PROView - January 2009 - (Page 12) Marketplace Analysis November 2008 Starting with the January, 2009, issue of PROView Magazine, local statistics will be available for the month prior. Because the publication is now online only, we’ll be able to showcase statistics about three weeks after the close of each month. Previously, due to a longer print cycle, the magazine included market statistics from two months earlier. This month’s issue features both November and December 2008. November - Looking Forward, Looking Back We are now into the time of year where the real estate industry typically takes a breather. Holidays shorten the time of activity in the market, so it is a time when everyone can reflect on where we go from here. In the single family market, there are still plenty of listings, even though the total number declined 7% since November 2007, and is down just under 2% from last month. The number of single family homes sold is up 5.4% over November, 2007, continuing the trend of improved numbers. In the condo market, listings dropped by nearly 16%, and sales continue to be extremely slow. Sales dropped 6% since November 2007. Median price also dipped 16.3% from November 2007. Active Sold Condo sales show more concentration in only a few brackets: $100,000-120,000: 12.3%; $120,000-140,000: 14.9%; $140,000160,000: 8.9%. Absorption Rate The single family home absorption rate was for November 5.0%, down from 6.0% in October. The rate for condos was at 3.4%, down from 3.6% the month before. Month’s Supply of Inventory (MSI)* With an MSI of 13, single family homes priced below $120,000 are within a balanced market. Homes priced between $200,000 and $250,000 with an MSI figure of 20 are within a buyer’s market. Single family homes priced between $120,000 and Pinellas County $200,000 have anUnder 22, properties from $250,000 to MSI of Contra $1,000,000 rangeAverages MSI of 26 and 83, and homes priced from an Total above $1,000,000 areBA an extreme buyer’s market with an MSI Count BR in List Price % SP/LP DOM of 137 89.57% 185. 33 2 2 $436,490 115 932 $180,244 154 91.80% 207 All 71 within 2 $170,529 103 93.72% condos are17 2 an extreme buyer’s market. Condos priced below $120,000 and up to $1,000,000 showing an MSI between 99 49 2 2 $105,888 108 94.03% 22 132 922 $151,032 90 91.64% and 89 while those offered above $1,000,000 have an MSI of 12 2 2 $140,983 103 94.72% 214 144. 28 2 2 $152,477 57 97.06% 178 Median Sales52 2 2 Price 77 $134,731 88 91.43% 81.40% 333 The median sales price for single family homes was $159,900, 21 2 2 $118,045 136 93.78% from $150,000 the month before. The median sales price up 93 73 $565,946 111 91.15% condos was for 2 2 for 108 the month $125,500, a decrease from the 91 45 2 2 92 93.13% October figure of $137,000.$132,361 77 30 2 2 $112,729 75 95.33% 232 $194,950 45 91.65% 198 * Month’s supply of inventory is the number of months it would take to sell all the 38 $200,586 122 88.17% 148 the market at 2 given price range for any given point in time. homes on a2 88 2 2 $337,592 67 89.72% 114 Total Averages l Averages Ann Guiberson, President & CEO Count BR BA List Price nt BR BA List Price Sale Price DOM 9 2 2 read the full marketplace analysis, please visit www. $636,447 178 22 2 2 $476,044 $426,414 (To 922 $211,865 185 522 $118,740 $109,000 TampaBayRealtor.com/stats.) 722 $173,958 166 12 3 2 $153,400 $143,771 422 $176,463 164 15 2 2008$133,962 $125,960 Statistics Highlights for November, 2 022 $140,384 136 822 $130,063 $119,188 122 322 $128,267 $121,500 Price $140,305 133 Class 8 2 2 single family 139 $177,341 18 activity is now visible in$139,917 22 $144,160 For homes, sales several 622 23 2 2 $140,652 $128,593 price $197,169 without any dominant range: $100,000brackets 154 122 $174,676 213 222 $129,000 $105,000 120,000: 7.7%; $120,000-140,000: 7.9%; $140,000-160,000: 122 $139,664 150 16 2 2 $87,875 $82,406 9.6%;$508,902 180 $160,000-180,000: 7.9%; $200,000-250,000: 12.6%; and 522 26 2 2 $433,516 $395,135 $300,000-400,000: 8.4%. 33 2 2 322 $142,724 204 $135,033 $125,758 822 $113,381 162 18 2 1 $104,721 $99,835 922 $197,183 139 222 $140,750 $129,000 122 $296,350 173 19 2 2 $143,375 $126,419 622 $267,665 163 23 1 1 $167,236 $150,043 l Averages nt BR BA List Price DOM Area 8 4 3 North Beaches179 $1,323,484 1 3 2 Tarpon Springs $365,432 153 7 4 3 East Lake/ Oldsmar $556,921 136 4 3 2 Palm Harbor 139 $430,449 6 3 2 Countryside 120 $329,575 1 4 3 Safety Harbor 157 $424,454 9 3 2 Dunedin $269,453 130 9 3 2 Clearwater $314,589 146 9 3 2 Bellair $549,955 160 8 3 2 Largo $289,672 138 9 3 3 South Beaches $1,025,871 165 1 3 2 Seminole $307,262 148 4 3 2 Pinellas Park 159 $190,894 0 4 3 Feather Sound162 $488,934 8 3 2 St.