert source cited above. It is intended for general informational purposes only and does not constitute legal, financial, or real estate advice. Readers should conduct their own research and consult qualified professionals before making any real estate or financial decisions.
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