PROView - January 2008 - (Page 14) Marketplace Analysis A Marketplace Going Through a Continued Transition Our marketplace continues to go through a fairly consistent trend of smaller increases and decreases in sales activity without any major volatility. 407 single family homes sold in Pinellas County during the month of November compared to 484 in October and 442 in September. 250 condos sold in November, down from 283 in October and 267 in September. Price Class The majority of single family homes sold continue to be at levels between $200,000 and $250,000. For November, 13.8% of homes sold within that bracket. The same is true for the August through October period. 2007Most condos sold in November within one price range were those sold between $120,000 and $140,000, Active Sold Totalmaking up 13.2% of all condos Averages Averages Total sold. an MSI from 19 to 20. Showing MSI numbers ranging from 28 for the lower-priced properties and 49 for higher-priced homes, the price bracket $250,000 and up continues within an extreme buyer’s market. Condos priced below $120,000 have an MSI of 18 and remain in a buyer’s market. The MSI number ranges from 26 to 36 for condos priced between $120,000 and $350,000, 40 to 59 for condos offered between $350,000 and $1,000,000 and 86 for condos above $1,000,000. r r Median Sales Price We have seen a downturn in the median sales price in the last several months. What are the factors behind Pinellas County the slide? Essentially, when more buyers are buying less expensive homes than buyers who are buying more Under Contract expensiveTotal Averagesmedian price falls. On the other homes the Count BR BA List Price Count BR BA List Price Count BR BA List Price DOM Sale Price % SP/LP DOM DOM Absorption Rate hand, when more buyers are buying more expensive 797 2 2 $750,750 162 14 2 2 $944,486 $895,057 94.76% 227 37 2 2 $798,549 184 Absorption rates have fluctuated during the fall months, homes than buyers who are buying less expensive 169 2 2 $338,325 173 332 $466,267 $373,633 80.13% 74 822 $245,550 65 from 4.8% $205,541 147 5.2% in2 October, to 4.4%$157,035 93.15% 70 the median 2 $200,125 134 in September, 13 in homes, price rises. 377 2 2 2 $168,573 22 2 November. The rate156 condos was23.0%, down from for 464 2 2 $199,810 15 2 $190,027 $179,382 94.39% November, the median sales price for single family 23 2 2 $265,439 130 For 103 3.4% 2 193 2 the month before. $178,296 124 922 $139,342 $133,446 95.76% 129 14 down from $215,000 a year earlier. 22 $148,171 109 was $185,000, 86 2 2 $168,338 11 2 2 $132,455 Month’s Supply of 120 Inventory (MSI)* $138,781 498 2 2 $191,740 134 22 2 2 $142,675 $134,489 With an MSI figure of 7, single family homes priced 598 2 2 $271,014 140 16 2 2 $176,934 $166,363 below within a seller’s2market while $153,500 those 51 2 2 $120,000 are173 $237,674 22 $177,200 priced 596 2 2 from $120,000 and $150,000, with an MSI of 11, $169,461 135 20 2 2 $139,468 $127,618 1489 2 in 2 balanced market. Remaining in $404,441 29 2 2 $367,091 are a $595,244 172 a buyer’s market, 882 2 2 offered between $150,000 and $250,000, have 31 2 2 $140,847 $130,058 homes $172,932 134 431 2 2 $137,343 144 10 2 2 $95,045 $92,160 92 2 2 $220,501 149 0 $0 $0 908 2 2 $329,100 169 20 2 2 $160,589 $142,545 1007 2 2 $307,871 138 33 2 2 $413,921 $394,203 95.44% 100 822 $159,512 116 The median sales price for condos was for the month 94.26% 99 44 2 2 $159,016 95 $150,000, a decline 2 $195,054 from the $155,900 figure of 94.02% 127 31 2 88 November, 