$326,409 Petersburg 135 N. 3 3 2 St.$297,478 Petersburg 148 S.* dena Active CONDOS MLS Activity byNovember 2008 2008 Area – November February 2007 DO Total Averages Total Averages Total Averages Total Averages Total Averages Total A Total Averages Total Averages Count BR BA List Price Count Count BR BA List Price Count BR Price Count Count B Count BR BA List Price Sale BA List Price BR DOM List Price BR SaleList Price DOM Price BRSP/LP List Price % SP/LP DOM BA Price Sale Count % BA DOM BA DO DOM 58 $589,2422 2 12 4 3 $1,432,233 64 133 96.89% 89.57% $1,037,660 33 25 North 9 3 3 2 $556,156 Beaches 599 2 22 $476,044 $426,414 915 2 $773,048 2 $538,844$636,447 2 178 131 12 2 $565,125 38 3 2 137 14 27 3 $236,482 2 $192,418 81 94.27% 133 $250,153 2 2 Tarpon Springs2 2 $203,304 179 2 5 $118,740 44 $109,000 91.80% 207 196 3 2 $347,513 2 $191,655$211,865 3 185 116 7 2 14 2 2 $218,755 9 7 48 4 $216,935 3 $378,733 95.25% 123 $228,670 3 2 East 31 3Oldsmar $332,123 Lake/ 2 2 2 327 2 $316,335$173,958 2 166 2 12 $153,400 86 138 $143,771 71 93.72% $239,107 17 7 342 $220,621 100 17 2 44 2 2 28 50 3 $170,971 2 $295,601 87 90.34% 117 $183,045 2 2 Palm Harbor 2 2 $329,272 434 2 15 $133,962 85 $125,960 99 94.03% $180,821 4910 460 3 2 $225,688 2 $297,479$176,463 2 164 111 21 2 42 2 2 16 68 $236,636 2 2 21 3 2 $197,605 89.61% Countryside 2 2 $223,056 160 2 8 $130,063 86 109 $119,188 91.64% 132 217 3 2 $189,569 2 $199,878$140,384 2 136 95 9 2 $216,693 18 2 2 $174,375 9 7 13 19 3 2 $262,804 92 92.71% 101 Safety Harbor 2 2 $303,954 81 2 3 $128,267 94.72% 214 96 4 2 $176,966 2 $281,796$140,305 2 133 92 9 2 $129,3112 2$120,633 109 $121,500 10 2 2 $169,040 12 5 25 64 3 2 $205,449 68 90.85% 107 Dunedin 3 2 2 $194,940 438 2 $177,108$177,341 2 139 2 18 2 2 $144,160 68 $139,917 97.06% 178 595 2 $269,603 114 40 2 $301,997 $298,106 73 2 2 $410,192 28 8 29 88 3 2 $172,288 86 91.27% 106 Clearwater3 2 2 $182,727 546 2 23 $140,652 77 91.43% $431,503 52 8 653 2 $365,772 2 $166,767$197,169 2 154 115 15 2 $263,1972 2$252,692 102 $128,593 39 2 2 532 $118,415 81.70% 134 Bellair4 3 2 2 $315,950 41 2 2 $129,000 $105,000 81.40% 333 50 2 $249,720 2 $258,125$174,676 2 213 112 3 2 $302,9672 2$289,967 117 102 3 2 2 $138,000 4 88.40% 21 90 51 3 2 $176,915 90 88 Largo 381 2 16 $87,875 $82,406 93 93.78% $178,619 21 10 504 3 2 2 $219,045 2 $191,705 2 $193,638$139,664 2 150 124 16 2 $145,0422 2$138,356 25 2 2 18 37 3 3 $747,458 87.77% 109 South Beaches2 2 $290,383 1235 2 26 $433,516 $395,135 91.15% 108 1593 3 2 $654,180 2 $254,883$508,902 2 180 126 27 2 $533,9262 2$486,011 143 137 93 2 2 $806,158 73 8 46 90 112 3 2 $199,265 91 91.98% Seminole 3 2 2 $192,467 743 2 33 $135,033 91 93.13% $138,601 45 9 744 2 $202,829 2 $177,028$142,724 2 204 102 22 2 $180,2302 2$170,995 101 $125,758 45 2 2 29 52 $137,720 2 1 69 3 2 $132,652 93.33% Pinellas Park 2 2 $132,745 368 2 18 $104,721 $99,835 77 95.33% $117,231 30 12 436 3 2 $166,811 2 $123,891$113,381 2 162 101 10 2 $131,180 120 98 24 2 2 1 60 $200,300 2 2 90.23% Feather Sound 2 2 $399,000 79 2 2 $140,750 91 $129,000 91.65% 198 72 3 2 $265,711 2 $360,000$197,183 2 139 106 6 2 $195,817 5 2 2 $190,380 2 11 75 96 $211,260 2 2 201 3 $203,493 2 $214,994 94 109 95.69% St. Petersburg 2 2 $234,903 671 2 19 $143,375109 $126,419 88.17% 148 1169 3 N. 2 $332,839 2 $224,786$296,350 2 173 132 37 2 2 2 $321,117 38 6 55 69 118 3 2 $152,619 94 402 90.94% St. Petersburg 2 2 $149,671 816 2 23 $167,236 80 $150,043 89.72% 114 1266 3 S.* 2 $346,687 2 $136,105$267,665 2 163 160 55 2 $289,3751 1$275,235 2 2 $450,079 88 8 Total Averages Total Count Sold A Active Single Family Sold ctive Condos d Sold Under ContraSolSold Pinellas County P Under Contract U 12 SINGLE FAMILY ® ORGANIZATION Y PINELLAS REALTOR GLE FAMIL Active Total Averages * Includes Gulfport and Pasadena Active Sold © 2008 Pinellas REALTOR® Organization All Rights Reserved. Averages Total Averages Count Sold Total Averages January 2009 Under Contract Total A Count U http://www.TampaBayRealtor.com/stats http://www.TampaBayRealtor.com/stats
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