Yes. It'll be off by whatever percentage larger than stock it is. For example, if your stock tire was 29", 29/33 = 12% off, so at 52 you'd be going an actual 59 mph. I don't know what your stock tire size is, but the math should follow a ratio like that, assuming the previous owner didn't calibrate the speedometer.
If you would like to correct the speedo, it requires one part and is a very simple process.