2006.2 2 $298,940 86.62% 143 5 96 91.50% 98 supply51 inventory is the number57 months it would take 22 $161,655 * Month’s of of 90.76% 120 65 2 2 $921,692 110 to sell all the homes on the market at a given price range for any given 92.33% 102 51 2 2 $167,292 100 point in time. 32 2 2 96.96% 52 $124,140 112 0 322 $189,467 113 88.76% 179 66 2 2 $324,836 116 95.23% 130 286 2 2 $513,488 39 LY November 2007 MLS Activity by Area – November 2007 February 2007 Active CONDOS r Total Averages Count BR BA List Price DOM Area 191 3 3 $1,460,982 North Beaches 164 350 3 2 $408,962 Tarpon Springs 121 539 4 3 $594,561 133 East Lake/ Oldsmar 621 3 2 Palm$458,484 127 Harbor 149 3 2 $323,953 118 Countryside 212 4 3 $513,595 Safety Harbor 130 524 3 2 $286,229 127 Dunedin 650 3 2 $360,937 119 Clearwater 126 3 2 $657,714 140 Bellair 533 3 2 $314,658 124 Largo 644 3 2 $922,246 South Beaches 151 997 3 2 $333,257 125 Seminole 633 3 2 $221,977 Pinellas Park 126 21 4 3 $501,405 Feather Sound 135 1842 3 2 Petersburg N. St. $355,511 128 1221 3 2 Petersburg S.* St. $317,634 130 Single Sold Active Sold Und Condos Under Contract Sold Active Family Sold Sold Under Contract Total Avera Total Averages Total Averages Total Averages Total Averages Averages Total Averages Total Averages Total Count Count BR Count BR Count BR Count BR BA List Price BR DOM Price Area BA List % SP/LP DOM Count BR BA SalePrice Sale Price Count BR BA List Price B DOM % SP/LP DOM List Price DOM DOM BA List Price Sale Price Count BR BA List PriceBA List Price North Beaches 32 $1,013,000 2 $885,833 797 14 5 2 4 2 $944,486 37 2 32 87.44% 2 237 915 4 $773,048 2 131 $750,750 162 2 12 $589,242 3 $1,433,560 176 $565,125 $895,057 94.76%3 2272 $1,037,660 64 38 Tarpon Springs 22 $223,693 2 $209,707 169 3 33 2 80.13%2 742 82 14 2 93.74% 3 84 19 $238,989 83 196 3 $347,513 2 116 $338,325 173 2 7 $250,153 2 $466,267 $236,482 $373,633 44 14 $218,755 East Lake/ Oldsmar $311,014 2 $295,384 377 13 2 4 2 $157,035 93.15%2 702 22 2 18 2 94.97% 2 114 41 $391,417 342 3 22 $220,621 2 100 $205,541 147 2 17 $228,670 3 $168,573 $216,935 115 86 44 $239,107 Palm Harbor 464 15 2 3 2 23 2 25 2 113 48 $327,802 83 460 3 22 $370,315 2 $343,553 92.77% 156 2 $225,688 2 111 $199,810 21 2 $183,045 2 $190,027 $170,971 $179,382 94.39%2 1032 85 42 $180,821 Countryside3 22 $308,503 2 $293,945 193 2 95 $178,296 9 2 3 22 $139,342 $133,446 95.76%2 1292 14 2 10 2 95.28% 124 2 71 20 $327,455 77 217 $189,569 9 2 $236,636 $216,693 86 18 $174,375 Safety13 3 22 $312,844 2 $293,231 Harbor 86 11 2 4 2 $132,455 95.44%2 1002 82 93.73% 2 124 21 $405,122 96 2 $176,966 2 92 $168,338 120 2 9 $129,311 2 $138,781 $120,633 103 109 10 $169,040 Dunedin 3 22 $228,001 2 $212,698 498 22 2 3 2 44 2 22 93.28% 2 104 41 $239,830 91 595 2 $269,603 2 114 $191,740 134 2 40 $301,997 2 $142,675 $298,106 $134,489 94.26%2 992 68 73 $410,192 Clearwater 3 22 $575,347 2 $498,406 598 16 2 3 2 31 2 32 86.62% 2 86 48 $245,030 96 653 2 $365,772 2 115 $271,014 140 2 15 $263,197 2 $176,934 $252,692 $166,363 94.02%2 1272 102 39 $431,503 89.41% 2 118 10 $718,159 Bellair 2 4 32 $887,450 2 $793,500 51 2 24 2 $153,500 86.62%2 1432 52 50 2 $249,720 2 112 $237,674 173 2 3 $302,967 3 $177,200 $289,967 127 117 3 $138,000 92.70% 2 87 47 $211,627 Largo 20 3 22 $208,880 2 $193,645 596 20 2 3 2 $127,618 91.50%2 982 51 2 504 2 $191,705 2 124 $169,461 135 2 16 $145,042 2 $139,468 $138,356 118 90 25 $178,619 86.68% 2 83 30 $623,922 South 14 3 22 $622,518 2 $539,643 Beaches 1489 29 2 3 2 $367,091 90.76%2 1202 65 2 1593 