High net worth households increasing in the St Petersburg area

By
Real Estate Agent with Coastal Properties Group International - Christie's International

St Petersburg/Clearwater/Tampa has an increasing number of high net worth households, according to the Tampa Bay Business Journal. They quote numbers from a study by IXI Corporation, which has defined high net worth households as having a net worth of at least $3 Million. (There are lots of definitions of high net worth, so it pays to look into how a study defines it). From 2006 to 2007 the number increased by nearly 30% and their assets increased by nearly 24%. Not unexpectedly, most of these have made their own wealth, rather than inherited it. That must partly account for the new record sales of home prices.

The St Petersburg area is also seeing more billionaire yacht coming here, and those figures of course aren't included in the households here.

 

Posted by

Sharon Simms
CIPS CRS CLHMS CRB RSPS
Coastal Properties Group
CHRISTIE'S International Real Estate
238 Beach Drive NE
St Petersburg, FL 33701
www.ssimms.com    www.coastalpgi.com   www.christiesrealestate.com
(727) 898-2582    Sharon@SimmsTeam.com

 

Comments (11)

Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

So Sharon, are any of them single, age appropriate flirt worthy guys?

May 30, 2008 01:21 PM
Sharon Simms
Coastal Properties Group International - Christie's International - Saint Petersburg, FL
St. Petersburg FL - CRS CIPS CLHMS RSPS

Maybe, Pat. But lots of HNW individuals I know wouldn't be worth spending time with, much less developing a relationship with. Same as DC, I'm sure. Same as any other demographic or economic group. Your intended targets are a VERY small group!

May 30, 2008 01:37 PM
William Johnson
Retired - La Jolla, CA
Retired Real Estate Professional

Hi Sharon, might these people not be the targets for congress who believe that they earn to much?

May 30, 2008 01:55 PM
Sharon Simms
Coastal Properties Group International - Christie's International - Saint Petersburg, FL
St. Petersburg FL - CRS CIPS CLHMS RSPS

William - not necessarily. We aren't an area of hedge fund guys. If you run a great business and save and invest well, why not?

May 30, 2008 01:57 PM
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Sharon - Does that translate into high end business for you?

May 30, 2008 02:01 PM
Sharon Simms
Coastal Properties Group International - Christie's International - Saint Petersburg, FL
St. Petersburg FL - CRS CIPS CLHMS RSPS

Jennifer - hopefully it will have the trickle down effect. More high net worth individuals should equal more luxury homes which should equal more luxury business for The Sims Team.

May 31, 2008 07:01 AM
Eric Kodner
Wayzata Lakes Realty: Eric Kodner Sells Twin Cities Homes - Minnetonka, MN
Wayzata Lakes Realty: Twin Cities, Madeline Island

Sharon, good to see you contributing to the LuxuryRealEstate.com Network for ActiveRain Members!

Does IXI Corporation conduct these studies nationwide?

 

Jun 03, 2008 07:05 AM
Sharon Simms
Coastal Properties Group International - Christie's International - Saint Petersburg, FL
St. Petersburg FL - CRS CIPS CLHMS RSPS

Eric - thank YOU for organizing the luxury group and keeping it going.

As far as I know, IXI does conduct studies nationwide, but their clients are financial services companies.

Jun 03, 2008 09:23 AM
Eric Kodner
Wayzata Lakes Realty: Eric Kodner Sells Twin Cities Homes - Minnetonka, MN
Wayzata Lakes Realty: Twin Cities, Madeline Island

Sharon, we're proud of the group.  It's grown to twenty-two members in a relatively short period of time and the membership roster now includes several staff members of the LuxuryRealEstate.com organization.

Jun 03, 2008 10:06 AM
Jim Norbuta
RE/MAX Traditions (Cleveland, Ohio) - Chagrin Falls, OH

LeBron James

 

Sharon,

Haven’t these folks heard about global warming.  The North Coast, Cleveland, has the fabulous Lake Erie and MVP LeBron James (pictured).  Has IXI noticed the movement of Tampa/St. Pete millionaires to our area yet?    

GO CAVS

And

Many Blessings,

Jim

May 12, 2009 06:51 AM
BLR Guy
BLRGUY(Beach & Luxury Realty Inc) - Saint Pete Beach, FL

Sharon,I do agree with you on all of the big boats over here....I live here on the Gulf and get to see all of the magnificent boats/yachts coming by on the Gulf and intercoastal....makes me laugh when I hear we are in the worst economy since the depression....alot of people with all those big boats didn't get that memo I guess

May 17, 2009 10:44 PM