2 $654,180 2 126 $595,244 172 2 27 $533,926 2 $404,441 $486,011 109 143 93 $806,158 49 94.99% 2 84 94 $279,548 84 Seminole 3 22 $223,679 2 $212,473 882 31 2 3 2 51 2 744 2 $202,829 2 102 $172,932 134 2 22 $180,230 2 $140,847 $170,995 $130,058 92.33%2 1022 101 45 $138,601 31 2 93.41% 2 85 48 $160,519 91 Pinellas Park 22 $159,580 2 $149,074 431 10 2 3 2 $95,045 $92,160 96.96%2 522 32 2 436 3 $166,811 2 101 $137,343 144 2 10 $137,720 1 $131,180 120 24 $117,231 90.96% 2 130 $739,000 40 $0 Feather3Sound 22 $426,000 2 $387,500 92 01 5 $0 32 72 3 2 $265,711 2 106 $220,501 149 2 6 $200,300 4 $195,817 91 5 2 02 $190,380 97 2 93.39% 2 94 165 $241,196 97 St. Petersburg N. 2 $333,897 2 $311,842 908 20 2 3 2 88.76% 66 2 1169 3 2 $332,839 2 132 $329,100 169 2 37 $211,260 2 $160,589 $203,493 $142,545 109 2 1792 109 $321,117 31 2 90.90% 2 88 119 $284,483 St. Petersburg S.*2 $191,663 2 $174,225 1007 33 2 3 2 $394,203 402 95.23%2 1302 286 2 1266 3 2 $346,687 2 160 $307,871 138 2 55 $289,375 2 $413,921 $275,235 110 80 $450,079 Averages CONDO Pin Pinellas Cou rt and Pasadena * Includes Gulfport and Pasadena SINGLE FAMILY SINGLE FAMILY Active ® ORGANIZATION Total Averages Total PINELLAS REALTOR Area North Beaches Total Averages Total Averages Total January 2008 Averages Total Avera Count Count BR Count BR BA CountPriceBA List Price Count BR BA List Price BR BA List Price Area DOM % SP/LP DOM List BR Sale Price Sale Price Count BR BA List Price B DOM DOM North Beaches 3 $1,439,651 3112 191 3 $1,460,982 164 2 3 4 3 $1,013,000 $885,833 87.44%3 2372 54 201 3 5 3 $813,780 $716,980 152 5 $754,600 Active Sold Sold Und Under Contract
Table of Contents Feed for the Digital Edition of PROView - January 2008 PROView - January 2008 Contents Chairman's Notes Feature ProActive Marketing Finance Marketplace Analysis Home Sales Report MLS Update MLS Mind Your Manners Education Calendar of Events & Programs PROBiz Special Feature Brokerage Design New Affiliates and Members for 2008 PROView - January 2008 PROView - January 2008 - PROView - January 2008 (Page Cover1) PROView - January 2008 - PROView - January 2008 (Page Cover2) PROView - January 2008 - Contents (Page 1) PROView - January 2008 - Chairman's Notes (Page 2) PROView - January 2008 - Chairman's Notes (Page 3) PROView - January 2008 - Feature (Page 4) PROView - January 2008 - Feature (Page 5) PROView - January 2008 - Feature (Page 6) PROView - January 2008 - ProActive (Page 7) PROView - January 2008 - Marketing (Page 8) PROView - January 2008 - Marketing (Page 9) PROView - January 2008 - Finance (Page 10) PROView - January 2008 - Finance (Page 11) PROView - January 2008 - Finance (Page 12) PROView - January 2008 - Finance (Page 13) PROView - January 2008 - Marketplace Analysis (Page 14) PROView - January 2008 - Home Sales Report (Page 15) PROView - January 2008 - MLS Update (Page 16) PROView - January 2008 - MLS Mind Your Manners (Page 17) PROView - January 2008 - Education (Page 18) PROView - January 2008 - Calendar of Events & Programs (Page 19) PROView - January 2008 - PROBiz (Page 20) PROView - January 2008 - Special Feature (Page 21) PROView - January 2008 - Brokerage Design (Page 22) PROView - January 2008 - Brokerage Design (Page 23) PROView - January 2008 - Brokerage Design (Page 24) PROView - January 2008 - Brokerage Design (Page 25) PROView - January 2008 - New Affiliates and Members for 2008 (Page 26) PROView - January 2008 - New Affiliates and Members for 2008 (Page Cover4)
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